Is Surprise, AZ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 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
$429,626
$235/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Surprise was $429,626 in March 2024, down 4.5% from last year, and the median price per square foot was $235.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $190K | $201.7K | +6.2% |
2 Bedrooms | $413K | $399.9K | -3.1% |
3 Bedrooms | $429.9K | $409K | -4.9% |
4 Bedrooms | $483K | $460.9K | -4.6% |
5+ Bedrooms | $560K | $540K | -3.6% |
Summary: Surprise housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 6.2%, 2 bedroom homes decreased by 3.1%, 3 bedroom homes decreased by 4.9%, 4 bedroom homes decreased by 4.6%, and 5+ bedroom homes decreased by 3.6%.
Housing Supply in Surprise, AZ
How many homes are available in Surprise, AZ?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
1,356 | 1,384 | +2.1% |
Summary: The Surprise real estate market had 1,384 homes for sale in March 2024, a 2.1% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 19 | 17 | -10.5% |
2 Bedrooms | 344 | 360 | +4.7% |
3 Bedrooms | 533 | 554 | +3.9% |
4 Bedrooms | 358 | 345 | -3.6% |
5+ Bedrooms | 102 | 108 | +5.9% |
Summary: The Surprise housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 10.5%, 2 bedroom homes increased by 4.7%, 3 bedroom homes increased by 3.9%, 4 bedroom homes decreased by 3.6%, and 5+ bedroom homes increased by 5.9%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
260 | 310 | +19.2% |
Asking Price vs. Sold Price
175 Homes Were Sold
Under Asking
99 Homes Were Sold
At Asking
36 Homes Were Sold
Over Asking
Summary: A total of 310 homes were sold or pending in Surprise in March 2024, up by 19.2% month-over-month. Of the 310 sold homes, 56% were sold under asking, 32% were sold at asking, and 12% 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
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
73 Days | 74 Days | +0.6% |
Summary: Homes in Surprise had an average of 74 days on market in Mar 2024, up by 0.6% compared to last year.
Breakdown of Home Sale Times
90 Homes Were Sold
Under 30 Days
121 Homes Were Sold
In 30 - 90 Days
99 Homes Were Sold
Over 90 Days
Summary: During March 2024, 310 homes were sold in Surprise; 29% of homes were sold within 30 days, 39% of homes were sold within 30 to 90 days, and 32% of homes were sold over 90 days.