Downtown Tempe Multifamily

Downtown Tempe Multifamily Market Highlights

As of Nov 9, 2025, the multifamily market in Downtown Tempe continues to reflect a shift in dynamics amidst changing conditions.

• Inventory has shown a modest increase with 15 active listings, climbing from 10 three months ago.
• The average price per square foot for these active listings is currently $405, higher than the previous average of $354, indicating a trend of increasing market values.
• Although sold properties aren't currently available, the pending listings average $763,333, demonstrating ongoing buyer interest.

An In-Depth Look at the Downtown Tempe Multifamily Market

The multifamily market in Downtown Tempe, as of Nov 9, 2025, reveals a blend of expanding inventory and rising prices that may guide both buyers and sellers in their decision-making processes.

• Active Listings and Inventory: The active listings rose to 15, an increase from 10 three months ago, signaling a more favorable selection for buyers. This uptick in inventory can provide potential buyers with more options than previously available.

• Pricing Trends: Currently, the average price per square foot for active listings is $405, up notably from $354 three months ago. This increase may reflect greater demand or perhaps an adjustment in seller expectations towards higher prices.

• Pending Listings: The average pending price of $763,333 indicates that market interest remains robust, although the lack of recent sold properties suggests either a temporary pause in transaction completions or that more listings might soon become available.

• Days on Market (DOM): The current average DOM for active listings stands at 169 days, a significant increase from 250 days three months ago. This increase in days could imply that buyers are taking longer to make decisions or that properties are being priced higher and thus sitting longer on the market without going under contract.

• Conclusion: Overall, the multifamily market in Downtown Tempe appears to be steadily adapting to current demand and evolving buyer needs. With active listings rising and prices reflecting upward trends, both buyers and sellers should be equipped to navigate these changing circumstances effectively. For buyers, this may be an opportune moment to explore the current selection while remaining aware of rising price trends. Meanwhile, sellers could consider strategies that capitalize on market interest to optimize sales timelines and conditions.