Forty-eight Tempe condos (classified as “Townhouse” and “Apartment Style” in the MLS), closed in July, 7 more than June. Active listings as of 8/16/08 are at 393, up from June’s reported actives of 387. Inventory dipped to about 8 months from 9 last month.
As predicted in my last report, average Tempe condo sales price fell to $216,929 from June’s $235,809, and will probably drop again in August based on pending sales.
Median sale price also dropped to $187,000 from $210,000.
As of 8/16/08, 20 condos have closed in August and 38 sales are pending.
Data Source: Arizona Regional Multiple Listing Service, information deemed reliable but not guaranteed
Previous Report: June 2008 Tempe Condo Sales
Copyright © 2008 Rod Rebello
www.TempeAgentNews.com
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