Navi Title Agency

Tempe, AZ 85283

Single-Family Homes

Here is your weekly Market Update!


Tempe, AZ 85283

Sat Sep 30 2023
This week the median list price for Tempe, AZ 85283 is $599,200 with the market action index hovering around 57. This is less than last month's market action index of 60. Inventory has increased to 30. 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 85283

Sat Sep 30 2023
This week the median list price for Tempe, AZ 85283 is $599,200 with the market action index hovering around 57. This is less than last month's market action index of 60. Inventory has increased to 30. 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 $599,200
Median Price of New Listings $505,000
Per Square Foot $302
Average Days on Market 54
Median Days on Market 28
Price Decreased 57%
Price Increased 0%
Relisted 0%
Inventory 30
Median Rent
Market Action 57
Strong Seller's Market

We continue to see prices in this zip code bouncing around this plateau. Look for a persistent up-shift in the Market Action Index before we see prices move 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
$785,000 2,670 6,500 - 8,000 sqft 4 3 45 1 0 63
$687,000 2,334 6,500 - 8,000 sqft 4 3 44 1 0 35
$544,500 1,761 6,500 - 8,000 sqft 3 2 49 1 1 10
$397,000 1,324 4,500 - 6,500 sqft 3 2 46 5 2 14