Tempe The Lakes Condos

The Lakes Condos Market Highlights

As of Nov 9, 2025, the condos/townhomes/patio homes market in The Lakes has showcased a mix of trends, primarily reflected in the fluctuations of active listings and days on market.

• Currently, there are 10 active listings, marking an increase from 7 listings three months ago.
• The average price for these active listings has decreased to $454,190, down from $461,843 last quarter.
• Average days on market (DOM) have risen to 96 days, indicating a shift towards longer selling times.

An In-Depth Look at the The Lakes Condos Market

The current market analysis reveals several noteworthy trends impacting buyers and sellers in The Lakes.

• As of now, the 10 active listings present a notable increase from 7 three months ago, showcasing rising options for prospective buyers.
• Despite the increase in inventory, the average asking price for active listings has seen a decline to $454,190, a slight dip from $461,843 observed just three months prior. This suggests that sellers may be adjusting their pricing strategies to attract buyers amid increased competition.
• An extended average DOM of 96 days, compared to just 59 days three months ago, signifies a gradual slowdown in market activity, pointing towards a trend where properties are taking longer to sell.
• Additionally, the months of inventory have climbed to 10.0, reflecting a market that appears more balanced, though leaning slightly towards buyer favorability given the elevated inventory levels.
• It’s essential to highlight that historical data indicates this is a stark rise from just 2 active listings six months ago, wherein the average prices stood significantly higher at $529,000. This may indicate a market adjustment or price stabilization aiming to spur sales in what has become a competitive landscape.
• The decrease in average price is also vivid when compared to past sales metrics. Six months ago, while the sold properties averaged a price of $215,000, a notable difference signals that prices have not maintained momentum as they had previously.
• Sellers may need to consider flexible pricing strategies moving forward, particularly with the current demand showing signs of cooling. Buyers, on the other hand, can capitalize on the increased inventory and longer DOM by leveraging negotiations for favorable terms.

Overall, the market trends in The Lakes indicate a shift towards a more balanced state, where strategic pricing, careful timing, and proactive negotiation may be essential for both buyers and sellers navigating the current landscape.