$4,156 Closing Credit*
$350,000
1,227 SqFt
3 Beds
•2 Baths
Grant MacKenzie, Listing Office: Realty85
Is Tempe, AZ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
At the same time last year, Tempe was a Seller's Market.
Key Takeaway
Tempe is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Tempe, AZ
How much do homes in Tempe, AZ cost?
Median Sold Price
$479,747
$304/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$29,747(+6.6%)
Key Takeaway
Homes in Tempe have sold for 6.6% more than they did a year ago.
Summary: The median home sold price in Tempe was $479,747 in November 2024, up 6.6% from last year, and the median price per square foot was $304.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $250K | $238.5K | -4.6% |
| 2 Bedrooms | $329.9K | $330K | 0.0% |
| 3 Bedrooms | $448.3K | $475K | +5.9% |
| 4 Bedrooms | $555K | $563.8K | +1.6% |
| 5+ Bedrooms | $680K | $752K | +10.6% |
Summary: Tempe housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 4.6%, 2 bedroom homes did not change, 3 bedroom homes increased by 5.9%, 4 bedroom homes increased by 1.6%, and 5+ bedroom homes increased by 10.6%.
Housing Supply in Tempe, AZ
How many homes are available in Tempe, AZ?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 517 | 500 | -3.3% |
Summary: The Tempe real estate market had 500 homes for sale in November 2024, a 3.3% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 23 | 20 | -13.0% |
| 2 Bedrooms | 116 | 124 | +6.9% |
| 3 Bedrooms | 200 | 192 | -4.0% |
| 4 Bedrooms | 143 | 124 | -13.3% |
| 5+ Bedrooms | 35 | 40 | +14.3% |
Summary: The Tempe housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 13%, 2 bedroom homes increased by 6.9%, 3 bedroom homes decreased by 4%, 4 bedroom homes decreased by 13.3%, and 5+ bedroom homes increased by 14.3%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 118 | 82 | -30.5% |
Asking Price vs. Sold Price
46 Homes Were Sold
Under Asking
23 Homes Were Sold
At Asking
13 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Tempe, you may be able to get a good deal. 56.1% of homes here sold below asking price last month.
Summary: A total of 82 homes were sold or pending in Tempe in November 2024, down by 30.5% month-over-month. Of the 82 sold homes, 56% were sold under asking, 28% were sold at asking, and 16% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 48 Days | 52 Days | +9.3% |
Summary: Homes in Tempe had an average of 52 days on market in Nov 2024, up by 9.3% compared to last year.
Breakdown of Home Sale Times
26 Homes Were Sold
Under 30 Days
43 Homes Were Sold
In 30 - 90 Days
13 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Tempe has remained consistent over time.
Summary: During November 2024, 82 homes were sold in Tempe; 32% of homes were sold within 30 days, 52% of homes were sold within 30 to 90 days, and 16% 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.