Is Tempe, AZ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since June 2023
Since last year, Tempe has remained a Seller's Market.
Housing Prices in Tempe, AZ
How much do homes in Tempe, AZ cost?
Median Sold Price
$474,617
$303/sqft
Based on all homes sold in the last 12 months.
Difference Since June 2023
Summary: The median home sold price in Tempe was $474,617 in June 2024, up 6.7% from last year, and the median price per square foot was $303.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Jun 2023 | Jun 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $232K | $240K | +3.4% |
2 Bedrooms | $325.9K | $335K | +2.8% |
3 Bedrooms | $441.7K | $471.7K | +6.8% |
4 Bedrooms | $551.6K | $565K | +2.4% |
5+ Bedrooms | $780.2K | $729.7K | -6.5% |
Summary: Tempe housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes increased by 3.4%, 2 bedroom homes increased by 2.8%, 3 bedroom homes increased by 6.8%, 4 bedroom homes increased by 2.4%, and 5+ bedroom homes decreased by 6.5%.
Housing Supply in Tempe, AZ
How many homes are available in Tempe, AZ?
Number of Homes For Sale
May 2024 | Jun 2024 | CHANGE |
---|---|---|
488 | 462 | -5.3% |
Summary: The Tempe real estate market had 462 homes for sale in June 2024, a 5.3% decrease compared to May 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | May 2024 | Jun 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 19 | 15 | -21.1% |
2 Bedrooms | 114 | 113 | -0.9% |
3 Bedrooms | 209 | 196 | -6.2% |
4 Bedrooms | 121 | 114 | -5.8% |
5+ Bedrooms | 25 | 24 | -4.0% |
Summary: The Tempe housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 21.1%, 2 bedroom homes decreased by 0.9%, 3 bedroom homes decreased by 6.2%, 4 bedroom homes decreased by 5.8%, and 5+ bedroom homes decreased by 4%.
Number of Homes Sold
May 2024 | Jun 2024 | CHANGE |
---|---|---|
158 | 130 | -17.7% |
Asking Price vs. Sold Price
75 Homes Were Sold
Under Asking
30 Homes Were Sold
At Asking
25 Homes Were Sold
Over Asking
Summary: A total of 130 homes were sold or pending in Tempe in June 2024, down by 17.7% month-over-month. Of the 130 sold homes, 58% were sold under asking, 23% were sold at asking, and 19% were sold over asking.
Days on Market for Tempe, AZ
How long does it take to sell a home in Tempe, AZ?
Average Sale Time
Jun 2023 | Jun 2024 | CHANGE |
---|---|---|
48 Days | 36 Days | -26.0% |
Summary: Homes in Tempe had an average of 36 days on market in Jun 2024, down by 26% compared to last year.
Breakdown of Home Sale Times
70 Homes Were Sold
Under 30 Days
51 Homes Were Sold
In 30 - 90 Days
9 Homes Were Sold
Over 90 Days
Summary: During June 2024, 130 homes were sold in Tempe; 54% of homes were sold within 30 days, 39% of homes were sold within 30 to 90 days, and 7% of homes were sold over 90 days.