Is Tempe, AZ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2021
Since last year, Tempe has remained a Seller's Market.
Key Takeaway
Tempe is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
How much do homes in Tempe, AZ cost?
Median Sold Price
$450,000
$282/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2021
+$89,950(+25.0%)
Key Takeaway
Homes in Tempe have sold for 25% more than they did a year ago.
Median Sold Price By Bedroom Count
| # BEDS | May 2021 | May 2022 | % |
|---|---|---|---|
| 1 Bedroom | $172K | $219K | +27.3% |
| 2 Bedrooms | $245.3K | $311K | +26.8% |
| 3 Bedrooms | $358.1K | $449.9K | +25.6% |
| 4 Bedrooms | $454.9K | $550K | +20.9% |
| 5+ Bedrooms | $555K | $667K | +20.2% |
How many homes are available in Tempe, AZ?
Number of Homes For Sale
| Apr 2022 | May 2022 | % |
|---|---|---|
| 468 | 489 | +4.5% |
Homes For Sale By Bedroom Count
| # BEDS | Apr 2022 | May 2022 | % |
|---|---|---|---|
| 1 Bedroom | 15 | 17 | +13.3% |
| 2 Bedrooms | 107 | 101 | -5.6%  |
| 3 Bedrooms | 193 | 199 | +3.1% |
| 4 Bedrooms | 121 | 135 | +11.6% |
| 5+ Bedrooms | 32 | 37 | +15.6% |
Number of Homes Sold
| Apr 2022 | May 2022 | % |
|---|---|---|
| 170 | 166 | -2.4% |
Asking Price vs. Sold Price
42 Homes Were Sold
Under Asking
29 Homes Were Sold
At Asking
95 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Tempe, you could pay more than the asking price. 57.2% of homes here sold above asking price last month.
Average Sale Time
| May 2021 | May 2022 | % |
|---|---|---|
| 21 Days | 21 Days | -2.1% |
Breakdown of Home Sale Times
116 Homes Were Sold
Under 30 Days
48 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Tempe are selling fast, if you're buying plan to act quickly.
The data relating to real estate for sale on this site comes from the Broker Reciprocity/IDX of Arizona Regional Multiple Listing Service, Inc. Indicates a property listed by a real estate brokerage other than this broker. All information should be verified by the recipient and none is guaranteed as accurate by ARMLS. No warranties, expressed or implied, are provided for the data herein, or for their use or interpretation by the user. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Arizona Regional Multiple Listing Service, Inc. do not create, control or review the property data displayed herein and take no responsibility for the content of such records. Federal law prohibits discrimination on the basis of race, color, religion, sex, handicap, familial status or national origin in the sale, rental or financing of housing. Information deemed reliable but not guaranteed. Copyright© 2022 Arizona Regional Multiple Listing Service, Inc. All Rights Reserved.