Tempe Housing Market Report March 2025•Maricopa County, Arizona

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Housing Prices in Tempe, AZ

How much do homes in Tempe, AZ cost?

Housing Market Conditions

Is Tempe, AZ a buyer’s or seller’s market?

Housing Market Conditions

This is the supply and demand for houses in an area based on home prices and trends.

Buyer’s Market

A buyer’s market occurs when the number of available properties for sale exceeds the number of buyers looking to purchase. In a buyer’s market, the supply exceeds the demand.

Neutral Market

A neutral market occurs when the number of buyers looking to purchase properties meets the number of available properties for sale. In a balanced market, there are enough homes to meet the demand.

Seller’s Market

A seller’s market occurs when there are more buyers looking to purchase properties than there are available homes on the market. In a seller’s market, the demand exceeds the supply.

Seller'sMarket

Buyer'sMarket

Tempe is a Neutral Market

Difference Since March 2024

At the same time last year, Tempe was a Seller's Market.

Insight

Tempe is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

Median Sold Price

Median Sold Price
This is the middle price for which all homes in the area were sold. Half of all the homes sold were below this price, and half were above.
$485,933$304/SqFt
+$21,017
+4.5%

Based on all homes sold in the last 12 months

Insight

Homes in Tempe have sold for 4.5% more than they did a year ago.

Summary: The median home sold price in Tempe was $485,933 in March 2025, up 4.5% from last year, and the median price per square foot was $304.

Median Sold Price By Cities

Median Sold Price By Cities
This is the middle price for which all homes in the area were sold compared to surrounding cities. Half of all the homes sold were below this price, and half were above.
CityChange YoY
Tempe
+4.5%
Chandler
+2.3%
Mesa
+1.0%

Median Sold Price By Bedrooms

Median Sold Price By Bedrooms
This is the middle price for all homes actively listed in an area broken out by the number of bedrooms. Half of the homes are listed below this price, and half are above.
BedsMar 2024Mar 2025Change YoY
1$250K$237K
-5.2%
2$340K$329.6K
-3.0%
3$460.1K$474.9K
+3.2%
4$552.5K$594.6K
+7.6%
5$705K$750K
+6.4%

Summary: Tempe housing price by bedroom type for March 2025, compared to the previous year. The home price for 1 bedroom homes decreased by -5.2%. The home price for 2 bedroom homes decreased by -3.0%. The home price for 3 bedroom homes increased by +3.2%. The home price for 4 bedroom homes increased by +7.6%. The home price for 5 bedroom homes increased by +6.4%.

How does Tempe, AZ compare with other places?

Market comparison tool

Data and numbers shown are subject to change and may vary based on different timeframes.

Tempe, AZ

Housing supply in Tempe, AZ

How many homes are available in Tempe, AZ?

Number of Homes For Sale

Number of Homes For Sale
This is the total number of homes actively listed in an area.
Last Month2 months agoChange MoM
562Last MonthMar 2025
5062 months agoFeb 2025
+11.1 %
Change MoMFeb – Mar

Summary: The Tempe real estate market had 562 homes for sale in Mar 2025, a 11.1 % increase compared to Feb 2025.

Number of Homes Sold

Number of Homes Sold
This is the total number of both homes sold and pending in an area.
Last Month2 months agoChange MoM
94Last MonthMar 2025
1072 months agoFeb 2025
-12.1 %
Change MoMFeb – Mar

Homes For Sale By Bedroom Count

Homes For Sale By Bedroom Count
This is the total number of homes actively listed in an area by number of bedrooms.
BedsFeb 2025Mar 2025Change MoM
11724
+41.2%
2130134
+3.1%
3180211
+17.2%
4137153
+11.7%
54240
-4.8%

Summary: Tempe housing inventory by bedroom type for March 2025, compared to the previous month. The inventory for 1 bedroom homes increased by +41.2%. The inventory for 2 bedroom homes increased by +3.1%. The inventory for 3 bedroom homes increased by +17.2%. The inventory for 4 bedroom homes increased by +11.7%. The inventory for 5 bedroom homes decreased by -4.8%.

Asking Price vs. Sold Price

How much do homes in Tempe, AZ cost?

Asking Price vs. Sold Price

The asking price is how much a home is listed for. The selling price is how much the home actually sold for.

Under Asking

Homes that sold for less than the asking price

At Asking

Homes that sold at their asking price

Over Asking

Homes that sold above the asking price

Over Asking Price10 Homes

At Asking Price24 Homes

Under Asking Price60 Homes

Insight

If you're buying a home in Tempe, you may be able to get a good deal. 63.8% of homes here sold below asking price last month.

Summary: A total of 94 homes were sold or pending in Tempe in March 2025, down by 12.1% month-over-month. Of the 94 sold homes, 64% were sold under asking, 26% were sold at asking, and and 11% were sold over asking.

Days on Market for Tempe, AZ

How long does it take to sell a home in Tempe, AZ?

Breakdown of Home Sale Times

Under 30 Days38 Homes

30 – 90 Days35 Homes

Over 90 Days21 Homes

Insight

Many homes in Tempe are selling fast, if you're buying plan to act quickly.

Summary: During March 2025, 94 homes were sold in Tempe; 40% of homes were sold within 30 days, 37% of homes were sold within 30 to 90 days, and 22% of homes were sold over 90 days.

Average Sale Time

Average Sale Time
This is the average number of days homes take to sell in an area.
This Year1 year agoChange YoY
56 DaysThis YearMar 2025
51 Days1 year agoMar 2024
+9.6 %
Change YoYMar 2024 – Mar 2025

Summary: Homes in Tempe had an average listing age of 56 days in Mar 2025, up by 9.6% compared to the previous year.

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Newest Listings in Tempe, AZ

What homes are available in Tempe, AZ?

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Nearby markets

Popular Cities with Homes for Sale in Arizona

MLS Disclaimers and Copyright

Based on information from Arizona Regional MLS, for the period 04/01/2023 - 04/01/2025

IDX The data relating to real estate for sale on this site comes from the Broker Reciprocity/IDX of Arizona Regional Multiple Listing Service, Inc. Indicates a property listed by a real estate brokerage other than Rocket Homes Real Estate, LLC. All information should be verified by the recipient and none is guaranteed as accurate by ARMLS. No warranties, expressed or implied, are provided for the data herein, or for their use or interpretation by the user. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Arizona Regional Multiple Listing Service, Inc. do not create, control or review the property data displayed herein and take no responsibility for the content of such records. Federal law prohibits discrimination on the basis of race, color, religion, sex, handicap, familial status or national origin in the sale, rental or financing of housing. Information deemed reliable but not guaranteed. Copyright© 2025 Arizona Regional Multiple Listing Service, Inc. All Rights Reserved.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 4/9/2025, 3:20:57 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.