Below you will find the statistical breakdown and more for the Tempe area Real Estate Market for September 2018.
Below is a snapshot of September’s Real Estate Market Statistics for Tempe AZ:
The number of new listings in Tempe for September was 193 down 35.0% from August. In addition, new contracts also decreased by 17.1% to 203. We saw 193 home sales completed in September also down by 8.5% from August. Median sales price was $285,000 up 5.2% from August. There were 349 active listing in Tempe with the average days on market of 45. The average sold price to list price was 97.0% up by .1% from prior month.
Tempe Homes for Sale by Bedrooms & Median price:
What does this mean if you are a seller?
For sellers, inventory level of 1.81 months went up slightly from prior months 1.66. This still keeps us in a strong seller’s market. If priced correctly, sellers can expect to sell in less than the average 45 days on market we saw in September. Buyers are not going to overpay, but houses priced correctly and in good condition will sell, often with multiple offers. For September, we saw the list to contract price of 97.0% up by .1% from August. We also saw the median price increase by 5.2% to $285,000.
What does this mean if you are a buyer?
For buyers, a inventory of 1.81 months (compared to 1.66 months in August) still indicates we are in a strong sellers market. Sellers continue to have the advantage since there are fewer homes available. Anything under 3 months of inventory is considered a seller’s market. So those homes that are priced right may get multiple offers. The buyer has to remain diligent about their offers. If you are serious about an offer, have your agent provide you comparable properties to determine the best price for the house. Asking for seller concessions or making a low ball offer is still not a good strategy in this seller’s market. Remember, sellers also know the value of their home in this market. Their agents are keeping sellers updated on recent sales and homes similar to theirs as they come on the market.
Homes For Sale in Tempe AZ:
Below are Homes that have come on the Market in the last 7 Days around the Median price range. Also below the pictures, you will see a Chart of all the Tempe homes by price and Type:
Below are all the Homes available in the city of Tempe by Dollar amount and type: