Tempe, AZ 85283 Real Estate Market Report

ZIP Code: 85283
Report Date: February 2026
Market Temperature: NEUTRAL
Scope: Single-Family Residential (SFR) listings and comps only

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Executive Overview

The median sold price in Tempe, AZ (ZIP: 85283) is currently $499,450, reflecting a market that has seen a slight decline in pricing trends. The neighborhood has decreased 8% since 2022, indicating a shift towards price normalization following prior appreciation. This adjustment suggests that buyers may find opportunities in the current market, as the gap between listing and sold prices may create favorable conditions for negotiations.

Transaction activity appears moderate, with 190 days on market indicating slower sales velocity. Elevated inventory levels suggest an excess supply relative to sales activity, which may lead to increased seller concessions. Despite these conditions, the local economy remains robust, driven by job growth, which supports underlying demand in the housing market. The rental market in Tempe shows strong demand, contrasting with broader trends in the Phoenix area, where rents are experiencing a downturn due to oversupply.

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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 in the Tempe AZ 85283 area average around 5.875% to 6.375%, which is notably lower than the 6.87% average seen just 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. $499,450 is the current median sold price, indicating a decrease of 8% since 2022.

2. The median days on market stands at 190 days, reflecting a slower sales velocity in the current market.

3. Elevated inventory levels suggest excess supply relative to sales activity, which may lead to increased seller concessions.

4. The median market rent is $2,630, indicating strong rental demand despite broader downward trends in the Phoenix area.

5. Current 30-year fixed mortgage rates range from 5.875% to 6.375%, which is lower than last year's average of 6.87%, potentially easing buyer pressure.

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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.