Tempe February 2008 Condo Update
Twenty condos (classified as "Townhouse" and "Apartment Style" in the MLS), closed in February, one less than January. Active listings as of 3/19/08 are at 354, up from January, pushing inventory out to 18 months from 16. This is also known as the absorption rate, or the length of time it would take to sell the current active listings if no new listings were added and the sales rate remained constant (354 listings / 20 sold listings per month).
Average sales price has increased from January's $190,466 to February's $240,650.
As of 3/19/08, 7 condos have closed in March.
| Sold - 20 Properties Found 2/1/2008 - 2/29/2008 |
| | Sq Ft | Beds | Baths | List Price | Sale Price | Total DOM |
| Min | 984 | 1 | 1 | $123,700 | $120,000 | 7 |
| Avg | 1341 | 2 | 2.05 | $256,840 | $240,650 | 114 |
| Max | 1758 | 3 | 2.5 | $545,000 | $525,000 | 343 |
| Active - 354 Properties Found as of 3/19/2008 |
| | Sq Ft | Beds | Baths | List Price | Sale Price | Total DOM |
| Min | 560 | 1 | 1 | $109,900 | $0 | 0 |
| Avg | 1260 | 2 | 1.96 | $331,398 | $0 | 128 |
| Max | 3217 | 4 | 3.5 | $3,300,000 | $0 | 583 |
Data Source: Arizona Regional Multiple Listing Service, information deemed reliable but not guaranteed
Copyright © 2008 Rod Rebello
www.RodSellsAZhomes.com