First Arizona Title's Market Report

Surprise, AZ

Single-Family Homes

First Arizona Title Agency | (480) 385-6500 | www.FirstAZTitle.com



Surprise, AZ

Tue Sep 27 2022
This week the median list price for Surprise, AZ is $474,000 with the market action index hovering around 38. This is less than last month's market action index of 43. Inventory has increased to 677. Click here to stay informed with the Surprise market!

Market Action Index

This answers “How’s the Market?” by comparing rate of sales versus inventory.

Slight Seller's Advantage

The market has been cooling over time and prices have recently flattened. Despite the consistent decrease in Market Action Index (MAI), we’re in a Seller’s Market (where significant demand leaves little inventory available). If the MAI begins to climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.

Surprise, AZ

Tue Sep 27 2022
This week the median list price for Surprise, AZ is $474,000 with the market action index hovering around 38. This is less than last month's market action index of 43. Inventory has increased to 677. Click here to stay informed with the Surprise market!

Market Action Index

This answers “How’s the Market?” by comparing rate of sales versus inventory.

Slight Seller's Advantage

The market has been cooling over time and prices have recently flattened. Despite the consistent decrease in Market Action Index (MAI), we’re in a Seller’s Market (where significant demand leaves little inventory available). If the MAI begins to climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.

Real-Time Market Profile

Never miss important changes in the Surprise market.
Median List Price $474,000
Median Price of New Listings $464,000
Per Square Foot $244
Average Days on Market 53
Median Days on Market 42
Price Decreased 68%
Price Increased 3%
Relisted 6%
Inventory 677
Median Rent
Market Action 38
Slight Seller's Advantage

The market seems to have paused around this plateau. The Market Action Index is a good leading indicator for the durability of this trend.

Market Segments

Each segment below represents approximately 25% of the market ordered by price.

Median Price Sq. Ft. Lot Size Beds Bath Age New Absorbed DOM
$649,000 2,800 8,000 - 10,000 sqft 4 3 17 17 10 42
$508,000 2,126 6,500 - 8,000 sqft 4 2.5 17 19 12 49
$449,000 1,897 4,500 - 6,500 sqft 3 2 18 16 12 42
$399,000 1,479 4,500 - 6,500 sqft 3 2 21 27 24 42