Is Surprise, AZ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since February 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
$425,000
$234/sqft
Based on all homes sold in the last 12 months.
Difference Since February 2023
Summary: The median home sold price in Surprise was $425,000 in February 2024, down 6.6% from last year, and the median price per square foot was $234.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Feb 2023 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $177K | $225.4K | +27.4% |
2 Bedrooms | $419.5K | $395K | -5.9% |
3 Bedrooms | $434.9K | $405K | -6.9% |
4 Bedrooms | $485.1K | $460K | -5.2% |
5+ Bedrooms | $560K | $538.9K | -3.8% |
Summary: Surprise housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes increased by 27.4%, 2 bedroom homes decreased by 5.9%, 3 bedroom homes decreased by 6.9%, 4 bedroom homes decreased by 5.2%, and 5+ bedroom homes decreased by 3.8%.
Housing Supply in Surprise, AZ
How many homes are available in Surprise, AZ?
Number of Homes For Sale
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
1,264 | 1,338 | +5.9% |
Summary: The Surprise real estate market had 1,338 homes for sale in February 2024, a 5.9% increase compared to January 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Jan 2024 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 17 | 17 | 0.0% |
2 Bedrooms | 313 | 338 | +8.0% |
3 Bedrooms | 503 | 539 | +7.2% |
4 Bedrooms | 338 | 347 | +2.7% |
5+ Bedrooms | 93 | 97 | +4.3% |
Summary: The Surprise housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 8%, 3 bedroom homes increased by 7.2%, 4 bedroom homes increased by 2.7%, and 5+ bedroom homes increased by 4.3%.
Number of Homes Sold
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
208 | 237 | +13.9% |
Asking Price vs. Sold Price
146 Homes Were Sold
Under Asking
65 Homes Were Sold
At Asking
26 Homes Were Sold
Over Asking
Summary: A total of 237 homes were sold or pending in Surprise in February 2024, up by 13.9% month-over-month. Of the 237 sold homes, 62% were sold under asking, 27% were sold at asking, and 11% 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
Feb 2023 | Feb 2024 | CHANGE |
---|---|---|
82 Days | 71 Days | -13.8% |
Summary: Homes in Surprise had an average of 71 days on market in Feb 2024, down by 13.8% compared to last year.
Breakdown of Home Sale Times
73 Homes Were Sold
Under 30 Days
98 Homes Were Sold
In 30 - 90 Days
66 Homes Were Sold
Over 90 Days
Summary: During February 2024, 237 homes were sold in Surprise; 31% of homes were sold within 30 days, 41% of homes were sold within 30 to 90 days, and 28% of homes were sold over 90 days.