Tempe AZ Real Estate Housing Market Report - September 2021
Days on market increased for the third straight month, up to 28 DOM in September after recording an all-time low of 22 DOM in May and June.
The number of new listings slightly decreased from 158 in August to 153 in September, and they are -7.7% lower than in September of last year. The number of active listings has increased in five of the last seventh months, and increased from 188 last month to 211 in September. Active listings are still lower by -9.4% than in September of last year.
Even though active listings continue to increase, they still fall behind previous years listings. The lack of listings continues to drive demand and home prices higher, so if the number of listings continues to be less than in previous years, expect home values to continue to increase.
With that said, median home values in Tempe have increased an average of 23.2% since September of 2020. With interest rates remaining around 3.0%, there will still be more buyers looking to purchase for the remainder of 2021.
For more detailed stats on the Tempe Housing Market, just click on the image below. Then call/text me when you are ready to buy or sell your next home.
If you're thinking of selling, many buyers will be eager to find a home just like yours due to the low inventory of available homes for sale. Reach out to me today to make sure you can get your house in on the action.
If you're thinking of buying a home, more homes are being listed for sale, and interest rates remain at historically low rates. Being a trusted real estate professional, I can answer your questions and help you determine your next steps.