Tempe, AZ 85283 Real Estate Market Report

ZIP Code: 85283
Report Date: May 2026
Market Temperature: NEUTRAL
Scope: This ZIP code analysis focuses on single-family residential (SFR) properties. Metrics are calculated from recent sales and active listings within the past 90 days.

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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

Note: The relationship between property values and rental rates reflects different market dynamics. Higher-priced properties may have lower rental yields due to factors such as luxury market positioning, owner-occupancy preferences, or long-term appreciation strategies rather than immediate rental income maximization.

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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 85283 area average 6.37%, reflecting the prevailing market environment for property owners in this region.

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 is $493,000, which serves as the primary indicator of market value and recent transaction activity; because the median listing price is $520,000, this gap suggests seller expectations exceed realized sale prices and may indicate pricing friction and incremental buyer negotiation power.

2. The market shows slower transaction velocity: median days on market is 213, which implies prolonged marketing periods and may indicate softer demand or increased time for sellers to secure contracts.

3. Price and rent pressure are both trending downward: price year-over-year trend is down and rent year-over-year trend is down; combined with interest rate pressure labeled moderate and current 30-year fixed mortgage rates averaging 6.37%, these factors may constrain near-term price appreciation and reduce urgency among buyers.

4. Market temperature is neutral, indicating a broadly balanced environment rather than a one-sided market; samples show elevated inventory relative to sales activity, which appears to support measured price adjustments and sustained negotiation leverage for buyers rather than rapid price acceleration. neutral

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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.

Tempe, AZ 85283 Real Estate Market Report

ZIP Code: 85283
Report Date: May 2026
Market Temperature: NEUTRAL
Scope: This ZIP code analysis focuses on condominium properties. Metrics are calculated from recent condo sales and active listings within the past 90 days.

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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 85283 area average 6.37%, reflecting the prevailing market environment for property owners in this region.

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. Median sold price $294,900 is the most reliable indicator of market value and recent transaction activity; with the market temperature described as neutral, this sold price suggests pricing is stabilizing rather than accelerating or collapsing.

2. There is a material gap between median listing price $269,950 and the representative recent sale price, which may indicate pricing friction where seller expectations and realized transaction prices diverge, and sellers may need to adjust to close deals.

3. Extended liquidity signal: median days on market 342 points to slower sales velocity and suggests a longer time horizon for transactions in this area; combined with the neutral market temperature, this appears to reflect measured buyer-seller negotiation rather than rapid turnover.

4. Macro and cost-of-capital context: current 30-year fixed mortgage rate 6.37% and moderate interest rate pressure are headwinds for affordability, while downward trends in both price and rent (price YoY trend: down; rent YoY trend: down) reinforce a cautious near-term outlook for upside.

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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.