Is Surprise, AZ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Surprise has remained a Seller's Market.
Housing Prices in Surprise, AZ
How much do homes in Surprise, AZ cost?
Median Sold Price
$429,998
$236/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Surprise was $429,998 in May 2024, down 1.9% from last year, and the median price per square foot was $236.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $220.9K | $199K | -9.9% |
2 Bedrooms | $400K | $399.6K | -0.1% |
3 Bedrooms | $416K | $409.9K | -1.5% |
4 Bedrooms | $470.7K | $460.2K | -2.2% |
5+ Bedrooms | $547.5K | $550K | 0.5% |
Summary: Surprise housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 9.9%, 2 bedroom homes decreased by 0.1%, 3 bedroom homes decreased by 1.5%, 4 bedroom homes decreased by 2.2%, and 5+ bedroom homes increased by 0.5%.
Housing Supply in Surprise, AZ
How many homes are available in Surprise, AZ?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
1,410 | 1,414 | 0.3% |
Summary: The Surprise real estate market had 1,414 homes for sale in May 2024, a 0.3% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 14 | 17 | +21.4% |
2 Bedrooms | 358 | 322 | -10.1% |
3 Bedrooms | 554 | 555 | 0.2% |
4 Bedrooms | 375 | 405 | +8.0% |
5+ Bedrooms | 109 | 115 | +5.5% |
Summary: The Surprise housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 21.4%, 2 bedroom homes decreased by 10.1%, 3 bedroom homes increased by 0.2%, 4 bedroom homes increased by 8%, and 5+ bedroom homes increased by 5.5%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
310 | 331 | +6.8% |
Asking Price vs. Sold Price
177 Homes Were Sold
Under Asking
99 Homes Were Sold
At Asking
55 Homes Were Sold
Over Asking
Summary: A total of 331 homes were sold or pending in Surprise in May 2024, up by 6.8% month-over-month. Of the 331 sold homes, 53% were sold under asking, 30% were sold at asking, and 17% were sold over asking.
Days on Market for Surprise, AZ
How long does it take to sell a home in Surprise, AZ?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
65 Days | 74 Days | +13.8% |
Summary: Homes in Surprise had an average of 74 days on market in May 2024, up by 13.8% compared to last year.
Breakdown of Home Sale Times
92 Homes Were Sold
Under 30 Days
147 Homes Were Sold
In 30 - 90 Days
92 Homes Were Sold
Over 90 Days
Summary: During May 2024, 331 homes were sold in Surprise; 28% of homes were sold within 30 days, 44% of homes were sold within 30 to 90 days, and 28% of homes were sold over 90 days.