Mesa Market Report
Welcome to the October 2022 Mesa, Arizona Market Report. Mesa is considered to be in the East Valley and one of the largest cities in the valley, with a population of 509,475. The average home price in the month of October for Mesa was $463,659, up $657 from the previous month of September. The average lease price per square foot in Mesa listed on the MLS was $1.32 in October, up from $1.26 in September, showing that rent prices are holding firm and have yet to decline in the Mesa area.
The total number of Mesa homes sold in October was 545, down 62 sales from 607 in September. This has also been a common theme throughout the valley and is consistent with the time of year.
It took homes in Mesa an average of 47 days to go under contract in October, which is 4 days longer than it took in September, at 43 days. As you can see from the chart, Mesa has stayed relatively consistent from January 2021 through July 2022. August is really when we see the trend shifting upward, as it is a common theme throughout the valley.
Mesa is in line with the rest of the valley and has joined the Buyer’s Market Club. With a $463k average sales price, Mesa, Arizona, is among the most affordable cities in the Phoenix Metro.
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