Mesa, AZ 85215 Real Estate Market Report

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

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Executive Overview

As of March 2026, the Mesa, AZ real estate market reflects a median sold price of $517,000, indicating a stable valuation despite a backdrop of shifting market dynamics. The neighborhood has decreased 8% since 2022, suggesting a potential cooling trend in buyer demand and pricing. This decrease, coupled with elevated inventory levels, points to a market that may be adjusting to changing economic conditions, particularly influenced by rising interest rates and affordability constraints.

Transaction activity appears moderate, with longer median days on market at 208 days. This extended timeframe indicates slower sales velocity, which may be attributed to the elevated interest rate pressure currently affecting buyer purchasing power. The market temperature is classified as neutral, suggesting a balance between supply and demand, but with signs of potential softening as sellers adjust expectations in response to market realities.

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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

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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 at 6.38% are 0.88% higher than the 2026 forecast low of 5.50%, indicating property owners locked in a favorable rate if their origination was earlier in the year.

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 median sold price in Mesa, AZ is $517,000, reflecting a decrease of 8% since 2022, indicating potential pricing adjustments.

2. Median days on market are 208 days, suggesting a slower sales velocity and extended timeframes for property transactions.

3. Elevated inventory levels are present, which may indicate excess supply relative to sales activity, contributing to a more balanced market environment.

4. The median market rent stands at $3,000, which has also experienced downward pressure year-over-year, reflecting broader trends in rental affordability.

5. Current interest rate pressure is classified as elevated, with mortgage rates at 6.38%, impacting buyer affordability and overall market dynamics.

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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.