March 2024 began with listings at 102% of the 3 year average of 123 (from 2021-2023).
February’s sales were at 75% of the 3 year average of 126 (from 2021-2023).
Tempe is currently turning over housing inventory once every 1.1 months
Tempe Housing Market Conditions Updated for March 2024
To reduce data errors results are based on:
- Tempe SOLD single family residences, patio homes, and townhomes (ask us about condos)
- List/sales price under $1,000,000
- Size over 1,000 sq ft.
- Calendar month
5 YEARS of sales data below will increase your understanding the local housing market (we have city data archived back to January 2008).
| Month | Total Active | Total Sold | % Sold | MO. INV. | Sq ft | Price | DOM | $$ sq ft | +/- List Price | Active # Foreclo. | % Active Foreclo. | Sold Foreclo. | % Sold Foreclo. |
| Mar-24 | 125 | 0 | 0.0% | ||||||||||
| Feb-24 | 104 | 95 | 91.3% | 1.1 | 1,731 | $508,860 | 56 | $294 | -$10,914 | 0 | 0.0% | 0 | 0.0% |
| Jan-24 | 148 | 59 | 39.9% | 2.5 | 1,681 | $475,638 | 53 | $283 | -$12,989 | 0 | 0.0% | 1 | 1.7% |
| Tempe Housing Market Conditions 2023 | |||||||||||||
| Dec-23 | 163 | 76 | 46.6% | 2.1 | 1,763 | $510,995 | 37 | $290 | -$12,847 | 0 | 0.0% | 0 | 0.0% |
| Nov-23 | 155 | 69 | 44.5% | 2.2 | 1,707 | $471,653 | 46 | $276 | -$14,319 | 0 | 0.0% | 0 | 0.0% |
| Oct-23 | 147 | 88 | 59.9% | 1.7 | 1,754 | $524,027 | 47 | $299 | -$8,087 | 0 | 0.0% | 0 | 0.0% |
| Sep-23 | 126 | 89 | 70.6% | 1.4 | 1,777 | $519,927 | 36 | $293 | -$6,247 | 0 | 0.0% | 0 | 0.0% |
| Aug-23 | 110 | 88 | 80.0% | 1.3 | 1,755 | $518,540 | 40 | $295 | -$8,431 | 0 | 0.0% | 0 | 0.0% |
| Jul-23 | 102 | 74 | 72.5% | 1.4 | 1,599 | $471,394 | 47 | $295 | -$7,041 | 0 | 0.0% | 0 | 0.0% |
| Jun-23 | 89 | 101 | 113.5% | 0.9 | 1,712 | $498,075 | 46 | $291 | -$6,659 | 1 | 1.1% | 1 | 1.0% |
| May-23 | 87 | 102 | 117.2% | 0.9 | 1,745 | $512,053 | 40 | $293 | -$6,399 | 1 | 1.1% | 0 | 0.0% |
| Apr-23 | 102 | 92 | 90.2% | 1.1 | 1,758 | $474,416 | 58 | $270 | 1 | 1.0% | 0 | 0.0% | |
| Mar-23 | 128 | 92 | 71.9% | 1.4 | 1,626 | $449,678 | 75 | $277 | 0 | 0.0% | 0 | 0.0% | |
| Feb-23 | 143 | 82 | 57.3% | 1.7 | 1,658 | $471,908 | 72 | $285 | 0 | 0.0% | 0 | 0.0% | |
| Jan-23 | 176 | 76 | 43.2% | 2.3 | 1,760 | $469,844 | 68 | $267 | 0 | 0.0% | 0 | 0.0% | |
| Tempe Housing Market Conditions 2022 | |||||||||||||
| Dec-22 | 208 | 85 | 40.9% | 2.4 | 1,825 | $488,484 | 68 | $268 | 0 | 0.0% | 0 | 0.0% | |
| Nov-22 | 239 | 75 | 31.4% | 3.2 | 1,838 | $471,704 | 50 | $257 | 0 | 0.0% | 0 | 0.0% | |
| Oct-22 | 256 | 100 | 39.1% | 2.6 | 1,737 | $502,988 | 45 | $290 | 0 | 0.0% | 0 | 0.0% | |
| Sep-22 | 272 | 103 | 37.9% | 2.6 | 1,738 | $502,989 | 46 | $289 | 0 | 0.0% | 0 | 0.0% | |
| Aug-22 | 270 | 114 | 42.2% | 2.4 | 1,719 | $505,799 | 34 | $294 | 0 | 0.0% | 0 | 0.0% | |
| Jul-22 | 192 | 109 | 56.8% | 1.8 | 1,741 | $519,040 | 23 | $298 | 0 | 0.0% | 0 | 0.0% | |
| Jun-22 | 121 | 149 | 123.1% | 0.8 | 1,732 | $539,292 | 20 | $311 | 0 | 0.0% | 0 | 0.0% | |
| May-22 | 70 | 157 | 224.3% | 0.4 | 1,699 | $534,267 | 20 | $314 | 0 | 0.0% | 0 | 0.0% | |
| Apr-22 | 57 | 139 | 243.9% | 0.4 | 1,782 | $553,940 | 21 | $311 | 0 | 0.0% | 0 | 0.0% | |
| Mar-22 | 48 | 149 | 310.4% | 0.3 | 1,799 | $531,940 | 29 | $296 | 0 | 0.0% | 1 | 0.7% | |
| Feb-22 | 63 | 130 | 206.3% | 0.5 | 1,765 | $516,441 | 28 | $293 | 0 | 0.0% | 0 | 0.0% | |
| Jan-22 | 70 | 138 | 197.1% | 0.5 | 1,753 | $493,215 | 34 | $281 | 0 | 0.0% | 0 | 0.0% | |
| Tempe Housing Market Conditions 2021 | |||||||||||||
| Dec-21 | 102 | 149 | 146.1% | 0.7 | 1,801 | $488,267 | 29 | $271 | 1 | 1.0% | 2 | 1.3% | |
| Nov-21 | 130 | 167 | 128.5% | 0.8 | 1,612 | $448,206 | 32 | $278 | 0 | 0.0% | 0 | 0.0% | |
| Oct-21 | 125 | 174 | 139.2% | 0.7 | 1,763 | $471,943 | 30 | $268 | 0 | 0.0% | 0 | 0.0% | |
| Sep-21 | 128 | 175 | 136.7% | 0.7 | 1,739 | $459,276 | 27 | $264 | 0 | 0.0% | 0 | 0.0% | |
| Aug-21 | 121 | 189 | 156.2% | 0.6 | 1,707 | $459,827 | 24 | $269 | 1 | 0.8% | 0 | 0.0% | |
| Jul-21 | 97 | 178 | 183.5% | 0.5 | 1,690 | $442,669 | 22 | $262 | 0 | 0.0% | 0 | 0.0% | |
| Jun-21 | 65 | 187 | 287.7% | 0.3 | 1,782 | $471,446 | 20 | $265 | 0 | 0.0% | 0 | 0.0% | |
| May-21 | 48 | 157 | 327.1% | 0.3 | 1,816 | $463,935 | 21 | $255 | 0 | 0.0% | 0 | 0.0% | |
| Apr-21 | 60 | 190 | 316.7% | 0.3 | 1,757 | $428,097 | 24 | $244 | 1 | 1.7% | 1 | 0.5% | |
| Mar-21 | 46 | 176 | 382.6% | 0.3 | 1,756 | $414,071 | 26 | $236 | 0 | 0.0% | 0 | 0.0% | |
| Feb-21 | 57 | 160 | 280.7% | 0.4 | 1,731 | $391,627 | 30 | $226 | 0 | 0.0% | 0 | 0.0% | |
| Jan-21 | 70 | 141 | 201.4% | 0.5 | 1,746 | $383,451 | 42 | $220 | 0 | 0.0% | 1 | 0.7% | |
| Tempe Housing Market Conditions 2020 | |||||||||||||
| Dec-20 | 113 | 169 | 149.6% | 0.7 | 1,751 | $387,376 | 44 | $221 | 0 | 0.0% | 0 | 0.0% | |
| Nov-20 | 127 | 165 | 129.9% | 0.8 | 1,803 | $395,280 | 41 | $219 | 0 | 0.0% | 1 | 0.6% | |
| Oct-20 | 131 | 185 | 141.2% | 0.7 | 1,826 | $396,449 | 31 | $217 | 0 | 0.0% | 0 | 0.0% | |
| Sep-20 | 109 | 186 | 170.6% | 0.6 | 1,836 | $393,940 | 35 | $215 | 0 | 0.0% | 0 | 0.0% | |
| Aug-20 | 134 | 167 | 124.6% | 0.8 | 1,749 | $364,854 | 31 | $209 | 0 | 0.0% | 0 | 0.0% | |
| Jul-20 | 122 | 211 | 173.0% | 0.6 | 1,717 | $361,520 | 39 | $211 | 0 | 0.0% | 0 | 0.0% | |
| Jun-20 | 132 | 184 | 139.4% | 0.7 | 1,846 | $371,790 | 42 | $201 | 0 | 0.0% | 2 | 1.1% | |
| May-20 | 160 | 125 | 78.1% | 1.3 | 1,760 | $350,854 | 38 | $199 | 0 | 0.0% | 0 | 0.0% | |
| Apr-20 | 173 | 119 | 68.8% | 1.5 | 1,704 | $346,798 | 31 | $204 | 1 | 0.6% | 0 | 0.0% | |
| Mar-20 | 114 | 151 | 132.5% | 0.8 | 1,867 | $370,513 | 39 | $198 | 0 | 0.0% | 0 | 0.0% | |
| Feb-20 | 117 | 137 | 117.1% | 0.9 | 1,748 | $334,824 | 41 | $192 | 2 | 1.7% | 1 | 0.7% | |
| Jan-20 | 129 | 128 | 99.2% | 1.0 | 1,773 | $343,237 | 53 | $194 | 0 | 0.0% | 0 | 0.0% | |
| Tempe Housing Market Conditions 2019 | |||||||||||||
| Dec-19 | 160 | 123 | 76.9% | 1.3 | 1,777 | $337,812 | 38 | $190 | 0 | 0.0% | 0 | 0.0% | |
| Nov-19 | 152 | 126 | 82.9% | 1.2 | 1,864 | $347,678 | 38 | $187 | 0 | 0.0% | 0 | 0.0% | |
| Oct-19 | 173 | 148 | 85.5% | 1.2 | 1,782 | $347,146 | 41 | $195 | 0 | 0.0% | 0 | 0.0% | |
| Sep-19 | 158 | 173 | 109.5% | 0.9 | 1,790 | $332,400 | 43 | $186 | 0 | 0.0% | 1 | 0.6% | |
| Aug-19 | 190 | 189 | 99.5% | 1.0 | 1,786 | $332,606 | 47 | $186 | 1 | 0.5% | 2 | 1.1% | |
| Jul-19 | 192 | 181 | 94.3% | 1.1 | 1,776 | $331,940 | 47 | $187 | 0 | 0.0% | 0 | 0.0% | |
| Jun-19 | 207 | 156 | 75.4% | 1.3 | 1,841 | $339,593 | 51 | $184 | 0 | 0.0% | 0 | 0.0% | |
| May-19 | 193 | 214 | 110.9% | 0.9 | 1,780 | $323,941 | 53 | $182 | 0 | 0.0% | 1 | 0.5% | |
| Apr-19 | 209 | 182 | 87.1% | 1.1 | 1,819 | $330,625 | 53 | $182 | 2 | 1.0% | 1 | 0.5% | |
| Mar-19 | 231 | 148 | 64.1% | 1.6 | 1,801 | $317,758 | 64 | $176 | 1 | 0.4% | 0 | 0.0% | |
| Feb-19 | 227 | 127 | 55.9% | 1.8 | 1,738 | $311,087 | 57 | $179 | 0 | 0.0% | 2 | 1.6% | |
| Jan-19 | 229 | 115 | 50.2% | 2.0 | 1,746 | $307,883 | 73 | $176 | 3 | 1.3% | 2 | 1.7% | |
NOTE: we use the term “foreclosure” to describe bank owned homes and short sales because most people are familiar with it. “Distressed Properties” may be more accurate.
- Total Active – # of homes for sale at the beginning of the current month
- Total Sold – # of homes sold in the current month
- % Sold – a ratio of total sold to total active
- MO. INV. – based on total sold, how many months it would take to sell the total “active” inventory
- Sq ft – average square footage of sold homes
- Price – average sales price of sold homes
- DOM – Days On Market, or average days to sale
- $ sq ft – average price per square foot
- +/- List Price – the average dollars received by sellers above or below their average list prices
- Active # Foreclo. – # distressed properties for sale at beginning of month
- % Active Foreclo. – active # distressed properties expressed as a %
- Sold Foreclo. – # distressed properties sold in current month
- % Sold Foreclo. – # distressed properties expressed as a %
State: Arizona
County: Maricopa
Location: Tempe
ZIP or Postal Code(s): 85281, 85282, 85283, 85284
Tempe Fast Facts
Tempe Fast Facts:
- 182,498 population in 2017 making it the 7th largest city in Metro Phoenix and 8th in state.
- About 40 square miles in size.
- Tempe Town Lake is 2 miles long, 800-1200 feet wide, has an average depth of 12.5 feet, holds 977 million gallons of water, and was built for the initial cost of $45,000,000 ($26,000,000 absorbed by private developers).
- Arizona State University (ASU) had a 2017 enrollment of 103,410 students as follows: ~72,000 spread over 5 campuses and the remaining ~31,000 participate in online classes.
- ASU’s main campus occupies 700 acres in the heart of Tempe
- Tempe Elementary schools have been recognized as Arizona A+ and national Blue Ribbon award-winners for their academic excellence.
- Two major malls are in Tempe: Arizona Mill Mall and Tempe Marketplace
- Grady Gammage Theater at ASU and Tempe Center for the Arts are two highly respected culteral centers.
- Tempe is landlocked being surrounded by Phoenix, Scottsdale, Mesa, and Chandler.
- 51 public parks including the 125 acre Kiwanis Park featuring a lake and 54,000 square foot recreation center.
Return here frequently for updated Tempe Housing Market Conditions and Homes for Sale in Tempe AZ by Tempe Realtors looking out for your best interests.
