Is Surprise, AZ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 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
$429,827
$236/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Surprise was $429,827 in April 2024, down 3.3% from last year, and the median price per square foot was $236.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $175K | $212.9K | +21.7% |
2 Bedrooms | $410K | $399.9K | -2.4% |
3 Bedrooms | $424.9K | $408.3K | -3.9% |
4 Bedrooms | $478.6K | $461.1K | -3.6% |
5+ Bedrooms | $550K | $549.4K | -0.1% |
Summary: Surprise housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 21.7%, 2 bedroom homes decreased by 2.4%, 3 bedroom homes decreased by 3.9%, 4 bedroom homes decreased by 3.6%, and 5+ bedroom homes decreased by 0.1%.
Housing Supply in Surprise, AZ
How many homes are available in Surprise, AZ?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
1,413 | 1,416 | 0.2% |
Summary: The Surprise real estate market had 1,416 homes for sale in April 2024, a 0.2% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 17 | 16 | -5.9% |
2 Bedrooms | 372 | 364 | -2.2% |
3 Bedrooms | 572 | 564 | -1.4% |
4 Bedrooms | 346 | 364 | +5.2% |
5+ Bedrooms | 106 | 108 | +1.9% |
Summary: The Surprise housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 5.9%, 2 bedroom homes decreased by 2.2%, 3 bedroom homes decreased by 1.4%, 4 bedroom homes increased by 5.2%, and 5+ bedroom homes increased by 1.9%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
306 | 317 | +3.6% |
Asking Price vs. Sold Price
152 Homes Were Sold
Under Asking
115 Homes Were Sold
At Asking
50 Homes Were Sold
Over Asking
Summary: A total of 317 homes were sold or pending in Surprise in April 2024, up by 3.6% month-over-month. Of the 317 sold homes, 48% were sold under asking, 36% were sold at asking, and 16% 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
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
74 Days | 76 Days | +2.6% |
Summary: Homes in Surprise had an average of 76 days on market in Apr 2024, up by 2.6% compared to last year.
Breakdown of Home Sale Times
91 Homes Were Sold
Under 30 Days
128 Homes Were Sold
In 30 - 90 Days
98 Homes Were Sold
Over 90 Days
Summary: During April 2024, 317 homes were sold in Surprise; 29% of homes were sold within 30 days, 40% of homes were sold within 30 to 90 days, and 31% of homes were sold over 90 days.