Tempe Real Estate Market Hits Contracts Low

The Tempe market seems to be nearing a low, as the number of contracts executed fell to 112, the lowest levels since January. Meanwhile, sales came in at 186 homes sold over the last 30 days. When comparing other close-by municipalities within the same period, the most came from Phoenix with 1,441 contracts executed. Potential buyers should note that prices are coming down in Tempe, and for this period the median sales price slid from $255,000 to $250,750. The rising sales and a low three months of inventory point to Tempe being a seller's market.

Early bird gets the worm, so be sure to take a look at these new listings in Tempe:

$549K   $325K   $275K  

Get started right now by checking out Tempe homes for sale or reviewing Tempe real estate trends.

Demographic facts for Tempe:

  • The population density is 4,050.1 people per square mile.
  • The lifestyle rating for this area is 50. (Scale: 1 = Worst, 100 = Best)
  • Residents who travel to work by car account for 72.9% of all commuters, while carpools account for 10.9%, and public transit makes up 4.4%.

Data reported through 10/12/2016

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