By Paul Maryniak | East Valley Tribune
Affordable housing in Tempe took another hit in February as the average sale price of a home here jumped 12.4% over February 2023.
The average price of a home sold in Tempe last month was $593,193, rocketing past the $527,810 average 12 months prior and above the February 2024 Valley average of $580,689, according to data from Phoenix REALTORS.
The $540,000 median price of Tempe homes sold last month also rose, recording an 8.9% increase over February 2023. While that percentage increase was only slightly above the Valley-wide percentage increase, the median price of a home sold in Tempe last month far exceeded the Valley-wide average median of $470,000, according to the Phoenix REALTORS’ data.
