Tempe Multifamily Market Overview
Tempe Multifamily Market Highlights
As of May 6, 2025, the multifamily market in Tempe displays notable shifts, reflecting changing conditions for buyers and sellers alike.
- Over the past month, the number of active listings has risen to 21, representing a robust increase compared to just 11 listings six months ago.
- The months of inventory currently sits at 10.5, suggesting a slower market where buyers have more options.
- Sold prices have recently averaged $740,000, which still reflects a more competitive landscape relative to previous periods.
- In contrast, the average days on market have declined to just 14 days, indicating a brisk pace of transactions.
Curious how the Tempe Multifamily market has changed over time?
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Tempe Multifamily Market Report
An In-Depth Look at the Tempe Multifamily Market
The multifamily market in Tempe, as of May 6, 2025, exhibits an evolving landscape where several key metrics reveal insightful trends over different timeframes.
Currently, the active listings have climbed to 21, up from 11 just six months ago, emphasizing a significant uptick in available inventory. This raises the months of inventory to 10.5, indicating that it would take about ten and a half months to sell all active listings at the recent sales pace. This level of inventory suggests a shift toward a more buyer-favorable environment as potential buyers now face a broader selection.
Additionally, the average sold price over the past month has reached $740,000, a notable rise from $588,333 a year ago, reflecting enduring buyer interest even amid increasing inventory. This demand may be attributed in part to ongoing economic developments and consistent migration patterns into the Tempe area.
Interestingly, the average days on market (DOM) for sold properties is now at just 14 days, showcasing a brisk market despite the rise in inventory levels. The promising turnover rates suggest that buyers should act promptly in this competitive environment, as properties are moving quickly even when total options increase.
In conclusion, as Tempe's multifamily market evolves, the data portrays a complex interplay of rising inventory levels alongside competitive pricing and swift sales, further underscoring the dynamic nature of the current landscape. Buyers should leverage the available inventory, while sellers may find opportunities for strategic pricing to attract serious offers.
Brian Adamski, Realtor
Guiding Home Buyers in Tempe for 18+ Years | Helping You Move Forward with Confidence
480-405-1265
