First Integrity Title Market Report
Tempe, AZ
Condos/Townhomes
www.FirstIntegrityTitle.com | 303.837.9171
Tempe, AZ
Sun Mar 07 2021
This week the median list price for Tempe, AZ is $359,000 with the market action index hovering around 77. This is an increase over last month's market action index of 73. Inventory has held steady at or around 31.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
The market continues to get hotter. More sales demand and fewer homes listed have contributed to a relatively long run of increasing prices. Current supply and demand levels show no sign of prices changing from their current trend.
Real-Time Market Profile
| Median List Price | $359,000 | |
| Per Square Foot | $307 | |
| Days on Market | 0 | |
| Price Decreased | 19% | |
| Price Increased | 16% | |
| Relisted | 10% | |
| Inventory | 31 | |
| Median Rent | $1,499 | |
| Most Expensive | $1,950,000 | |
| Least Expensive | $150,000 | |
| Market Action | 77 | |
| Strong Seller's Market | ||
While this week the median didn’t fluctuate much, we are relatively close to the market’s price high-point. A persistent drop of the Market Action Index into the Buyer’s zone will be a leading indicator of the price strength subsiding.
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 |
|---|---|---|---|---|---|---|---|---|
| $850,000 | 1,829 | 6,500 - 8,000 sqft | 4 | 4 | 49 | 0 | 1 | 56 |
| $539,950 | 1,332 | 0 - 4,500 sqft | 2 | 2 | 15 | 0 | 3 | 56 |
| $302,450 | 1,282 | 0 - 4,500 sqft | 3 | 2 | 24 | 3 | 3 | 0 |
| $191,950 | 832 | 0 - 4,500 sqft | 2 | 1 | 37 | 6 | 7 | 0 |