Mesa Home Prices Down in October

"In October, home prices fell moderately from the month before, with a median listing price of $472,500. The number of listings on the market grew 7.8% from last month, which is a smaller increase than normal for this time of the year in Mesa, and homes are also selling slower than at the same time last year. Home prices in Mesa Typically, home price per square foot in Mesa tend to rise in October. But the most recent data shows that the price per square foot decreased by 0.5% compared with the month before."

"Mesa inventory In October, there were 1,411 homes for sale in Mesa, which was 7.8% more than the month before and 30.4% more than the same time last year. Meanwhile, active inventory across the nation remained practically unchanged from last month to 1,100,001. The number of new listings in Mesa was 636, which was 6.4% more than the month before and 0.6% more than the same time last year. Nationally, the number of new listings fell by 2.7% from last month to 384,264."

Mesa median listing price was $472,500 in October, reflecting a moderate month-over-month decline. Price per square foot decreased 0.5% from the prior month, smaller than the national 0.8% drop. Active inventory in Mesa reached 1,411 homes, up 7.8% month-over-month and 30.4% year-over-year. New listings in Mesa numbered 636, rising 6.4% month-over-month and 0.6% year-over-year, while national new listings fell 2.7% to 384,264. Average days on market in Mesa were 52 days, seven days less than the previous month and seven days more than the same month last year. National average days on market were 63.

Read at SFGATE