Half of 2017 is gone, incredible as it may sound! During all six months of this year the real estate market in Tempe AZ has been very active and attractive for Sellers and Buyers - with the beautifully updated homes for Buyers to choose and with the short days on the market for Sellers' delight.
Tempe Real Estate Market Dynamics
All Types of Homes (Detached & Attached)
| June 2017 | June 2016 | June 2015 | |
| Median Days on the Market | 34 | 39 | 41 |
| Number of Closed Sales | 232 | 230 | 235 |
| Median Sales Price Per sq. ft. | $165 | $ 154 | $144 |
Source: ARMLS, June 2017
From the table above, it seems that over the last three years there has been a pretty stable demand for 230-235 homes per month in June. We can also see that this year homes sell faster and at a higher price than in prior years. The median sales price per square foot now is $165 p/ sq.ft., $21 higher than two years ago. Please notice that this is a median price - premiums for location, updates, size of yard have caused the highest prices to be around $280 per square foot.
If you would like to further discuss Tempe real estate, please give me a call.
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