Here is the most recent Tempe AZ Real Estate Housing Market Report for January 2023:
After slightly increasing last month the average sales price of Tempe homes decreased to begin 2023, going from $539,099 in December to $521,542 this month. This is the first January that Tempe average home prices have decreased since before at least 2019.
The average sold price per square foot of Tempe homes saw a nice increase in January, after decreasing the last two months, going from $270/sf in December to $278/sf in January.
After Tempe days on market reached an all-time low of 20 in May and June, it has increased 7 months in a row. Tempe DOM increased to 66 in January. Even with this increase, homes in Tempe are still selling reasonably fast. However, sales should slow down early in the new year, which is the slowest time of the year for the Arizona housing market.
The average sold price per square foot of Tempe homes saw a nice increase in January, after decreasing the last two months, going from $270/sf in December to $278/sf in January.
After Tempe days on market reached an all-time low of 20 in May and June, it has increased 7 months in a row. Tempe DOM increased to 66 in January. Even with this increase, homes in Tempe are still selling reasonably fast. However, sales should slow down early in the new year, which is the slowest time of the year 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.
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