$10,000 Closing Credit*
$2,300,000
3,997 SqFt
5 Beds
•3 Baths
Christine Ong, Listing Office: eXp Realty
Is Tempe, AZ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
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.
Housing Prices in Tempe, AZ
How much do homes in Tempe, AZ cost?
Median Sold Price
$475,000
$303/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$25,012(+5.6%)
Key Takeaway
Homes in Tempe have sold for 5.6% more than they did a year ago.
Summary: The median home sold price in Tempe was $475,000 in October 2024, up 5.6% from last year, and the median price per square foot was $303.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $250K | $240K | -4.0% |
| 2 Bedrooms | $328.6K | $331.3K | +0.8% |
| 3 Bedrooms | $448.7K | $474.9K | +5.8% |
| 4 Bedrooms | $555K | $560K | +0.9% |
| 5+ Bedrooms | $720K | $751K | +4.3% |
Summary: Tempe housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 4%, 2 bedroom homes increased by 0.8%, 3 bedroom homes increased by 5.8%, 4 bedroom homes increased by 0.9%, and 5+ bedroom homes increased by 4.3%.
Housing Supply in Tempe, AZ
How many homes are available in Tempe, AZ?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 464 | 518 | +11.6% |
Summary: The Tempe real estate market had 518 homes for sale in October 2024, a 11.6% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 20 | 25 | +25.0% |
| 2 Bedrooms | 110 | 117 | +6.4% |
| 3 Bedrooms | 183 | 197 | +7.7% |
| 4 Bedrooms | 123 | 142 | +15.4% |
| 5+ Bedrooms | 28 | 37 | +32.1% |
Summary: The Tempe housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 25%, 2 bedroom homes increased by 6.4%, 3 bedroom homes increased by 7.7%, 4 bedroom homes increased by 15.4%, and 5+ bedroom homes increased by 32.1%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 79 | 120 | +51.9% |
Asking Price vs. Sold Price
73 Homes Were Sold
Under Asking
30 Homes Were Sold
At Asking
17 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Tempe, you may be able to get a good deal. 60.8% of homes here sold below asking price last month.
Summary: A total of 120 homes were sold or pending in Tempe in October 2024, up by 51.9% month-over-month. Of the 120 sold homes, 61% were sold under asking, 25% were sold at asking, and 14% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 45 Days | 48 Days | +6.5% |
Summary: Homes in Tempe had an average of 48 days on market in Oct 2024, up by 6.5% compared to last year.
Breakdown of Home Sale Times
50 Homes Were Sold
Under 30 Days
50 Homes Were Sold
In 30 - 90 Days
20 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Tempe are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 120 homes were sold in Tempe; 42% of homes were sold within 30 days, 42% of homes were sold within 30 to 90 days, and 17% of homes were sold over 90 days.
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 Rocket Homes Real Estate, LLC. 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© 2024 Arizona Regional Multiple Listing Service, Inc. All Rights Reserved.