Your Arizona Market Report
Surprise, AZ
Single-Family Homes
Surprise, AZ
Wed May 27 2020
This week the median list price for Surprise, AZ is $325,000 with the market action index hovering around 54. This is less than last month's market action index of 55. Inventory has held steady at or around 426.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
The market has started cooling and prices have been flat for several weeks. Since we’re in the Seller’s zone, watch for changes in MAI. If the MAI resumes its 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
| Median List Price | $325,000 | |
| Per Square Foot | $165 | |
| Days on Market | 59 | |
| Price Decreased | 40% | |
| Price Increased | 11% | |
| Relisted | 4% | |
| Inventory | 426 | |
| Median Rent | $1,600 | |
| Most Expensive | $3,500,000 | |
| Least Expensive | $110,000 | |
| Market Action | 54 | |
| Strong Seller's Market | ||
The market is hovering around this plateau. Look for a persistent change in the Market Action Index before we see prices deviate from these levels.
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 |
|---|---|---|---|---|---|---|---|---|
| $449,450 | 2,507 | 8,000 - 10,000 sqft | 3 | 2 | 16 | 10 | 9 | 91 |
| $348,745 | 2,272 | 0 - 4,500 sqft | 4 | 2 | 8 | 18 | 21 | 58 |
| $299,900 | 1,810 | 0 - 4,500 sqft | 3 | 2 | 15 | 13 | 24 | 52 |
| $260,000 | 1,571 | 0 - 4,500 sqft | 3 | 2 | 17 | 28 | 37 | 35 |