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Tempe Real Estate Housing Market Report - April 2021

By
Real Estate Agent with HomeSmart License # SA577557000
Here is the most recent Tempe Real Estate Housing Market Report for April 2021:
 
After increasing over $35k in March, the average sales price of homes in Tempe increased almost $55k in April, to a new all-time high of $528,354, and surpassing $500k for the first time. At the same time, the average sold price per square foot increased for the third straight month from $245/sf to $258/sf.
 
Days on market shot up in April to 29 DOM after decreasing the previous three months.
 
 
Tempe home sales slightly increased in April from 126 to 131 for the fourth straight monthly increase, and are 48.9% higher than last April. This is mainly due to the COVID-19 pandemic shutting down the economy last March. 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 decreased 1, to 148 in April, but are actually 4.7% higher than April of last year. The number of active listings increased for the second straight month, from 224 to 232, but are down -19.4% from April 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 24.6% since April of 2020. With interest rates lingering below 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.
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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 (4)

Debe Maxwell, CRS
Savvy + Company (704) 491-3310 - Charlotte, NC
The RIGHT CHARLOTTE REALTOR!

Thanks for sharing what's been going on in Tempe AZ Troy. It's always interesting to see how other markets are doing. Take care!

May 10, 2021 02:10 PM
Myrl Jeffcoat
Sacramento, CA
Greater Sacramento Realtor - Retired

Tempe home buyers and sellers are sure to value your real estate market report, Troy.

May 11, 2021 12:57 AM
Troy Erickson AZ Realtor (602) 295-6807
HomeSmart - Chandler, AZ
Your Chandler, Ahwatukee, and East Valley Realtor

Thank you Debe Maxwell, CRS. It is always interesting to see how the real estate market is in other parts of the U.S. Thank you for your support.

May 11, 2021 10:35 AM
Troy Erickson AZ Realtor (602) 295-6807
HomeSmart - Chandler, AZ
Your Chandler, Ahwatukee, and East Valley Realtor

Always appreciate your kind words and support Myrl Jeffcoat. Hope all is well. 

May 11, 2021 10:36 AM