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Featured local agent — Tempe, AZ
Sarah Mitchell
Compass Real Estate · Tempe, AZ
“Your trusted relocation specialist since 2009. 350+ homes sold. Zero-pressure, data-first approach.”
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Tempe, AZ Housing Market & Real Estate
Housing market overview · Updated monthly ·
$483,000median sale price
How is the Tempe, AZ housing market right now?
The median home sale price in Tempe, AZ is $483,000, down 10.9% year-over-year. Homes sell in an average of 54 days with 466 active listings. The market is currently a balanced market. (Source: Redfin monthly MLS data, as of May 2026 — the most recent Redfin release; Redfin publishes each month's data on a ~6-week lag.)
Is Tempe a buyer's or seller's market?
Tempe, AZ is currently a balanced market, based on 3.4 months of supply and homes selling in about 54 days. How we determine this →
Homes sold
138
Last 12 weeks
Days on market
54
Average pace
Active listings
466
3.4 months supply
Sale-to-list
97.2%
Below asking
What does the Tempe housing market data show?
| Metric | Value |
|---|---|
| Median sale price | $483,000 |
| Median list price | $489,000 |
| Year-over-year price change | -10.9% |
| Average days on market | 54 days |
| Active inventory | 466 listings |
| Months of supply | 3.4 months |
| Sale-to-list price ratio | 97.2% |
| Median price per sq ft | $288/sq ft |
| Homes sold (latest month) | 138 |
| New listings (latest month) | 167 |
| Listings with a price cut | 34.3% |
| Market condition | Balanced market |
Source: Redfin · Updated monthly
How much do homes cost in Tempe by property type?
How the Tempe, AZ market breaks down across single-family homes, condos, and townhouses.
| Property type | Median price | Price / sq ft | Homes sold | Days on market |
|---|---|---|---|---|
| Single-family | $547,500 | $302/sq ft | 98 | 46 days |
| Condo / Co-op | $307,000 | $279/sq ft | 10 | 75 days |
| Townhouse | $313,000 | $269/sq ft | 28 | 112 days |
Source: Redfin · Updated monthly
The Tempe housing market is currently classified as a balanced market with a median sale price of $483,000. Prices have fallen 10.9% compared to last year, with homes spending an average of 54 days on market, indicating 3.4 months of inventory.With limited inventory, homes sell quickly and buyers should be prepared to act decisively and competitively to secure a property.The price-to-income ratio of 6.0x provides context for how home values compare to local earning capacity.
Homes for sale in Tempe
There are currently 466 homes listed for sale in Tempe, Arizona. The median listing price is $489K.
Active listings
466
Homes on market
Median list price
$489K
Avg. days on market
54
Days until sale
New this week
167
Newly listed
Who lives in Tempe?
Population
186,419
Median income
$77,643/yr
Median age
29.9 years
Owner-occupied
41.6%
College grads
49.5%
Avg commute
21.4 min
Source: U.S. Census Bureau ACS
What are homes worth in Tempe?
Zillow home value
$467,863
Zillow rent index
$1,667/mo
Price-to-rent ratio
23.4x
Price-to-income
6.0x
Source: Zillow Research
What is it like to live in Tempe?
Tempe is a community of approximately 186K residents with a median age of 29.9 years.The median household income is $77,643, which reflects a relatively affluent area with strong earning potential. 49.5% of residents hold a bachelor's degree or higher, indicating a highly educated population.
Homeownership rates are at 41.6%, showing a blend of owner and renter-occupied properties. The average commute time is 21.4 minutes, which makes this an excellent choice for those seeking short commutes to employment centers.Overall, Tempe offers a balanced lifestyle with accessible home values relative to local income levels.
Which public schools serve Tempe?
50 schools tracked · 27,068 students
The largest public schools serving Tempe, AZ by enrollment, drawn from the National Center for Education Statistics. School quality is a commonly cited factor in home-buying decisions — these are the campuses families in this area are most likely to encounter.
ASU Preparatory Academy Digital
Grades K-12 · 3,563 students
Corona Del Sol High School
Grades 9-12 · 2,668 students
Student Choice High School
Grades 9-12 · 1,781 students
Mcclintock High School
Grades 9-12 · 1,757 students
Tempe High School
Grades 9-12 · 1,485 students
Marcos De Niza High School
Grades 9-12 · 1,458 students
Connolly Middle School
Grades 6-8 · 915 students
Kyrene Middle School
Grades 5-8 · 725 students
Source: National Center for Education Statistics, Common Core of Data directory. Updated annually. Ratings and test scores are not currently displayed.
Which cities are near Tempe, AZ?
Want a head-to-head view? Compare Tempe side-by-side with any other U.S. city using our market-comparison tool.
Is Tempe a good real estate investment market?
For investors evaluating Tempe, the price-to-rent ratio of 23.4x indicates higher purchase prices relative to rental income, typical of appreciation-focused markets. The market has softened 10.9% year-over-year, potentially creating entry opportunities for strategic buyers.Use our rent vs. buy calculator to analyze whether owning or renting makes more financial sense based on Tempe's current market conditions and your specific situation. Estimate your monthly payment with the mortgage calculator using Tempe's median home price.
Frequently asked questions
What is the average home price in Tempe?
The median home sale price in Tempe is $483,000, down 10.9% from last year.
How long do homes stay on market in Tempe?
Homes typically spend 54 days on market before going under contract.
What is the median income in Tempe?
The median household income is $77,643 per year.
Is Tempe a buyer's or seller's market?
With 3.4 months of supply, Tempe is currently a balanced market.
What is the Zillow home value estimate for Tempe?
The Zillow Home Value Index (ZHVI) for Tempe is $467,863, representing the typical home value in the area.
What is the median condo price in Tempe?
The median condo/co-op sale price in Tempe, AZ is $307,000, compared to $547,500 for a single-family home, based on the latest Redfin data.
How much does a single-family home cost in Tempe?
The median single-family home price in Tempe, AZ is $547,500 (about $302 per square foot).
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