March 2016 Tempe AZ Real Estate Market Highlight:
- Active listing (Inventory) had Decreased 2.1% from February 2016
- Average Sold Price for Single Family Home in Tempe was $294,161 that was 8.1% Increased from February
- Median Sold Price in March 2016 was $274,900 and had Increased 13.6% from February
- 98% of Single Family Detached Homes sold in March 2016 are Traditional Sale
- Most expensive home sold in 2016 March in Tempe AZ was sold for $881,000 Click here to view
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Here are Tempe AZ Real Estate Single Family Detached Home statistics for March 2016. Be sure to Contact Us, if you have any questions about this report or about how the market is performing. This report includes MLS data for the past 12 months for Tempe AZ provided by the FlexMLS system.
March 2016 Tempe AZ Closed Sales Report Analysis
We saw a 33.3% increase in the number of closed sales in March 2016 compared to the prior month. The statistics show that we had 120 residential Single Family Detached Homes sold in March 2016 in Tempe AZ compared to 90 in February. This compares to 104 closed sales in March of last year.
Based on statistic data, March 2016 Days on Market (DOM) is 63 compare to 70 in February. It take about 63 days to get your Tempe AZ home sold in March 2016.
Tempe AZ March 2016 Average Sold Price Analysis
Average Sold Price for Single Family Detached Homes in March 2016 was $294,161. This Average Sold Price has increased 8.1% from February. Compare to March 2015 Average Sold Price $281,560, that was about 4.5% appreciation from a year ago.
The average sold price per sq/ft in March 2016 was $154 per sq/ft. This compare to $149 per sq/ft in February and $139 per sq/ft from a year ago.
March 2016 Tempe AZ Median Sold Price Analysis
March 2016 Median Sold Price for Single Family Detached Homes in Tempe AZ was $274,900. This median sold price is about increased 13.6% from February. Compare to March 2015 Median Sold Price $243,500, that about 12.9% appreciation from a year ago.
As a reminder, you need to meet with a real estate professional to see how statistics impact the area where you are considering selling or buying. Blended statistics will not be as accurate as a more detailed report we can provide to help you with your decision making.
Selling Your Home in Tempe AZ
Contact Us or call Swee Ng, Tempe Real Estate Agent at 480.721.6253 today to discuss your potential Tempe AZ Home Price and our comprehensive marketing plan. We will prepare complimentary competitive market analysis (CMA) to find out what your Home is worth at todays market.
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Swee Ng, Realtor specializing in win-win real estate transaction through great communication and fighting for his clients’ best interest. After all, this is more than real estates, this is about your life and your dreams.
If you are looking to buy or sell your home in Tempe AZ area, I would like the opportunity to be interviewed for the job. Contact Us today for complimentary and no obligation consultation.