Old Republic Title Market Report

Tempe, AZ

Single-Family Homes

www.ortc.com | 602-631-3755



Tempe, AZ

Sat Jul 31 2021
This week the median list price for Tempe, AZ is $519,947 with the market action index hovering around 85. This is less than last month's market action index of 86. Inventory has increased to 98. 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

Sat Jul 31 2021
This week the median list price for Tempe, AZ is $519,947 with the market action index hovering around 85. This is less than last month's market action index of 86. Inventory has increased to 98. 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 $519,947
Median Price of New Listings $524,500
Per Square Foot $288
Average Days on Market 63
Median Days on Market 14
Price Decreased 35%
Price Increased 13%
Relisted 5%
Inventory 98
Median Rent $2,800
Market Action 85
Strong Seller's Market

Despite this week’s up tic, the market seems to have paused around this plateau. The Market Action Index is a good leading indicator for the durability of this shift.

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
$759,450 2,722 0.25 - 0.5 acre 4 3 39 5 4 17
$562,499 1,996 8,000 - 10,000 sqft 3 2 48 11 7 7
$498,000 1,650 8,000 - 10,000 sqft 3 2 59 6 6 14
$425,000 1,433 6,500 - 8,000 sqft 3 2 51 9 11 14