First Integrity Title Market Report

Tempe, AZ

Condos/Townhomes

www.FirstIntegrityTitle.com | 888-636-0372



Tempe, AZ

Wed May 22 2024
This week the median list price for Tempe, AZ is $400,000 with the market action index hovering around 52. This is less than last month's market action index of 55. Inventory has increased to 77. 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

Wed May 22 2024
This week the median list price for Tempe, AZ is $400,000 with the market action index hovering around 52. This is less than last month's market action index of 55. Inventory has increased to 77. 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 $400,000
Median Price of New Listings $412,500
Per Square Foot $336
Average Days on Market 41
Median Days on Market 21
Price Decreased 34%
Price Increased 4%
Relisted 3%
Inventory 77
Median Rent
Market Action 52
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
$685,000 1,767 0 - 4,500 sqft 2 2 18 7 4 35
$460,000 1,380 0 - 4,500 sqft 2 2 22 6 2 14
$339,900 1,202 0 - 4,500 sqft 2 2 41 5 2 21
$275,000 845 0 - 4,500 sqft 2 1 41 6 4 35