Below you will find the statistical breakdown and more for the Tempe area Real Estate Market for January 2019.
Below is a snapshot of January’s Real Estate Market Statistics for Tempe AZ:
The number of new listings in Tempe for January was 206 up 59.7% from December 2018. But in addition, new contracts also increased by 19.9% to 193. We saw 143 home sales completed in January down 9.5% from December. Median sales price was $276,000 down 2.0% from December. There were 289 active listing in Tempe with the average days on market of 72. The average sold price to list price was 96.0% up by .3% from the prior month.
Tempe Homes for Sale by Bedrooms & Median price:
What does this mean if you are a seller?
For sellers, understand that inventory levels in January normally increase. This January was no different. We were up 59.7% vs December. Also, closed sales decreased by 9.5%. This caused the current months of inventory available for Sale to increase by 8% to 2.02. We currently have 2.02 months of inventory available for Sale. This continues to shows that Tempe remains in a strong seller’s market. If priced correctly, sellers can expect to sell in less than the average 72 days on the market we saw in December. Buyers are not going to overpay, but houses priced correctly and in good condition will sell, often with multiple offers. For January, we saw the list to contract price of 96.0%, up by .3% from December. We also saw the median price drop to $276,000 a 2.0% decrease from December.
What does this mean if you are a buyer?
For buyers, an inventory of 2.02 months (compared to 1.87 months in December) continues to show that Tempe remains in a strong seller’s 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. The buyer has to remain diligent about their offers. If you are serious about an offer, have your agent provide you with comparable properties to determine the best price for the house. Asking for seller concessions or making a low ball offer is 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: