First Integrity Title Market Report

Tempe, AZ

Condos/Townhomes

www.FirstIntegrityTitle.com | 888-636-0372


Tempe, AZ

Mon Dec 04 2023
This week the median list price for Tempe, AZ is $375,000 with the market action index hovering around 45. This is less than last month's market action index of 49. Inventory has increased to 76. 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

Mon Dec 04 2023
This week the median list price for Tempe, AZ is $375,000 with the market action index hovering around 45. This is less than last month's market action index of 49. Inventory has increased to 76. 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 $375,000
Median Price of New Listings $396,950
Per Square Foot $318
Average Days on Market 50
Median Days on Market 39
Price Decreased 42%
Price Increased 0%
Relisted 3%
Inventory 76
Median Rent
Market Action 45
Strong Seller's Market

The market seems to have paused around this plateau. The Market Action Index is a good leading indicator for the durability of this trend.

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
$535,000 1,595 0 - 4,500 sqft 2 2 19 4 2 42
$399,950 1,160 0 - 4,500 sqft 2 3 39 1 0 28
$335,000 1,119 0 - 4,500 sqft 2 2 44 3 1 42
$285,000 884 0 - 4,500 sqft 2 1 40 2 4 28