Tempe AZ Real Estate Housing Market Report - May 2021
By Troy Erickson AZ Realtor (602) 295-6807, Your Chandler, Ahwatukee, and East Valley Realtor
(HomeSmart)
Here is the most recent Tempe AZ Real Estate Housing Market Report for May 2021: The average sales price of homes in Tempe had increased over $90,000 in March and April, so it was bound to drop a little in May. May saw a drop in the average sales price in Tempe, down over $23,000 to $504,967. At the same time, the average sold price per square foot increased for the fourth straight month from $258/sf to $264/sf. Days on market went down in May to a new all-time low of 22 DOM after increasing in April. Tempe home sales slightly decreased in May from 131 to 125, the first decrease in the last five months. Even though they decreased, Tempe home sales are still 34.4% higher than last May. This is mainly due to the COVID-19 pandemic shutting down the economy last March. Up until May, it l...
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