Here is the most recent Tempe AZ Real Estate Housing Market Report for October 2022:
The average sales price of Tempe homes has decreased for the third straight month after increasing for eight months in a row and reaching an all-time high of $627,613 in July. Tempe average home prices dropped to $551,037 in October.
The average sold price per square foot of Tempe homes increased for the second straight month after decreasing for three straight months, increasing from $301/sf in September to $304/sf in October.
After Tempe days on market reached an all-time low of 20 in May and June, it has now increased four months in a row. Tempe DOM increased to 48 in October. Even with this increase to 48 DOM, homes in Tempe are still selling fast, but sales should slow down as the fall and winter are traditionally slower times for the Arizona housing market.
The average sold price per square foot of Tempe homes increased for the second straight month after decreasing for three straight months, increasing from $301/sf in September to $304/sf in October.
After Tempe days on market reached an all-time low of 20 in May and June, it has now increased four months in a row. Tempe DOM increased to 48 in October. Even with this increase to 48 DOM, homes in Tempe are still selling fast, but sales should slow down as the fall and winter are traditionally slower times for the Arizona housing market.
Click on the image below to read the full article and see what is going on in the Tempe Arizona real estate market.
Feel free to reach out to me if you have any questions about buying a home, selling your home, or investing in the Tempe, AZ or East Valley areas. Just give me a call or text at 602-295-6807 and I will be glad to help.
"Real Estate is not just a job for me,
it's about making a difference in the lives of others"
Troy Erickson Realtor | Call/Text: 602-295-6807 | TroyEricksonRealtor@gmail.com
Troy Erickson has been blogging about Arizona real estate since 2006. He is a residential real estate agent who specializes in helping home buyers, sellers, and investors in Chandler and the East Valley. He has been recognized for his local market expertise, and frequently volunteers within his community.
Comments(2)