Your Localized Market Report

Tempe, AZ

Single-Family Homes

Lawyers Title Arizona & Grand Canyon Title Agency www.LawyersTitleArizona.com & www.gcta.com



Tempe, AZ

Wed Feb 21 2024
This week the median list price for Tempe, AZ is $585,000 with the market action index hovering around 45. This is an increase over last month's market action index of 44. Inventory has decreased to 109. Click here to stay informed with the Tempe market!

Market Action Index

This answers “How’s the Market?” by comparing rate of sales versus inventory.

Strong Seller's Market

While the Market Action Index shows some strengthening in the last few weeks, prices have not seemed to move from their plateau. Should the upward trend in sales relative to inventory continue, expect prices to resume an upward climb in tandem with the MAI.

Tempe, AZ

Wed Feb 21 2024
This week the median list price for Tempe, AZ is $585,000 with the market action index hovering around 45. This is an increase over last month's market action index of 44. Inventory has decreased to 109. Click here to stay informed with the Tempe market!

Market Action Index

This answers “How’s the Market?” by comparing rate of sales versus inventory.

Strong Seller's Market

While the Market Action Index shows some strengthening in the last few weeks, prices have not seemed to move from their plateau. Should the upward trend in sales relative to inventory continue, expect prices to resume an upward climb in tandem with the MAI.

Real-Time Market Profile

Never miss important changes in the Tempe market.
Median List Price $585,000
Median Price of New Listings $600,000
Per Square Foot $315
Average Days on Market 101
Median Days on Market 63
Price Decreased 53%
Price Increased 5%
Relisted 9%
Inventory 109
Median Rent
Market Action 45
Strong Seller's Market

The market is hovering around this plateau. Look for a persistent change in the Market Action Index before we see prices deviate from these levels.

Market Segments

Each segment below represents approximately 25% of the market ordered by price.

Median Price Sq. Ft. Lot Size Beds Bath Age New Absorbed DOM
$860,000 2,700 8,000 - 10,000 sqft 4 3 48 3 2 56
$625,000 1,999 8,000 - 10,000 sqft 4 2 52 5 1 70
$549,900 1,736 6,500 - 8,000 sqft 3 2 56 4 2 77
$449,945 1,376 4,500 - 6,500 sqft 3 2 55 3 7 56