As we move into the new year, the December 2024 real estate market stats for Mesa, Arizona, show some intriguing trends. Whether you’re a buyer, seller, or investor, understanding these changes can help you navigate the local market effectively.
Key Highlights for December 2024:
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Active Listings: Up 38.3% from last year, reaching 1,601 compared to 1,158 in December 2023. More options are becoming available for buyers, signaling a shift toward a more balanced market.
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Sold Listings: Slight increase of 2.7%, with 450 homes sold compared to 438 in December 2023. This indicates steady buyer activity despite the holiday season.
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Median Sale Price Per Square Foot: Up 6.1%, now at $264.42 compared to $249.31 last year. Home values continue to appreciate, offering good news for sellers.
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Months of Supply: Increased by 34.6%, now sitting at 3.56 months compared to 2.64 months in December 2023. This indicates the market is gradually moving away from the extreme seller’s market of the past few years.
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Median Days on Market: Up 15.5%, now averaging 48 days compared to 42 days last year. Homes are taking slightly longer to sell, giving buyers more time to make decisions.
