Tempe AZ Real Estate Housing Market Report - July 2023

Real Estate Agent with HomeSmart License # SA577557000
Here is the most recent Tempe AZ Real Estate Housing Market Report for July 2023:
After decreasing last month, the average sales price of Tempe homes saw a significant increase this month, going from $556,250 in June to $610,289 in July. This is the 4th increase this year, and the average sales price is approaching the all-time high of $627,613 we saw in July of 2022.
Click on the image below to read the full article and see what is going on in the Tempe Arizona real estate market.
After slightly decreasing last month, the average sold price per square foot of Tempe homes jumped up this month, going from $297/sf in June to $317/sf in July.
After Tempe days on market increased last month, the DOM has decreased this month, going from 52 DOM in June to 49 DOM in July. Homes in Tempe are still selling reasonably fast, and sales should be a little slow through this summer, which is typically the time of the year when the Arizona housing market starts to slow as families settle in for the school year.
Click on the image below to see all Tempe, AZ homes for sale.

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


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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)

Myrl Jeffcoat
Sacramento, CA
Greater Sacramento Realtor - Retired

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

Aug 24, 2023 06:01 PM
Endre Barath, Jr.
Berkshire Hathaway HomeServices California Properties - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Troy I attribute it to when interest rates dropped a bit more buyers jumped off the fence and in turn were competing for the few listings, hence an increase in price points, Endre

Aug 24, 2023 10:31 PM
Troy Erickson AZ Realtor (602) 295-6807
HomeSmart - Chandler, AZ
Your Chandler, Ahwatukee, and East Valley Realtor

Thank you Myrl Jeffcoat, always appreciate your support.

Aug 25, 2023 09:55 AM
Troy Erickson AZ Realtor (602) 295-6807
HomeSmart - Chandler, AZ
Your Chandler, Ahwatukee, and East Valley Realtor

Thank you as always for your contribution Endre Barath, Jr. You obviously know a great deal about real estate and the housing market.

Aug 25, 2023 09:57 AM