Tempe Multifamily

Tempe Multifamily Market Highlights

As of Jul 10, 2025, the multifamily market in Tempe is experiencing notable shifts that are impacting both buyers and sellers.

• The total number of active listings has climbed to 18, up from 15 three months ago, indicating a recent increase in available inventory.
• Currently, residential multifamily units are averaging a Days on Market (DOM) of 204 days, which is slightly improved compared to 218 days three months ago.
• The average price per square foot for active listings is $413, a decrease from $418 three months ago.
• As there have been no sales recently, understanding the trends in pricing and days on market provides valuable insights into seller pricing strategies moving forward.

An In-Depth Look at the Tempe Multifamily Market

Currently, the multifamily market in Tempe is evolving in significant ways that affect both prospective buyers and existing homeowners.

• The number of active listings has risen to 18, a modest increase from 15 three months prior. This rise suggests a greater variety of options for buyers, possibly alleviating some of the previous tightness in the market.
• In terms of DOM, properties are now listed for an average of 204 days, reflecting a slight improvement compared to the 218 days noted three months ago. This change suggests that homes are selling slightly faster, which could point to a shift in buyer interest or improved pricing strategies among sellers.
• However, the price per square foot for these active listings has declined slightly to $413, down from $418 three months ago. While this price dip might indicate a slowing demand, it also presents an opportunity for buyers seeking affordability in a historically competitive market.
• Notably, there have been no sold listings for the current period, which is critical to understanding market dynamics fully. The absence of recent sales could reflect seasonal purchasing patterns or an overall cautious approach from buyers amid fluctuating prices.

When comparing these metrics against previous periods, the market shows some intriguing trends. For instance, one year ago, the number of active listings was considerably lower at just 5, showcasing an increase in inventory available to buyers.

• The average price for active listings has also witnessed pronounced changes, moving from $832,998 twelve months prior to the current average of $1,223,716. This notable increase highlights the upward trajectory of property values, although at a rate that buyers are beginning to push back against, as indicated by rising days on market and falling price per square foot.

In conclusion, the current multifamily market in Tempe is experiencing a blend of increased inventory with a slight easing of pricing pressure, combined with longer selling times. This scenario allows buyers to navigate a more favorable environment while offering sellers valuable insights into pricing strategy to capitalize on their investment.