Tempe Condos

Tempe Condos Market Highlights

As of Jul 10, 2025, the condo/townhome/patio home market in Tempe exhibits notable trends as we move deeper into the year.

• The number of active listings currently stands at 155, reflecting an increase from 133 just three months ago.
• The average price for active listings has climbed to $380,939, showing a positive trajectory compared to the $361,541 average seen three months prior.
• Meanwhile, days on market (DOM) have expanded, currently reaching 72 days, which implies a slower pace of sales over the past quarter.
• In terms of months of inventory, there are currently 3.8 months available, suggesting a market that favors sellers but is beginning to level off as inventory rises.

An In-Depth Look at the Tempe Condos Market

In analyzing the current conditions in the condo/townhome/patio home market of Tempe, we see a blend of emerging trends that are reshaping buyer and seller dynamics.

• Currently, the inventory level has increased to 155 active listings, up from 133 three months ago. This represents a trend that may bring more options for buyers, but it’s essential to note that a rise in listings can sometimes indicate a cooling demand, especially as the months of inventory is recorded at 3.8, suggesting a slight shift from a very competitive market.
• The average price for active listings has grown from $361,541 to $380,939 over the last three months, marking a solid increase of around 5.5%. However, this uptrend is countered by a lengthening average DOM which now sits at 72 days, a notable increase from 65 days three months ago.
• The number of sold listings currently stands at 11, with an average sold price of $322,909 reflecting a more conservative pricing environment compared to last quarter's higher averages.
• Moreover, the sold price to original list price ratio dropped to 94%, down from 96% three months ago, indicating that buyers are negotiating more aggressively, potentially in response to increased inventory.
• When considering the DOM for homes sold, there is an observable 40-day average, suggesting that while active listings are taking longer to sell, those that do close are still seeing sales within a reasonable timeframe.

Overall, while the market shows a healthier level of inventory for buyers, the rising prices coupled with expanding days on market may signal the need for buyers to be strategic, while sellers may need to adjust their expectations accordingly.