December 2024 Real Estate Market Update: Mesa, AZ

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:

• 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.

• 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.

• 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.

• 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.

• 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.

What Does This Mean for Buyers?

With more active listings and increased months of supply, buyers in Mesa are seeing less competition. This is an excellent time to explore your options, especially with the continued appreciation in home values.

What Does This Mean for Sellers?

While homes may take slightly longer to sell, the rising median price per square foot suggests that demand remains strong. Pricing your home strategically is crucial to capitalize on these trends.

As the Mesa market evolves, staying informed about these changes is vital for making sound real estate decisions. Whether you're looking to buy, sell, or invest, working with an experienced local agent can help you achieve your goals.

Want to learn more about Mesa's market or get personalized advice? Contact me today!