Tempe AZ Market Report July 2012

Tempe, AZ Market Report July 2012

As a Realtor living and working in the Phoenix Metro Area I am often asked what

parts of the Valley are selling well? All real estate markets are local. Local meaning specific neighborhoods, subdivisions or zip codes and most often that is the market data that I supply to my clients. However, sometimes it’s beneficial to look at larger areas to identify trends that might not be so easily found in smaller samples. In this Market Report we’re looking at Tempe, AZ .

Tempe AZ Market Report

Total Active listings are up 7.5% over the past 30 days.

Lender Owned (REO) and Short Sales (SS) make up less than 21% of Total Active Listings.

Lender Owned (REO) prices are unchanged month over month. Lender owned properties are drying up in the Tempe Market and those that are available are receiving multiple cash contracts driving prices up.

Unlike other parts of the valley Tempe Short Sale prices are down 12% month over month. Even though Short Sales are still a challenge to close they are becoming an endangered species much like Lender Owned (REO) properties.

Normal Sale prices are unchanged month over month and up 7% over the past 90 days.

Appreciation for Tempe June 2011 vs. June 2012 is 15.3%

What does this mean for buyers and sellers in Tempe, AZ :

– If you are thinking of buying a home in Tempe over the next two to three years, don’t wait, prices will continue to rise. Buy now.

– If you are thinking of selling your Tempe, AZ home in 2012 list it now, competition is at an all-time low and prices may level during the summer months and as we approach the election in November.

– If you are considering moving from a smaller to a larger home there has never been a better time to do so. Smaller homes are selling quickly and in many cases above list price while there are still some great bargains available in homes larger than 3000 sq.ft.

Work with a REALTOR who truly understands the Tempe, AZ Market E-mail Nancy@NancyLaswick.com or call (602) 793-1627.

Whether you are buying or selling a home in Tempe, AZ I offer a free customized market report. As an

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informed buyer or seller you’ll make better decisions.

All content in this post is protected by copyright. © Nancy Laswick 2012. All Rights Reserved.

Please Note:All statistics and figures are reported from the Arizona Regional Multiple Listing Service (ARMLS) and/or The Cromford Report and are deemed to be reliable, but cannot be guaranteed for accuracy. It is recommended that any information of special interest be verified through independent sources.