Here is the most recent Tempe AZ Real Estate Housing Market Report for February 2023:
After slightly decreasing last month the average sales price of Tempe homes increased in February, going from $521,542 in January to $527,767 this month. This is the third February out of the last four that Tempe average home prices have increased.
The average sold price per square foot of Tempe homes has increased for the second straight month, after decreasing the last two months, going from $270/sf in December to $292/sf in February.
After Tempe days on market reached an all-time low of 20 in May and June, it has increased 8 months in a row. Tempe DOM increased to 79 in February. Even with this increase, homes in Tempe are still selling reasonably fast. However, sales may pick up as we head into spring, which is typically the time of the year when the Arizona housing market picks up.
The average sold price per square foot of Tempe homes has increased for the second straight month, after decreasing the last two months, going from $270/sf in December to $292/sf in February.
After Tempe days on market reached an all-time low of 20 in May and June, it has increased 8 months in a row. Tempe DOM increased to 79 in February. Even with this increase, homes in Tempe are still selling reasonably fast. However, sales may pick up as we head into spring, which is typically the time of the year when the Arizona housing market picks up.
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.
Comments(2)