Is Surprise, AZ a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Surprise is a seller's market

Buyer's
Market

Difference Since August 2021

Since last year, Surprise has remained a Seller's Market.

Key Takeaway

Surprise is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

How much do homes in Surprise, AZ cost?

Median Sold Price

$444,927

$242/sqft

Based on all homes sold in the last 12 months.

Difference Since August 2021

+$90,156(+25.4%)

Key Takeaway

Homes in Surprise have sold for 25.4% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSAug 2021Aug 2022%
1 $153K$184.9K
+20.8%
2 $326K$405K
+24.2%
3 $336.1K$426K
+26.7%
4 $380.8K$471.1K
+23.7%
5+ $430K$555K
+29.1%

Median Sold Price Compared To Nearby Cities

El Mirage
+34.6%
Waddell
+33.5%
Surprise
+25.4%
Peoria
+23.3%
Wittmann
+23.0%

How many homes are available in Surprise, AZ?

Number of Homes For Sale

Jul 2022Aug 2022%
1,0571,205+14.0%

Homes For Sale By Bedroom Count

# BEDSJul 2022Aug 2022%
1 1515
0.0%
2 170176
+3.5%
3 485555
+14.4%
4 297360
+21.2%
5+ 9099
+10.0%

Number of Homes Sold

Jul 2022Aug 2022%
197220+11.7%

Asking Price vs. Sold Price

103 Homes Were Sold
Under Asking

80 Homes Were Sold
At Asking

37 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Surprise, you may be able to get a good deal. 46.8% of homes here sold below asking price last month.

Average Sale Time

Aug 2021Aug 2022%
21 Days33 Days+55.9%

Breakdown of Home Sale Times

111 Homes Were Sold
Under 30 Days

100 Homes Were Sold
In 30 - 90 Days

9 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Surprise are selling fast, if you're buying plan to act quickly.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

About Surprise, AZ

Surprise, AZ has 1,205 homes for sale to choose from. The inventory of homes for sale in Surprise, AZ between July 2022 and August 2022 increased by 14%. While the average time on the market in August 2022 was 33 days, the median list price was $444,927. Between July 2022 and August 2022, listing prices of homes in this real estate market have seen the following changes: 1 bedroom properties became 20.8% more expensive, the cost of 2 bedrooms properties went up by 24.2%, prices of 3 bedrooms properties increased by 26.7%, prices of 4 bedrooms properties went up by 23.7%, 5 bedrooms properties prices increased by 29.1%. The following changes in the number of homes for sale were observed in this housing market: 1 bedroom homes inventory did not change, number of 2 bedrooms homes increased by 3.5%, 3 bedrooms homes inventory increased by 14.4%, volume of 4 bedrooms homes went up by 21.2%, volume of 5 bedrooms homes went up by 10%. In August 2022, from all listings sold in Surprise, AZ there were more than 37 sold above asking price, over 103 sold below and more than 80 were sold right at the asked price.

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