Tempe, AZ 85281 Real Estate Market Report

ZIP Code: 85281
Report Date: March 2026
Market Temperature: NEUTRAL
Scope: Single-Family Residential (SFR) listings and comps only

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Executive Overview

The housing market in Tempe, AZ (ZIP: 85281) is currently characterized by a median sold price of $445,000, reflecting a stable market despite mixed signals in the broader metro area. The neighborhood has shown signs of modest appreciation, with the market temperature trending toward balanced conditions. This balance is evidenced by a median days on market of 358, indicating a slower sales velocity and increased buyer negotiation power.

While the median listing price stands at $482,450, the significant gap between listing and sold prices suggests potential pricing friction, as sellers may need to adjust expectations to align with buyer sentiment. Furthermore, the rental market is experiencing a median market rent of $2,630, which has seen a year-over-year decline, yet demand remains strong, indicating a complex interplay between rental and sales markets.

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Market Overview

This analysis is based on a sample of properties from this ZIP code (up to 200 sold properties and up to 100 active properties). The median prices below are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

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Market Metrics

Note: The property counts shown above represent only the properties analyzed in this report sample, not the total inventory for this ZIP code. Median prices are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

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Rental Market

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Property Taxes

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Liquidity & Velocity

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Market Trends & Context

Understanding Market Temperature

A Neutral market indicates balanced conditions where neither buyers nor sellers have a strong advantage, typically characterized by flat price trends, extended but stable days on market, and moderate inventory relative to sales.

Current Mortgage Rate Context

Market-level mortgage rate comparison for this area:

Current 30-year fixed mortgage rates near 6.00% for property owners in the Tempe AZ 85281 market are 11.24% lower than the 6.76% average from one year ago.

Note: Interest rate comparisons provide market context. The existing "Interest Rate Pressure" metric above shows the qualitative market impact.

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Key Findings

1. The median sold price of $445,000 indicates a stable market despite external pressures.

2. With a median days on market of 358, the market is experiencing slower sales velocity and increased buyer negotiation power.

3. The median listing price of $482,450 suggests pricing friction as sellers may need to adjust expectations to meet market realities.

4. The median market rent is $2,630, reflecting a year-over-year decline, yet underlying rental demand remains strong.

5. Current interest rate pressure is elevated, impacting buyer affordability and overall market dynamics.

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Notable Properties

The following 8 properties represent notable market examples and recent transactions that illustrate key market dynamics. These are illustrative examples selected for their significance (top sales, market benchmarks, quick sales) and are not the basis for the statistical calculations shown above.