Housing statistics for homes in Tempe, AZ, 85282 priced between $400,000 and $600,000 reflect slightly more inventory, increasing days on market, but also rising prices. There is no indication of prices dropping and it's still a sellers market. We expect this to continue on into 2022.
Active listings in 85282, priced between $400,000 and $600,000 have increased by 64% year over year. Even though that sounds like a lot, it's not overall. Active listings show 36 as of 10/3/21, while there were 13 listings the same week a year ago, during the frenzy!
Are listings selling as fast as they were a year ago? Currently, homes in 85282 priced between $400,000 and $600,000 are selling in about 32 days, up from 28 days a year ago. That's a VERY minor difference in a year; meaning that demand is still in tact for 85282 in these price ranges. Compare that to the far left of the graph when it took 315 days in June of 2015 to sell a home in this zip code and price range!
The Annual Sales rate for homes in 85282 for homes in the above price ranges has risen dramatically during the last 2 years. In October, 2019, 57 homes sold and now 2 years later, 267 homes have sold!
In all of 85282, average sales prices have increased 21% year over year for all price ranges. Check out the 2011 price per square foot; at that time it was $83 versus $270 for October, 2021.
If you're looking to sell your home in 85282, now is a good time. We don't have a crystal ball in real estate, however, charts like these show us buyer and seller decisions. Always look for an agent to help you sell or buy that can explain the market statistics!