Mesa, AZ 85215 Real Estate Market Report

ZIP Code: 85215
Report Date: February 2026
Market Temperature: NEUTRAL
Scope: Single-Family Residential (SFR) listings and comps only

---

Executive Overview

The median sold price in Mesa, AZ (85215) is currently $535,000, reflecting a stable market despite a down trend in home values year-over-year. This indicates that while prices have stabilized, the overall market sentiment suggests a slight cooling compared to previous periods. The current market conditions, characterized by 179 days on the market for sold properties, point to a slower sales velocity, which may indicate a need for sellers to adjust expectations in line with buyer sentiment.

Inventory levels appear elevated, with a notable excess supply relative to sales activity. This shift towards a more balanced market is further supported by moderating interest rates, which are currently near 5.875%, providing some relief to potential buyers. As the market normalizes, it is essential for stakeholders to consider these dynamics when making decisions, as the landscape is moving away from previous seller dominance.

---

Market Overview

This analysis is based on a sample of properties from this ZIP code (up to 200 sold properties and up to 100 active properties). The median prices below are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

---

Market Metrics

Note: The property counts shown above represent only the properties analyzed in this report sample, not the total inventory for this ZIP code. Median prices are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

---

Rental Market

---

Property Taxes

---

Liquidity & Velocity

---

Market Trends & Context

Understanding Market Temperature

A Neutral market indicates balanced conditions where neither buyers nor sellers have a strong advantage, typically characterized by flat price trends, extended but stable days on market, and moderate inventory relative to sales.

Current Mortgage Rate Context

Market-level mortgage rate comparison for this area:

Current 30-year fixed mortgage rates near 5.875% in Mesa AZ are 0.78% lower than the 6.65% average rate seen earlier in 2026.

Note: Interest rate comparisons provide market context. The existing "Interest Rate Pressure" metric above shows the qualitative market impact.

---

Key Findings

1. The median sold price of $535,000 indicates a stable market, yet reflects a down trend in home values year-over-year.

2. With 179 days on the market, the current sales velocity suggests a slower transaction pace, necessitating potential adjustments in seller pricing strategies.

3. Elevated inventory levels signal an excess supply relative to sales activity, which may impact future pricing dynamics.

4. Moderating interest rates at 5.875% are providing incremental relief to buyers, enhancing affordability in the market.

5. The market temperature is currently neutral, indicating a balanced environment for both buyers and sellers.

---

Notable Properties

The following 8 properties represent notable market examples and recent transactions that illustrate key market dynamics. These are illustrative examples selected for their significance (top sales, market benchmarks, quick sales) and are not the basis for the statistical calculations shown above.