Navi Title Agency

Tempe, AZ 85283

Single-Family Homes

Here is your weekly Market Update!



Tempe, AZ 85283

Sat Jul 20 2024
This week the median list price for Tempe, AZ 85283 is $599,900 with the market action index hovering around 48. This is less than last month's market action index of 55. Inventory has increased to 32. 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 plateaued for a while. Despite the consistent decrease in MAI, we’re in the Seller’s zone. Watch for changes in MAI. If the MAI resumes its 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 Jul 20 2024
This week the median list price for Tempe, AZ 85283 is $599,900 with the market action index hovering around 48. This is less than last month's market action index of 55. Inventory has increased to 32. 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 plateaued for a while. Despite the consistent decrease in MAI, we’re in the Seller’s zone. Watch for changes in MAI. If the MAI resumes its 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 $599,900
Median Price of New Listings $720,000
Per Square Foot $307
Average Days on Market 52
Median Days on Market 32
Price Decreased 59%
Price Increased 6%
Relisted 13%
Inventory 32
Median Rent
Market Action 48
Strong Seller's Market

Again this week we see prices in this zip code remain roughly at the level they’ve been for several weeks. Since we’re significantly below the top of the market, 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
$724,500 2,265 8,000 - 10,000 sqft 4 3 48 3 2 21
$625,000 2,222 6,500 - 8,000 sqft 3 2 44 0 2 59
$555,000 1,766 6,500 - 8,000 sqft 3 2 46 0 0 31
$469,945 1,458 6,500 - 8,000 sqft 3 2 49 0 1 35