Tempe

Tempe shows stability for time on market

The Median Number of Days on the Market was 35 days for homes sold in Tempe last month. This was up just a day YoY from 34 days last May. The seasonal pattern shows longer times to sell in the fall/winter and shorter times in the spring/summer, but otherwise the market has been mostly consistent over the last few years.

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- Chris Butterworth

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Simple MLS Charts is supported by readers like you. If you find these charts useful, please consider becoming a patron with a small monthly pledge on Patreon.

* All chart data represents single-family detached homes only. Information is believed accurate but not guaranteed.

 

Prices Rise across the East Valley

The Median Sales Price rose across the East Valley in April, when compared YoY with April 2018. Chandler, Gilbert and Mesa rose modestly (3-5%), while Tempe’s median price rose sharply (8%) from $310,000 in Apr ‘18 to $335,885 in Apr ‘19.

It’s also interesting to see the median prices bunched together so closely, with Chandler, Gilbert, and Tempe all within a couple thousand dollars of each other. I’m not sure exactly what this means, if anything, but it’s unusual compared with other time periods and other parts of the Valley.

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- Chris Butterworth

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Simple MLS Charts is supported by readers like you. If you find these charts useful, please consider becoming a patron with a small monthly pledge on Patreon.

* All chart data represents single-family detached homes only. Information is believed accurate but not guaranteed.

 

Tempe Prices up 8% in April

Looking at sales in April going back to 2011, and prices have risen in Tempe every year. The median sales price in April ‘19 was $335,885 - up 8% from $310,000 in April ‘18 and 150% since 2011.

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- Chris Butterworth

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Simple MLS Charts is supported by readers like you. If you find these charts useful, please consider becoming a patron with a small monthly pledge on Patreon.

* All chart data represents single-family detached homes only. Information is believed accurate but not guaranteed.

 

Tempe prices up 9% in 1st Quarter

The chart shows Tempe’s price per square foot has risen consistently over the last few years, with most of the growth coming in the 1st and 2nd quarters, while the 3rd and 4th quarters tend to level out. 1st Quarter 2019 had a median $184.50 / sqft, 8.9% higher than last year’s median $169.62.

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- Chris Butterworth

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Simple MLS Charts is supported by readers like you. If you find these charts useful, please consider becoming a patron with a small monthly pledge on Patreon.

* All chart data represents single-family detached homes only. Information is believed accurate but not guaranteed.

 

Another 7.5% Increase in Tempe

Looking at February sales, we can see Tempe’s Median Sales Price was up 7.5% YoY compared with Feb ‘18 and the median price has more than doubled during this decade.

2014 is an interesting blip in the chart, well above the overall trendline. When examining the sales from Feb ‘14, the difference is that there were far fewer low-priced home sales than normal that month (ie: homes selling for less than $110,000.) So, although there were a normal amount of mid-priced and high-priced homes, the lack of low-priced homes that month pushed the median price higher. That is a good old fashioned statistical anomaly; the rest of the chart shows a near perfect price appreciation trend.

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- Chris Butterworth

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Simple MLS Charts is supported by readers like you. If you find these charts useful, please consider becoming a patron with a small monthly pledge on Patreon.

* All chart data represents single-family detached homes only. Information is believed accurate but not guaranteed.