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Market Conditions in 85281 : Real Estate Advice

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Mon Jun 29, 2015
Tobi Hawley answered:
6/29- I just ran the comps for "Papago Manor" in Tempe, AZ and I found since January and the "Average" sale price is $135 per square foot (SF) with an "Average" of 59 days on the market. There is only 1 Active listing on the market in there right now on 432 E Taylor @ $283,999, its 1756 SF and $161 SF. There are 2 smaller units in "Pending" status at $160 and $170 SF. This indicates a trend upwards in your subdivision. There is a supply & demand issue in Tempe right now, kids are going back to ASU in August and sales are good right now. The inventory is low in your area creating a demand. This price point is also affordable and there are great mortgage programs out there. With interest rates rising its a good time to buy and many are taking advantage of that before rates increase. It is also a good time to sell since the overall range of sales in "Papago Manor" is $102-175 SF, with active & pending listings in the higher end of this range. If you want to buy or sell do talk to me!... I guess you can tell I was a former appraiser, this is my specialty and Tempe is my area, contact me & I'm glad to help! ... more
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