Clear Title Agency of Arizona

Tempe, AZ

Single-Family Homes

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Tempe, AZ

Fri Jul 01 2022
This week the median list price for Tempe, AZ is $617,500 with the market action index hovering around 78. This is less than last month's market action index of 89. Inventory has increased to 146. 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

The market has been cooling over time and prices have recently flattened. Despite the consistent decrease in Market Action Index (MAI), we’re in a Seller’s Market (where significant demand leaves little inventory available). If the MAI begins to climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.

Tempe, AZ

Fri Jul 01 2022
This week the median list price for Tempe, AZ is $617,500 with the market action index hovering around 78. This is less than last month's market action index of 89. Inventory has increased to 146. 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

The market has been cooling over time and prices have recently flattened. Despite the consistent decrease in Market Action Index (MAI), we’re in a Seller’s Market (where significant demand leaves little inventory available). If the MAI begins to climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.

Real-Time Market Profile

Never miss important changes in the Tempe market.
Median List Price $617,500
Median Price of New Listings $588,000
Per Square Foot $340
Average Days on Market 59
Median Days on Market 14
Price Decreased 36%
Price Increased 7%
Relisted 3%
Inventory 146
Median Rent
Market Action 78
Strong Seller's Market

The market seems to have paused around its high point. The Market Action Index is a good leading indicator for the durability of this trend.

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
$925,000 2,885 0.25 - 0.5 acre 4 3 38 4 6 14
$657,000 2,055 8,000 - 10,000 sqft 4 2 51 12 1 14
$575,000 1,646 8,000 - 10,000 sqft 3 2 52 14 9 14
$485,000 1,314 6,500 - 8,000 sqft 3 2 49 12 8 7