Thirty-nine homes sold in 93109 in the first 6 months of 2024, matching last year’s number. Last year, 11 of those sold for more than $3M. This year, more than half—20— closed above $3M, marking a first. $3M homes are becoming the most common home for Mesa Buyers.
Looking at the chart, you can see how fewer homes are available in the lower price ranges and that more are at higher price points. The median price increased from $2.5M last year to $3.25M this year.
However, it’s not entirely accurate to say Mesa prices are up that much. The current mix of sales includes more higher-priced and fewer lower-priced homes. The Mesa mar- ket is strong, but the overall South Coast is up about 5 percent. Still, Mesa prices have increased over last year.
What is coming? Along the South Coast, inventory is increasing—currently 210 homes for sale, the most since late 2020, nearly double the 120 homes a year ago. Price reductions are becoming more common.
Marketing times are increasing. including on the Mesa where the time to sell has almost doubled from last year. There aren’t enough agents to hold all of the weekend open houses.
If you have both location and condition, you get premium pricing. With a good location, even fixers are selling well. Closer to the ocean is the best on the Mesa.
The market is highly sensitive to pricing. In a week, the agent knows if their phone is ringing about their latest listing. Each call indicates the home is popular and ready for a sale. Fewer calls mean a price reduction is likely. There’s little in between these two outcomes.
Like the well-dressed dancer at the party, you hope your home will be asked to dance. Wrong shoes, clothes, or full Wallflower mode mean the Realtor and Seller should have been better prepared. Helping Mesa h o m e s get ready for the party is part of my expertise. Call if you would like a private discussion about marketing your property.
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