For single family homes for sale in Mesa, foreclosures dominate Mesa home sales

mesa-home-for-sale Looking for a single family house for sale in Mesa? There are plenty of them, but if you want to know what is actually selling, those are the foreclosures.

There are currently 1,726 active single family homes for sale in Mesa according to the MLS at time of this writing. Of those, only 290, or only 17% are foreclosure properties. So if I told you that there were 602 single family homes in Mesa that sold in the last month, that should mean roughly 102 of them were foreclosures. Not even close.

Of the 602 Mesa homes that sold last month, 294, or nearly 50% were foreclosures. The main reason foreclosures are selling is because of their price. The homes are generally listed below what a private sale is listed and is setting the market value for all homes on the market.

Another interesting statistic from these numbers is the very low supply of foreclosure properties on the market. with only 290 active and 294 sold in the last month, there is only a one month supply of inventory which is leading to a seller’s market.

There has been a lot of talk about a "shadow inventory" or foreclosures being held off the market on purpose by the banks. These numbers show the market could be flooded with this "shadow inventory" if it exist and still not crash. There are more than enough buyers out there right now for the inventory available.

If you want to see all the Mesa foreclosure homes for sale on the market right now check out our Mesa foreclosure properties for sale page.