Pango Group

Tempe, AZ

Single-Family Homes

www.pangogroup.com



Tempe, AZ

Sun Jul 14 2024
This week the median list price for Tempe, AZ is $587,000 with the market action index hovering around 47. This is less than last month's market action index of 52. Inventory has increased to 148. 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

Sun Jul 14 2024
This week the median list price for Tempe, AZ is $587,000 with the market action index hovering around 47. This is less than last month's market action index of 52. Inventory has increased to 148. 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 $587,000
Median Price of New Listings $580,000
Per Square Foot $330
Average Days on Market 64
Median Days on Market 35
Price Decreased 61%
Price Increased 1%
Relisted 5%
Inventory 148
Median Rent
Market Action 47
Strong Seller's Market

The market appears to be 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
$799,950 2,523 8,000 - 10,000 sqft 4 3 48 1 2 49
$610,000 1,915 6,500 - 8,000 sqft 4 2 54 6 3 35
$540,000 1,650 6,500 - 8,000 sqft 3 2 54 4 3 42
$449,900 1,304 6,500 - 8,000 sqft 3 2 53 4 5 28