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 June 2023

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 in Surprise, AZ

How much do homes in Surprise, AZ cost?

Median Sold Price

$430,005

$237/sqft

Based on all homes sold in the last 12 months.

Difference Since June 2023

-$345(-0.1%)

Key Takeaway

The sold price of homes in Surprise has remained the same since last year.

Summary: The median home sold price in Surprise was $430,005 in June 2024, down 0.1% from last year, and the median price per square foot was $237.

Median Sold Price By Bedroom Count

# BEDSJun 2023Jun 2024CHANGE
1 $237K$196.7K
-17.0%
2 $397.9K$398.8K
0.2%
3 $411.3K$410K
-0.3%
4 $465.3K$460.5K
-1.0%
5+ $538K$552.9K
+2.8%

Summary: Surprise housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 17%, 2 bedroom homes increased by 0.2%, 3 bedroom homes decreased by 0.3%, 4 bedroom homes decreased by 1%, and 5+ bedroom homes increased by 2.8%.

Median Sold Price Compared To Nearby Cities

Peoria
+2.1%
El Mirage
0.0%
Surprise
-0.1%
Wittmann
-0.2%
Waddell
-2.1%

Housing Supply in Surprise, AZ

How many homes are available in Surprise, AZ?

Number of Homes For Sale

May 2024Jun 2024CHANGE
1,4171,336-5.7%

Summary: The Surprise real estate market had 1,336 homes for sale in June 2024, a 5.7% decrease compared to May 2024.

Homes For Sale By Bedroom Count

# BEDSMay 2024Jun 2024CHANGE
1 1515
0.0%
2 314268
-14.6%
3 562518
-7.8%
4 417413
-1.0%
5+ 109122
+11.9%

Summary: The Surprise housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 14.6%, 3 bedroom homes decreased by 7.8%, 4 bedroom homes decreased by 1%, and 5+ bedroom homes increased by 11.9%.

Number of Homes Sold

May 2024Jun 2024CHANGE
334278-16.8%

Asking Price vs. Sold Price

135 Homes Were Sold
Under Asking

92 Homes Were Sold
At Asking

51 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. 48.6% of homes here sold below asking price last month.

Summary: A total of 278 homes were sold or pending in Surprise in June 2024, down by 16.8% month-over-month. Of the 278 sold homes, 49% were sold under asking, 33% were sold at asking, and 18% 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

Jun 2023Jun 2024CHANGE
67 Days74 Days+10.5%

Summary: Homes in Surprise had an average of 74 days on market in Jun 2024, up by 10.5% compared to last year.

Breakdown of Home Sale Times

82 Homes Were Sold
Under 30 Days

118 Homes Were Sold
In 30 - 90 Days

78 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in Surprise has remained consistent over time.

Summary: During June 2024, 278 homes were sold in Surprise; 29% of homes were sold within 30 days, 42% of homes were sold within 30 to 90 days, and 28% of homes were sold over 90 days.

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

Report Updated 23 Days Ago

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