First Arizona Title's Market Report
Tempe, AZ
Single-Family Homes
First Arizona Title Agency | (480) 385-6500 | www.FirstAZTitle.com
Tempe, AZ
Thu Jun 08 2023
This week the median list price for Tempe, AZ is $626,950 with the market action index hovering around 61. This is an increase over last month's market action index of 59. Inventory has decreased to 68.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
Home sales continue to outstrip supply and the Market Action Index has been moving higher for several weeks. This is a Seller’s market so watch for upward pricing pressure in the near future if the trend continues.
Real-Time Market Profile
| Median List Price | $626,950 | |
| Median Price of New Listings | $587,000 | |
| Per Square Foot | $331 | |
| Average Days on Market | 90 | |
| Median Days on Market | 25 | |
| Price Decreased | 47% | |
| Price Increased | 1% | |
| Relisted | 6% | |
| Inventory | 68 | |
| Median Rent | ||
| Market Action | 61 | |
| Strong Seller's Market | ||
Despite this week’s up tic, the market seems to have paused around this plateau. The Market Action Index is a good leading indicator for the durability of this shift.
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 |
|---|---|---|---|---|---|---|---|---|
| $1,169,999 | 3,140 | 0.25 - 0.5 acre | 5 | 3.5 | 43 | 2 | 1 | 21 |
| $678,500 | 2,149 | 8,000 - 10,000 sqft | 4 | 2 | 46 | 2 | 2 | 21 |
| $579,000 | 1,764 | 8,000 - 10,000 sqft | 3 | 2 | 55 | 3 | 4 | 42 |
| $499,000 | 1,476 | 6,500 - 8,000 sqft | 3 | 2 | 52 | 5 | 7 | 49 |