First Arizona Title's Market Report

Surprise, AZ

Single-Family Homes

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



Surprise, AZ

Sat Nov 27 2021
This week the median list price for Surprise, AZ is $489,900 with the market action index hovering around 83. This is less than last month's market action index of 84. Inventory has decreased to 223. 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.

Strong Seller's Market

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

Sat Nov 27 2021
This week the median list price for Surprise, AZ is $489,900 with the market action index hovering around 83. This is less than last month's market action index of 84. Inventory has decreased to 223. 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.

Strong Seller's Market

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 $489,900
Median Price of New Listings $440,000
Per Square Foot $233
Average Days on Market 34
Median Days on Market 14
Price Decreased 28%
Price Increased 6%
Relisted 3%
Inventory 223
Median Rent $2,150
Market Action 83
Strong Seller's Market

The market seems to have paused around its high point. 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
$715,000 2,938 0.25 - 0.5 acre 4 3 8 5 14 35
$529,947 2,763 6,500 - 8,000 sqft 4 2.5 16 18 17 17
$456,449 2,028 4,500 - 6,500 sqft 3 2 17 13 16 14
$380,000 1,521 4,500 - 6,500 sqft 3 2 19 29 29 3