June 2026
Mesa’s real estate market remained balanced in June as inventory continued to tighten and buyer demand stayed steady. Home values softened slightly compared to last year, but homes are selling faster than they were a year ago. On the rental side, available inventory remains below 2025 levels, supporting healthy occupancy despite modest rent adjustments.
Sales Market Highlights
- Active Listings: 1,728 (11.8% decrease YoY)
- Median Sold Price: $253.30 per SF (2.1% decrease YoY)
- Average Days on Market: 51 days (6.4% decrease YoY)
- 30-Year Mortgage Rate: 6.49%
Mesa’s housing inventory continued to decline compared to last year, giving buyers fewer choices than they had throughout much of 2025. While the median sold price per square foot remains slightly below last year’s level, pricing has remained relatively stable throughout 2026. Homes are also selling more quickly than they did a year ago, indicating continued buyer demand for well-priced properties.
Rental Market Highlights
- Active Rental Listings: 364 (10.1% decrease YoY)
- Median Rent: $1.41 per SF (1.4% decrease YoY)
- Median Days on Market: 23 days (11.9% increase YoY)
Mesa’s rental market remains healthy with inventory continuing to tighten year over year. While rental rates are modestly below last year’s levels, available rental homes remain limited, helping landlords maintain strong occupancy. Homes are leasing in just over three weeks on average, demonstrating continued tenant demand across the city.
Key Takeaways
- 📉 Home inventory declined 11.8% compared to last year.
- 🏡 Median sold price measured $253.30 per square foot, down 2.1% year over year.
- ⚡ Homes sold faster, averaging 51 days on market, a 6.4% improvement from last year.
- 💰 Mortgage rates remained relatively stable at 6.49%.
- 🔑 Rental inventory declined 10.1%, creating less competition among landlords.
- 💵 Median rent measured $1.41 per square foot, down 1.4% from last year.
- 🏠 Rental homes leased in a median of 23 days, reflecting continued healthy tenant demand.
Overall Outlook
Mesa continues to be one of the Phoenix Metro’s most stable real estate markets. Declining inventory and faster selling times suggest buyers remain active despite higher mortgage rates, while home values have held relatively steady. Rental property owners continue to benefit from limited inventory and strong tenant demand, even as rents remain slightly below last year’s levels. Overall, Mesa remains an attractive market for homeowners, buyers, and long-term investors heading into the second half of 2026. Contact Home Ladder today if you are a property owner in need of Mesa property management.
May 2026
Sales Market
Active Listings: 1,768 (-12.5% YoY)
→ Inventory has tightened significantly compared to last year, giving buyers fewer options and signaling a healthier balance between supply and demand.
Median Sold $/SF: $258.23 (-0.8% YoY)
→ Home prices are nearly unchanged from last year, suggesting Mesa’s housing market has largely stabilized after the price corrections seen throughout 2025.
Average Days on Market: 50 (No Change YoY)
→ Homes are selling at virtually the same pace as last year, reflecting steady buyer demand despite elevated mortgage rates.
30-Year Mortgage Rate: 6.52%
→ Mortgage rates increased in May, continuing to challenge affordability for buyers entering the market.
Rental Market
Active Listings: 330 (-5.7% YoY)
→ Rental inventory remains below last year’s levels, continuing the trend toward a tighter rental market.
Median Rented $/SF: $1.39 (-0.7% YoY)
→ Rental pricing has remained remarkably stable, with rents sitting just slightly below last year’s levels.
Median Days on Market: 28 (+3.7% YoY)
→ Rentals are leasing at nearly the same pace as last year, indicating consistent renter demand heading into the summer season.
Key Takeaways
- Sales inventory has declined substantially, tightening the housing supply.
- Home prices have stabilized and are nearly flat year-over-year.
- Buyer demand remains steady, with homes selling at the same pace as last year.
- Rental inventory continues to contract, creating fewer options for renters.
- Rent prices have remained stable despite tighter inventory.
- Higher mortgage rates remain the biggest challenge affecting affordability.
Overall
Mesa’s May housing market continues to demonstrate impressive stability. The sales market has tightened considerably, with inventory down more than 12% year-over-year while home values have remained essentially flat. Homes are selling at the same pace as last year, showing that buyer demand has remained resilient despite higher borrowing costs. The rental market is also healthy, with lower inventory, stable rental pricing, and consistent leasing activity. Overall, Mesa remains one of the Phoenix metro’s more balanced markets, offering steady conditions for both buyers and investors as the summer market gets underway.
April 2026
Sales Market
Active Listings: 1,930 (-5.4% YoY)
→ Inventory remains below last year’s levels, continuing the tightening trend and giving buyers fewer options than they had in early 2025.
Median Sold $/SF: $251.79 (-5.3% YoY)
→ Home prices remain under noticeable pressure, with Mesa seeing a larger year-over-year pricing correction than many neighboring submarkets.
Average Days on Market: 48 (No Change YoY)
→ Homes are selling at virtually the same pace as last year, suggesting buyer activity remains stable despite softer pricing.
30-Year Mortgage Rate: 6.35%
→ Mortgage rates improved from March, offering a modest affordability boost as the spring market continues.
Rental Market
Active Listings: 303 (-10.9% YoY)
→ Rental inventory remains meaningfully below last year’s levels, keeping supply tighter for renters.
Median Rented $/SF: $1.39 (-2.8% YoY)
→ Rental pricing remains modestly below last year, though still holding relatively firm given the reduced inventory.
Median Days on Market: 31 (+14.8% YoY)
→ Rentals are taking longer to lease than last year, suggesting renter demand has softened somewhat despite tighter supply.
Key Takeaways
- Sales inventory continues to tighten, reducing buyer options
- Home prices remain under pressure, with a more notable correction than some surrounding markets
- Buyer demand appears stable, with homes selling at the same pace as last year
- Rental inventory remains lower than last year, supporting market balance
- Softer rental pricing and longer leasing times suggest more cautious renter behavior
- Lower mortgage rates may help support continued spring sales activity
Overall
Mesa’s April market reflects a relatively balanced but price-sensitive environment. The sales market is seeing tighter inventory and stable buyer activity, but continued downward pressure on pricing suggests affordability remains a major factor in buyer decision-making. On the rental side, supply remains constrained, though softer rent pricing and longer leasing timelines point to a somewhat more cautious renter pool. Overall, Mesa remains stable, but both buyers and renters appear increasingly price-conscious.