Navi Title Agency
Tempe, AZ 85284
Single-Family Homes
Here is your weekly Market Update!
Tempe, AZ 85284
Thu Apr 25 2024
This week the median list price for Tempe, AZ 85284 is $805,000 with the market action index hovering around 52. This is less than last month's market action index of 53. Inventory has increased to 18.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
The market has achieved a relative stasis point in terms of supply and demand - conditions don’t seem to be getting hotter or cooler. However, inventory is sufficiently low to keep us in the Seller’s Market zone and prices have been moving upward as a result.
Real-Time Market Profile
| Median List Price | $805,000 | |
| Median Price of New Listings | $581,500 | |
| Per Square Foot | $350 | |
| Average Days on Market | 57 | |
| Median Days on Market | 28 | |
| Price Decreased | 61% | |
| Price Increased | 0% | |
| Relisted | 0% | |
| Inventory | 18 | |
| Median Rent | ||
| Market Action | 52 | |
| Strong Seller's Market | ||
In this zip code this week saw relatively little price change from last week. However, we continue to demonstrate a nice up trend in general over the last several weeks.
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 |
|---|---|---|---|---|---|---|---|---|
| $2,212,500 | 5,537 | 1 - 2.5 acres | 5 | 5.5 | 43 | 0 | 0 | 56 |
| $1,209,499 | 2,928 | 0.25 - 0.5 acre | 4 | 3 | 29 | 0 | 0 | 66 |
| $750,000 | 2,308 | 6,500 - 8,000 sqft | 3 | 3 | 34 | 0 | 1 | 21 |
| $565,000 | 1,650 | 8,000 - 10,000 sqft | 3 | 2 | 38 | 2 | 0 | 14 |