Wow Tempe is Booming! Prices up $90,000 – $100,000 Homes & Condos in 8 Months See where your money will grow! | Tempe Realty Co.

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Below you will find the Average & Median Home and Condo Prices in Tempe, AZ along with the most expensive sale, least expensive sale, and days on market.

85281

Homes 1st Quarter 2nd Quarter 3rd Quarter
Average Prices $131,559 $153,980 $178,601
Median Prices $120,000 $145,000 $149,000
High $930,000 $330,000 $441,000
Low $48,000 $58,150 $67,000
Days on Market 99 54 56
Condos 1st Quarter 2nd Quarter 3rd Quarter
Average Prices $200,557 $163,462 $158,808
Median Prices $115,000 $136,000 $125,000
High $1,900,000 $750,000 $600,000
Low $26,000 $29,900 $47,000
Days on Market 104 86 100

Zip code 85281 is so diverse because you have all types of properties from traditional single family homes, old historic luxury homes, lofts, high rise, penthouse condos, condo conversions, apartment type units, multi family, and commercial.  This area is driven by ASU and Mill Ave Urban living.

–          Zip code 85281 saw a $47,000 price increase on average single family home prices and $29,000 Median price increase from January 2012 – September 2012 that is around 30% increase in price jump in less than a year.

–          The condo market did not do as well but still saw some increase.  The most expensive condo was sold at the start at the year at 1.9 Million so the numbers during 1st quarter compared to the 3rd quarter will be deceiving.  The number to focus on is the median home price witch increased $10,000 from the start of the year to September 2012.

Read – New York meets Tempe Urban Living on Mill Avenue – Tempe Penthouse High-High Rise Condos!

Villagio at Tempe Prices Up $90,000 in 10 Months | Tempe Realty Co

85282

Homes 1st Quarter 2nd Quarter 3rd Quarter
Average Prices $154,409 $165,263 $173,198
Median Prices $154,450 $160,500 $162,000
High $396,500 $370,000 $58,000
Low $40,000 $25,000 $420,000
Days on Market 60/45 73/28 55/22
Condos 1st Quarter 2nd Quarter 3rd Quarter
Average Prices $78,328 $87,193 $95,791
Median Prices $73,900 $85,000 $92,000
High $174,000 $135,852 $192,900
Low $39,000 $49,000 $45,000
Days on Market 76/44 47/14 37/23

–          Zip code 85282 saw a normal jump of around $19,000 and $7,600 so this market seems to be increasing in a normal direction. This zip did show the least amount of price increase in Tempe but there is some hidden jems (Pockets) that will easily fetch close to 500K (Tempe Royal Palms, McClintock Manor, Santo Tomas, and more).

–          The condo market similar to the housing market had a normal increase in prices around $17,500 and $18,000.  Well ok that’s not a normal market but I feel this market will hover around the 90-110 price range for a while.

85283

Homes 1st Quarter 2nd Quarter 3rd Quarter
Average Prices $159,428 $180,339 $199,565
Median Prices $137,250 $158,750 $175,000
High $625,000 $790,000 $805,000
Low $33,900 $52,300 $67,000
Days on Market 85/47 49/25 54/27
Condos 1st Quarter 2nd Quarter 3rd Quarter
Average Prices $92,354 $91,980 $113,401
Median Prices $79,000 $85,000 $101,250
High $240,000 $245,900 $255,250
Low $45,000 $45,000 $48,000
Days on Market 87/39 48/32 53/26

The 85283 zip code is a little different because it has all types of properties from traditional single family 3beds/2baths to Luxury Homes so you will see Median home prices around 200k but will also notice that homes are selling well over 600-800K in this exact zip.

–          There was a $40,100 and $38,000 price increase from January – September 2012 for the single family market and $21,000/$22,250 respectively for the condo market.

85284

Homes 1st Quarter 2nd Quarter 3rd Quarter
Average Prices $299,888 $353,916 $385,838
Median Prices $256,000 $322,000 $318,250
High $900,000 $1,195,000 $1,250,000
Low $110,000 $140,000 $160,100
Days on Market 94/51 62/28 51/27
Condos 1st Quarter 2nd Quarter 3rd Quarter
Average Prices $160,043 $184,050 $181,125
Median Prices $150,000 $170,000 $174,750
High $208,000 $230,000 $245,000
Low $126,500 $170,000 $130,000
Days on Market 58/57 90/89 96/56

This zip code is known as the Premier Luxury Home zip in Tempe.  You will find luxury custom built homes in gated communities, horse properties, and beautiful Tempe homes.  What make this area stand out are the school district and the fact that this is where you will find old and new Tempe combined.  The homes are much larger situated on larger lots and close to everything in the valley of the sun.

–          This zip recorded close to $90,000 and $63,000 price increases from January – September 2012. Some of the highest sales are 900, 1.1, and 1.25 Million.  Like most luxury home markets in the valley for the most part they are seeing price increases from the start of the year.  Tempe is no exception!

I will update this by the end of the year.  Please come back or fallow this blog, like us on facebook for discounts and real estate info, and do not hesitate to call your local Tempe Realtor to speak about buying or selling a Tempe home, condo, penthouse, high-rise, or loft.

TempeHomesCondos.Com

480.458.8007

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