Here is the most recent Tempe Real Estate Housing Market Report for February 2021:
After increasing $11,000 in January, the average sales price of homes in Tempe decreased over $13k in February, down to $438,013. However, the average sold price per square foot increased to $239/sf.
Days on market has decreased for the second straight month, down to an all-time low of 30 DOM for February.
Tempe home sales jumped in February to 113, which is the highest for that month since 2018. It is typical for home sales to start off slow in the beginning of a new year, but if this trend continues, it may be a good year for home sales in Tempe.
The number of new listings is down -7.7% from February of last year, and the number of active listings is also down -24.6% from February of last year.
The lack of listings continues to drive demand and home prices higher, so if the number of listings continues to be less than in previous years, expect home values to continue to increase.
With that said, median home values in Tempe have increased an average of 22.6% since February of 2020. With interest rates remaining around 3.0%, there will still be more buyers looking to purchase in 2021.
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"
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 Phoenix and the East Valley. He has been recognized for his local market expertise, and frequently volunteers within his community.