Our local market expert for the Tempe area, Kent Gagon, reports the Arizona real estate market is showing signs of life again.

He says there are currently around 975 homes listed for sale, with an average price of $366,595, and an average of 131 days on the market.

Prices in the Tempe area seem to be stabilizing, Gagon says, and it seems that in this centralized city the so called “bottom” has been reached or is very close.

As evidence of this, there have been fewer foreclosures in Tempe as in nearby surrounding cities.

Gagon expects to see growing numbers of homes pending for sale, with a continued stabilization of prices.

Because of its central location, quick freeway access, shopping, close proximity to Phoenix and location of Arizona State University, Tempe real estate should hold its value well for years to come.

For more information on this area, contact Kent Gagon at:
http://www.allarizonarealestate.com.

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Published: March 5, 2008

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