March saw a significant dip in existing-home sales, down 4.3% from February and 3.7% year-over-year, illustrating the strong impact that high interest rates continue to have on the market. 

Despite this slowdown, the median sale price of existing homes reached a record high for March at $393,500, marking a 4.8% increase from last year. 

Interestingly, while sales are sluggish, the job market remains robust with nearly six million more jobs now than before the pandemic, hinting at a potentially larger pool of prospective buyers. 

Inventory levels also saw a slight improvement, with a 4.7% increase from the previous month, providing a better selection for buyers and a favorable market for sellers receiving multiple offers on mid-priced properties. 

Overall, while the market faces challenges from higher mortgage rates, now averaging 6.88%, the increase in inventory and consistent price gains indicate sustained interest in homeownership.

In Mesa County

There are currently 425 active homes on the market in Mesa County. This is a slight increase compared to a week ago.

The average sold price YTD is $424,131 and the median sold price YTD is $378,500.

Mortgage Rates Today

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