Downtown Tempe Condos

Downtown Tempe Condos Market Highlights

As of Nov 9, 2025, the condos/townhomes/patio homes market in Downtown Tempe is demonstrating notable activity shifts, with trends affecting both buyers and sellers.

• Currently, the number of active listings has increased to 145, reflecting a rise from 113 three months ago.
• Meanwhile, the average sold price has notably dropped to $261,250, down from $325,693 just three months prior.
• In terms of inventory, the months of inventory is currently at 4.9, indicating a stable market but with room for buyer negotiations.
• Days on Market (DOM) are currently at 85 days, suggesting a prolonged selling period, indicating that while the market is active, it may be favoring savvy buyers.

An In-Depth Look at the Downtown Tempe Condos Market

In detail, the Downtown Tempe real estate landscape for condos/townhomes/patio homes, as of Nov 9, 2025, reflects essential trends that are shaping potential market dynamics.

• Starting with inventory, the total number of active listings has climbed to 145, up from 113 three months ago, which points to an increase in supply relative to what buyers have seen recently.
• The average price per square foot for active listings is now sitting at $309, which shows a slight uptick from $296 three months back, suggesting that while prices are stabilizing, they are not declining significantly.
• However, the sold listings convey a contrasting narrative: sold prices have decreased to $261,250, from $325,693 in August. This substantial drop of nearly 19.7% may indicate a response to a more competitive purchasing environment or potential adjustments from sellers eager to move inventory more quickly.
• The DOM has increased slightly, now at 85 days compared to 66 days three months ago, illustrating a market that could be cooling, making it essential for sellers to price strategically if they want to sell timely.
• The months of inventory currently stands at 4.9, indicating a balanced market, as typically, a range between 4 to 6 months suggests that neither buyers nor sellers have an overwhelming advantage.
• Furthermore, the pending listings, with an average price of $307,251, indicates that while buyers are more willing to negotiate lower prices, they seem to do so within a defined range that is still substantial compared to current active listings.

In essence, the current market trends reflect a nuanced environment where increased active listings and declining sold prices grant buyers more leverage, positioning sellers to possibly reconsider their pricing strategies. Keeping an eye on the fluctuations in DOM and inventory levels will be critical for both parties moving forward.