Tempe Real Estate Market Report May 2017
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Below are all the Homes available in the city of Tempe by Dollar amount and type:
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Below is a snapshot of Tempe’s Real Estate Market Statistics for April 2017;
We saw new listings in Tempe decrease to 252, while homes under contract decreased to 248. Closed sales for April were down slightly at 212 home sales closing. We saw the median sold price increase significantly from $255,000 to $264,750. Active listings are up slightly at 303 homes, and average days on the market decreased to only 58 days. The average sold to list price decreased to 96.6, flat with March’s 96.9%.
Tempe Homes for Sale by Bedrooms & Median price:
How should this Data be interpreted?
Tempe currently has 303 homes for sale, compared with 272 at the end of March. Homes under contract were down from March’s 285 homes to 248 homes. Closed sales also decreased slightly from 226 homes in March to 212 in April. The average day’s homes were on the market in Tempe decreased from 62 days to only 58days to only 62 days. The sale to list price for Tempe increased from 96.2% to 96.9%
What does this mean if you are selling a Home in Tempe?
As a seller, we saw inventory levels increased slightly and new contracts decreased 13% from March. For April, we saw average days on the market decrease from 62 days to 58 days. If priced correctly, sellers can expect to sell in less than the average 58 days. Buyers are not going to overpay, but houses priced correctly and in good condition will sell, often with multiple offers. For April, we saw the list to contract price was 96.6%, down slightly from 96.9% in April. We also saw the median price increase $255,000 to $264.750. This continues to be a good time to sell.
What does this mean if you are buying a Home in Tempe?
Inventory is up in Tempe in April compared to March, and sales homes under contract are down 13.0%. In spite of the increase in inventory, homes are selling faster and for more money. With only 1.4 months of inventory, buyers need to be quick when making decisions and put forth their best offer. Buyers have less inventory to choose from and homes are selling closer to list price. A serious buyer should think carefully and discuss with their real estate agent whether asking for seller concessions and offer significantly below list price is good strategy.
Below are Homes that have come on the Market in the last 7 Days around the Median price range. Also below the pictures, you will see a link to additional homes in this price range:
Since we are focusing on the Market Statistics for East Valley locations, below you will see the links specifically for those cities:
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