Home values in Tempe have been rising in the past few years. In 2011, the median sales price of a home was below $150,000. Since then, the median sales price has risen at an astonishing rate to above $200,000. The property values have shown extraordinary stability, and a steady influx into the homes throughout 2014 has kept property values stable, offering home buyers an excellent opportunity to enter the market for a reasonable price while still retaining the possibility of future growth. The two most popular neighborhoods in Tempe are Sunset and Kiwanis Park.
Among all the Maricopa County cities, Tempe has one of the strongest attachments to tourism. This also bolsters property values and makes the properties in Tempe unique. Tempe has the largest population density in Maricopa County, again increasing property values. Anyone interested in searching through the currently available properties in Tempe or the surrounding Maricopa County region should contact realtors in Tempe before the prices continue to rise.
Why You Should Live in Tempe
Unlike many other areas in the Phoenix Metropolitan area, Tempe is about evenly split between youthful residents and families; this makes it a vibrant, exciting and ever-changing city. Most Tempe residents have barely any commute; the average commute time for a Tempe resident is between ten and 20 minutes. This gives both young professionals and families more time to enjoy the fantastic Arizona weather.
Besides being part of the thriving Arizona area, Tempe offers some extraordinary benefits. There are multiple cultural centers, such as the Gammage Auditorium and the Tempe Center for Arts, and the city has one of the largest shopping malls in Arizona, the Arizona Mills. Additionally, an open-air mall often features incredible events, such as light and laser shows. There are a public art program and a strong tourist culture within Tempe, and there is a strong sports culture.
Due to the numerous universities, the rental culture in Tempe is strong, allowing properties to easily be converted into real estate investments. Both home buyers and investors may want to discuss this possibility with their real estate agent. Given the proximity to the many colleges, the public transportation system in Tempe is also very robust. A rail system, bus routes, and multiple freeways travel through and to Tempe, making the city an ideal home for families with teens and college students.
The top employers within Tempe are the educational, retail, and banking sectors. Many companies make Tempe their home, and additional opportunities exist outside Tempe in the Phoenix metropolitan region. It is this thriving economy that has kept property values in Tempe on the rise. Tempe also has an assortment of school districts, private schools, public schools, charter schools, and the Arizona State University.
Like much of Maricopa County, the temperatures in Tempe tend to range between the 60s and 70s, and the temperate weather is ideal for home buyers interested in the great outdoors. Tempe Town Lake is an extraordinary boon to the area, offering a wide array of lakeside activities such as fishing, kayaking, boating, rowing, and paddle boarding. The Ironman Triathlon also occurs on an annual basis in Tempe.
If you are interested in Tempe, you may also be interested in the surrounding Chandler region; Chandler is similar but offers more luxury possibilities and fewer condominium, options. Your Tempe realtor can educate you further on the benefits of each area and help you search properties in Tempe for the perfect property for you and your family.
About the Neighborhood
The ARMLS Logo indicates a property listed by a real estate brokerage other than ours.
© 2021 Arizona Regional Multiple Listing Service, Inc. All rights reserved.
Listing Information Current As Of Apr 12, 2021 6:50:pm