Tempe Real Estate
Tempe is best known as the home of Arizona State University, now one of the largest in the country and known for its premier research in many fields. Part of its sprawling campus can be seen from the State Route 60 across Tempe Town Lake, which boasts two million visitors a year to its special events such as fireworks over the Mill Avenue Bridge, Octoberfest and 5K races. ASU’s Gammage Theater brings cultural events and shows directly from Broadway to the Southwest.
Tempe offers an unusual and diverse quality of life mixing the dynamics of high-tech businesses with a small college town culture, warm residential neighborhoods and the activities of a vibrant down town night life. Downtown Tempe is specifically designed to be pedestrian-oriented for casual access to its many restaurants, shops, theaters and hotels. Add in the fun and excitement of the Arizona Sun Devils and LA Angels spring training at Tempe Diablo Stadium and you may decide Tempe is your next home. Located in the center of Maricopa County, just south of Scottsdale and west of Mesa, Tempe is ideally situated for easy work commutes.
You’ll find every style of home throughout Tempe from high-end luxury homes on large lots, to downtown condos and adobe century homes. The 125-acre Kiwanis Park, with its softball and soccer fields, volleyball and tennis courts, playgrounds and picnic ramadas, is the center of many housing developments in Tempe.
Tempe Housing Market
The 85281 ZIP code in the north end of the city, which includes the areas closest to ASU, downtown and north of the Salt River, saw the median sale price increase 22.1 percent from the first quarter of 2015. That’s a jump in median value from $190,000 to $232,000 for new and resales combined. The total sales year over year for the same period increased 52 percent in the ZIP code. Since Tempe is nestled in the middle of the Valley’s larger communities, there is no room for expansion which accounts for little swings in Tempe’s high home values.