Is Surprise, AZ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since August 2022
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.
Housing Prices
How much do homes in Surprise, AZ cost?
Median Sold Price
$424,991
$232/sqft
Based on all homes sold in the last 12 months.
Difference Since August 2022
Key Takeaway
Homes in Surprise have sold for 4.5% less than they did a year ago.
Summary: The median home sold price in Surprise was $424,991 in August 2023, down 4.5% from last year, and the median price per square foot was $232.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Aug 2022 | Aug 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $184.9K | $231.5K | +25.2% |
| 2 Bedrooms | $405K | $392.6K | -3.1% |
| 3 Bedrooms | $426.5K | $401.9K | -5.8% |
| 4 Bedrooms | $475K | $464.8K | -2.1% |
| 5+ Bedrooms | $560K | $535K | -4.5% |
Summary: Surprise housing prices by bedroom type for August 2023 compared to the previous year: The home price of 1 bedroom homes increased by 25.2%, 2 bedroom homes decreased by 3.1%, 3 bedroom homes decreased by 5.8%, 4 bedroom homes decreased by 2.1%, and 5+ bedroom homes decreased by 4.5%.
Housing Supply
How many homes are available in Surprise, AZ?
Number of Homes For Sale
| Jul 2023 | Aug 2023 | CHANGE |
|---|---|---|
| 1,091 | 1,099 | +0.7% |
Summary: The Surprise real estate market had 1,099 homes for sale in August 2023, a 0.7% increase compared to July 2023.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Jul 2023 | Aug 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 17 | 13 | -23.5% |
| 2 Bedrooms | 206 | 188 | -8.7% |
| 3 Bedrooms | 440 | 451 | +2.5% |
| 4 Bedrooms | 327 | 340 | +4.0% |
| 5+ Bedrooms | 101 | 107 | +5.9% |
Summary: The Surprise housing inventory by bedroom type for August 2023 compared to the previous month: The inventory of 1 bedroom homes decreased by 23.5%, 2 bedroom homes decreased by 8.7%, 3 bedroom homes increased by 2.5%, 4 bedroom homes increased by 4%, and 5+ bedroom homes increased by 5.9%.
Number of Homes Sold
| Jul 2023 | Aug 2023 | CHANGE |
|---|---|---|
| 295 | 245 | -16.9% |
Asking Price vs. Sold Price
130 Homes Were Sold
Under Asking
75 Homes Were Sold
At Asking
40 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Surprise, you may be able to get a good deal. 53.1% of homes here sold below asking price last month.
Summary: A total of 245 homes were sold or pending in Surprise in August 2023, down by 16.9% month-over-month. Of the 245 sold homes, 53% were sold under asking, 31% were sold at asking, and 16% were sold over asking.
Days on Market
How long does it take to sell a home in Surprise, AZ?
Average Sale Time
| Aug 2022 | Aug 2023 | CHANGE |
|---|---|---|
| 33 Days | 60 Days | +80.8% |
Summary: Homes in Surprise had an average of 60 days on market in Aug 2023, up by 80.8% compared to last year.
Breakdown of Home Sale Times
88 Homes Were Sold
Under 30 Days
108 Homes Were Sold
In 30 - 90 Days
49 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Surprise has remained consistent over time.
Summary: During August 2023, 245 homes were sold in Surprise; 36% of homes were sold within 30 days, 44% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.
The data relating to real estate for sale on this site comes from the Broker Reciprocity/IDX of Arizona Regional Multiple Listing Service, Inc. Indicates a property listed by a real estate brokerage other than Rocket Homes Real Estate, LLC. All information should be verified by the recipient and none is guaranteed as accurate by ARMLS. No warranties, expressed or implied, are provided for the data herein, or for their use or interpretation by the user. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Arizona Regional Multiple Listing Service, Inc. do not create, control or review the property data displayed herein and take no responsibility for the content of such records. Federal law prohibits discrimination on the basis of race, color, religion, sex, handicap, familial status or national origin in the sale, rental or financing of housing. Information deemed reliable but not guaranteed. Copyright© 2023 Arizona Regional Multiple Listing Service, Inc. All Rights Reserved.