Mesa, AZ 85215 Real Estate Market Report

ZIP Code: 85215
Report Date: May 2026
Market Temperature: NEUTRAL
Scope: This ZIP code analysis focuses on single-family residential (SFR) properties. Metrics are calculated from recent sales and active listings within the past 90 days.

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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.

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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.

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Rental Market

Note: The relationship between property values and rental rates reflects different market dynamics. Higher-priced properties may have lower rental yields due to factors such as luxury market positioning, owner-occupancy preferences, or long-term appreciation strategies rather than immediate rental income maximization.

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Property Taxes

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Liquidity & Velocity

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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 in Mesa, AZ are 6.37%, which is 0.50% higher than the 5.87% average observed for typical loans in this area during February 2026.

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

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Key Findings

1. The primary market indicator, the median sold price of $515,000, shows recent transaction values that are roughly in line with the median listing price of $513,000, suggesting limited pricing dispersion between asking and agreed sales; stable price discovery appears to be in effect.

2. The market exhibits slower sales velocity as reflected by the median days on market of 233, which may indicate increased time for buyers to evaluate options and suggests balanced but patient demand rather than rapid turnover.

3. Price fundamentals are steady: the broader trend is reported as flat for price year-over-year and the market temperature is described as neutral, while the median price per square foot stands at $284—supporting a narrative of stable, moderate appreciation pressure.

4. Financing and rental context are mixed: current longer-term financing shows a 30-year fixed rate of 6.37% (0.50% above the local February 2026 reference), which, combined with moderate interest rate pressure, may temper buyer urgency; separately, rents are trending down with a median market rent of $2,305, indicating softening rental momentum even as overall demand remains described as robust.

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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.

Mesa, AZ 85215 Real Estate Market Report

ZIP Code: 85215
Report Date: May 2026
Market Temperature: NEUTRAL
Scope: This ZIP code analysis focuses on condominium properties. Metrics are calculated from recent condo sales and active listings within the past 90 days.

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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.

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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.

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Rental Market

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Property Taxes

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Liquidity & Velocity

Note: A Sale-to-List Ratio near 100% can occur when properties sell at or near their final listing price after price adjustments during the listing period, even when initial listing prices differ significantly from sale prices.

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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 in Mesa, AZ are 6.37%, which is 0.50% higher than the 5.87% average observed for typical loans in this area during February 2026.

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

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Key Findings

1. The primary signal of market value is the $246,500 median sold price, which indicates realized transaction levels in the period and, when considered with a flat price year-over-year trend, suggests price stability rather than strong appreciation or decline.

2. There is a gap between $334,900 median listing price and the $246,500 median sold price, which may indicate pricing friction or seller price expectations above recent transaction levels and could create negotiating leverage for informed buyers; neutral market temperature supports a balanced negotiation environment.

3. The median days on market of 416 points to slower sales velocity and extended time-to-contract relative to typical active markets; this longer holding period appears consistent with a balanced/neutral market rather than rapid turnover, and may require sellers to price more competitively or market more aggressively.

4. Rental and financing context: $1,490 median market rent combined with a down rent year-over-year trend suggests rental demand/pricing pressure softening, while financing headwinds persist—Current 30-year fixed mortgage rates in Mesa, AZ are 6.37%, which is 0.50% higher than the 5.87% average observed for typical loans in this area during February 2026, reflecting moderate interest rate pressure that may damp buyer affordability.

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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.