Empire Title Agency's Market Report
Tempe, AZ
Single-Family Homes
www.ewtaz.com | MarketReports@ewtaz.com | 602-749-7000
Tempe, AZ
Mon Oct 21 2024
This week the median list price for Tempe, AZ is $575,000 with the market action index hovering around 42. This is an increase over last month's market action index of 40. Inventory has increased to 183.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Slight Seller's Advantage
Market Narrative
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
| Median List Price | $575,000 | |
| Median Price of New Listings | $582,000 | |
| Per Square Foot | $318 | |
| Average Days on Market | 69 | |
| Median Days on Market | 35 | |
| Price Decreased | 55% | |
| Price Increased | 2% | |
| Relisted | 7% | |
| Inventory | 183 | |
| Median Rent | ||
| Market Action | 42 | |
| Slight Seller's Advantage | ||
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 |
|---|---|---|---|---|---|---|---|---|
| $744,000 | 2,523 | 8,000 - 10,000 sqft | 4 | 3 | 46 | 9 | 10 | 49 |
| $599,925 | 1,949 | 6,500 - 8,000 sqft | 3 | 2 | 52 | 5 | 3 | 42 |
| $545,000 | 1,749 | 6,500 - 8,000 sqft | 3 | 2 | 53 | 10 | 3 | 28 |
| $457,000 | 1,417 | 6,500 - 8,000 sqft | 3 | 2 | 53 | 4 | 14 | 49 |