Empire Title Agency's Market Report

Tempe, AZ

Single-Family Homes

www.ewtaz.com | MarketReports@ewtaz.com | 602-749-7000



Tempe, AZ

Tue Nov 29 2022
This week the median list price for Tempe, AZ is $534,900 with the market action index hovering around 42. This is about the same as last month's market action index of 42. Inventory has decreased to 182. 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.

Slight Seller's Advantage

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

Tue Nov 29 2022
This week the median list price for Tempe, AZ is $534,900 with the market action index hovering around 42. This is about the same as last month's market action index of 42. Inventory has decreased to 182. 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.

Slight Seller's Advantage

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 $534,900
Median Price of New Listings $479,072
Per Square Foot $302
Average Days on Market 103
Median Days on Market 63
Price Decreased 64%
Price Increased 3%
Relisted 7%
Inventory 182
Median Rent
Market Action 42
Slight Seller's Advantage

The market seems to have paused around this plateau. 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
$775,000 2,602 8,000 - 10,000 sqft 4 2.5 43 3 6 42
$575,000 1,908 6,500 - 8,000 sqft 4 2 49 3 6 56
$498,500 1,639 8,000 - 10,000 sqft 3 2 51 4 6 80
$427,500 1,425 6,500 - 8,000 sqft 3 2 49 7 6 63