First Integrity Title Market Report
Tempe, AZ
Condos/Townhomes
www.FirstIntegrityTitle.com | 888-636-0372
Tempe, AZ
Mon Dec 02 2024
This week the median list price for Tempe, AZ is $324,950 with the market action index hovering around 33. This is about the same as last month's market action index of 33. Inventory has decreased to 130.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Slight Seller's Advantage
Market Narrative
In the last few weeks, the market has been at a stasis point in terms of sales to inventory. However, prices seem to continue to fall a bit. Technically supply levels indicate this is a Seller’s market so it is likely that the downward pricing pressure will be light or variable. Watch for an up-shift in the MAI before price stability is achieved.
Real-Time Market Profile
| Median List Price | $324,950 | |
| Median Price of New Listings | $319,900 | |
| Per Square Foot | $313 | |
| Average Days on Market | 80 | |
| Median Days on Market | 63 | |
| Price Decreased | 54% | |
| Price Increased | 5% | |
| Relisted | 2% | |
| Inventory | 130 | |
| Median Rent | ||
| Market Action | 33 | |
| Slight Seller's Advantage | ||
The market has been on a downward trend recently and this week, while essentially flat, doesn’t break us out of that cycle.
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 |
|---|---|---|---|---|---|---|---|---|
| $512,500 | 1,440 | 0 - 4,500 sqft | 2 | 2 | 18 | 1 | 4 | 91 |
| $369,000 | 1,242 | 0 - 4,500 sqft | 2 | 2 | 41 | 4 | 5 | 49 |
| $300,000 | 1,014 | 0 - 4,500 sqft | 2 | 2 | 45 | 7 | 5 | 56 |
| $259,500 | 812 | 0 - 4,500 sqft | 2 | 1 | 40 | 1 | 1 | 63 |