Archive for the 'Tempe Real Estate' Category
Tempe Real Estate-Hyperlocal Market Statistics
October 27th, 2008 categories: Market Statistics, Real Estate News, Selling a Home, Tempe Real Estate
I am preparing for a listing appointment for some past clients that will be relocating. So I decided to look at statistics for their Tempe zip code- 85283, so I thought I would share my findings.
I prepared Tempe Market Statistics for 2008. Here is a map of listings in the 85283 area.
Tempe Real Estate- Average Sales Price 2008- Zip Code 85283
There was a significant drop in average sales price in Aug and Sept. However, if you look at the next graph shows Sales price/Sqft. the change is not as dramatic. I also noticed that the average square footage of homes sold in Aug and Sept were about 250 sqft smaller than prior months.
This may reflect the current economic conditions. It is harder to obtain financing for the larger more expensive homes and the down payment requirements have increased. The clients that I have been working with for the last couple of months are those in the FHA lending limits only requiring 3.5% down- a great program for many buyers.
Tempe Real Estate- Average Price/SQFT-Zip Code 85283-2008
This chart does show a decline since July 2008. All areas in the Phoenix area have been effected by the foreclosure market, Tempe a well established area of Phoenix has not been hit as hard as some of the outer lying areas such as Queen Creek or Maricopa.
The last 2 charts show trends of Sold Listings and Average Days on Market. In any market, if you want to sell a house- you MUST price it to sell- in the current market, Tempe home sellers are competing with short sales and bank foreclosures, offered at significantly discounted prices. So your home must show like a model and be priced to sell!!
If you would like "hyper-local" market statistics for your home- feel free to email or call me-480-216-4849.
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Tempe Real Estate-Market Statistics Single Family Homes Aug 2008
September 15th, 2008 categories: Market Statistics, Tempe Real Estate
Here are the numbers for single family homes in Tempe Real Estate for the month of Aug 2008.
Active Listings: 512
New Listings: 137
Pending Sales: 81
Sold Homes: 80
The average sales price for Tempe homes was $252,502 for the month of Aug.
There was an increase in listings and the sales and pending Tempe homes for sale remained flat. The current inventory of homes for sale in Tempe is 6.4 months.
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