TEMPE, AZ  MARKET

August 2021

This week the median list price for Tempe, AZ is $512,500 with the market action index hovering around 83. This is less than last month’s market action index of 86. Inventory has increased to 94.

The market has been cooling over time and prices have recently flattened. Despite the consistent decrease in Market Action Index (MAI), we’re in a Seller’s Market (where significant demand leaves little inventory available). If the MAI begins to climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.

WHAT YOU NEED TO KNOW

From the beginning water has always been a dire need throughout the valley- so the completion of Roosevelt Dam in 1911 guaranteed enough water to meet the growing needs of Valley farmers. On his way to dedicate the dam, former President Theodore Roosevelt applauded the accomplishments of the people of central Arizona and predicted that their towns would be prosperous cities in the future. Less than a year later, Arizona was admitted as the 48th state, and the Salt River Valley continued to develop. Now, Tempe is a thriving city, and the largest portion of Tempe’s population work in healthcare and social services & Tech which is easy with an increasing number of biotech and healthcare companies:: Beckton Dickinson, Cranial Technologies, Cigna Healthcare of Arizona, Tempe St. Luke’s Hospital, Sonora Quest Laboratories, Express Scripts, Medtronic, ASU Biodesign Institute, Reproductive Medical Institute.

With a projected growth of 49.9% in the Tempe job market over the next ten years there are employment opportunities abound in varied fields such as education, business services, finance to name a few. Tempe commits to these priorities: safe & secure communities, strong community connections, quality of life, sustainable growth & development, and financial stability & vitality. Come be a part of t his thriving city!

WHY CHOOSE TEMPE?