Tempe, the home of Arizona State University is a college town. It is flanked by the Salt River and Tempe Town Lake to the north, Mesa to the east, phoenix to the west and Chandler to the south. Downtown Tempe has many amenities, including great shopping and restaurants, a close proximity to Tempe Town Lake and it’s beach, boating, park areas. Stroll around Mill Avenue and downtown Tempe. Enjoy the shopping, food, entertainment and libations. The Tempe Festival of the Arts is a nationally acclaimed event that happens each spring and fall in downtown Tempe. Arts, crafts, entertainment, food--the works!
It’s just a short walk to the ASU campus featuring the Sun Devil Stadium and ASU football , Wells Fargo Arena for basketball and Gammage Auditorium to see concerts and the latest Broadway shows. More than 60,000 students from the United States and 120 countries attend the University. There are many condo and apartment complexes in the area for student housing.
Tempe has a very diverse economic base, with a high concentration of technology-related companies. Along with ASU, there are other major employers include Motorola, Honeywell, Intel, Chase Bank Card Services, and Salt River Project, USAirways and Southwest Airlines.
The public school system is top-rated with both the Kyrene and Tempe Union school districts. Students excel in both the public, charter and private schools. Tempe features a state-of-the-art library, which is located on the corner of Rural and Southern in the center of the city.
If shopping is your thing, and you enjoy discounts, try Arizona Mills, which is just off I-10 and Baseline Roads or the Tempe Marketplace on Rio Salado and the 101 freeway. At AZ Mills, there are 175 stores, Harkins Luxury 24 Cinemas, IMAX Theatre, Game Works for the kids and many restaurants. It's loud and busy!
Visit the Tempe History Museum and learn about the development of Tempe through history, or stop by the ASU Art Museum. Both are free. Go to a Spring Training baseball game at Tempe Diablo Stadium. Visit the Sea Life Arizona aquarium. It is located at Arizona Mills Mall, and it is all indoors and air-conditioned.
Beat the summer heat at Big Surf. It's a water park with swimming, water slides, and fun for people of all ages; it is open during the summer months. Explore Kiwanis Park. It's a wonderful park with a recreation center that includes volleyball, tennis, racquetball, baseball and softball batting cages and an indoor wave pool with a water slide!
Take a short and not too difficult hike up Tempe Butte, otherwise known as "A" Mountain. It's behind the Tempe Mission Palms Hotel. See dance, music, children's theatre, stage productions and art at the Tempe Center for the Arts.
Play Golf at Ken McDonald Golf Course, a par 72 municipal course, or Rolling Hills Golf Course, with two executive nines. These courses are bargains, and even cheaper if you are a Tempe resident. The junior golf passes are fantastic if you've got kids that are working on their golf skills.
There is so much to do and see in this University town. No wonder over 250,000 people call it home.
Tempe, AZ – Real Estate Market Data – November 2012
Click here for full report – Tempe Market Data
To search for real estate in Tempe, go to www.AZmoves.com – Tempe
Property Sales
November Property sales were 161, up 11.0% from 145 in November of 2011 and 14.2% higher than the 141 sales last month. November 2012 sales were at their highest level compared to November of 2011 and 2010. November YTD sales of 1,964 are running 1.5% behind last year’s year-to-date sales of 1,993.
Prices
The Median Sales Price in November was $166,900, up 20.9% from $138,000 in November of 2011 and up 4.0% from $160,500 last month. The Average Sales Price in November was $190,008, up 16.4% from $163,270 in November of 2011 and up 0.9% from $188,385 last month. November 2012 ASP was at the highest level compared to November of 2011 and 2010.
Inventory & MSI
The Total Inventory of Properties available for sale as of November was 374, down 3.1% from 386 last month and down 14.8% from 439 in November of last year. November 2012 Inventory was at its lowest level compared with November of 2011 and 2010. A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The November 2012 MSI of 2.3 months was at its lowest level compared with November of 2011 and 2010.
Market Time
The average Days On Market (DOM) shows how many days the average Property is on the market before it sells. An upward trend in DOM tends to indicate a move towards more of a Buyer’s market, a downward trend a move towards more of a Seller’s market. The DOM for November was 37, down 11.9% from 42 days last month and down 36.2% from 58 days in November of last year. The November 2012 DOM was at its lowest level compared with November of 2011 and 2010.
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Copyright © Coldwell Banker Residential Brokerage – Data is provided courtesy of Arizona Regional Multiple Listing Service, Inc.; Tucson Association of Realtors and Prescott Area Association of Realtors and may not reflect all relevant real estate activity. Coldwell Banker Residential Brokerage does not guarantee the accuracy of this information. It is the responsibility of any buyer or seller to verify any and all information relevant to such consumer’s real estate transaction.
