Tempe Real Estate Housing Market Report - November 2020

By
Real Estate Agent with Good Company Real Estate License # SA577557000
Here is the most recent Tempe Real Estate Housing Market Report for November 2020:
 
The average sales price of homes in Tempe dropped in November after almost reaching $450,000 in October, while the average sold price per square foot increased to $228/sf. Days on market has increased for the third straight month, up to 39 DOM.
 
 
Tempe home sales are much higher than in November of last year, up 28.1%, which I believe may have something to do with the COVID-19 pandemic extending the summer home sales season, and the continued high demand for homes in the Phoenix Metropolitan area.
 
The number of new listings is down -11.1% from November of last year, and the number of active listings is also down -10.1% from November of last year.
 
The lack of listings continues to drive demand and home prices higher, so if listings continue to be less than previous years, expect home values to continue to increase.
 
With that said, median home values in Tempe have increased an average of 10.2% since November of 2019. With interest rates remaining around 3.0%, there are still more buyers looking to purchase heading into the winter.
 
Click on the following link to see all current Tempe Arizona Homes For Sale.
 
For more detailed stats on the Tempe Housing Market, just click on the image below. Then call/text me when you are ready to buy or sell your next home.

 

When you're ready to buy, sell (or both), or invest in East Valley real estate, reach out to me se we can put your plans into motion. With low mortgage rates leading the way, it's a great time to take advantage of your position in today's market.

If you're thinking of selling, many buyers will be eager to find a home just like yours due to the low inventory of available homes for sale. Reach out to me today to make sure you can get your house in on the action.
If you're thinking of buying a home, more homes are being listed for sale, and interest rates remain at historically low rates. Being a trusted real estate professional, I can answer your questions and help you determine your next steps.
Feel free to reach out to me if you have any questions about home buying, selling, or investing in the Phoenix Metro 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"
 
Call/Text: 602-295-6807
 
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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         Contact Troy Erickson, Realtor®, Good Company Real Estate

Licensed Residential Realtor® in Arizona at 602-295-6807

 

Reach out to me for all your Phoenix, Chandler, Ahwatukee, Tempe, Gilbert, and Scottsdale, Arizona Real Estate needs.

 

Check out our website for all Arizona Real Estate and Homes For Sale in subdivisions like Sun Lakes, Ocotillo, Lakewood, Mountain Park Ranch, Pepperwood, Circle G Ranches, and many others throughout the East Valley.

 

"Real Estate is more than just about a job for me. It is about making a difference in the lives of others. I help people just like you Buy, Sell, and Invest in East Valley Arizona Real Estate!"

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This post is for informational purposes only and should not be construed as legal advice. If you desire specific legal or tax advice, please consult the appropriate professional. The opinions expressed here represent my own and not those of my employer. Troy Erickson will not be held liable for any errors, ommissions, accuracy, validity, currentness, suitability, completeness; or any losses, injuries or damages arising from its display or use.

Comments (1)

Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Troy love how you do these reports, hope they will generate buyers and seller, Endre

Jan 12, 2021 10:00 PM