Your Arizona Market Report
Surprise, AZ
Single-Family Homes
Surprise, AZ
Fri Feb 28 2020
This week the median list price for Surprise, AZ is $345,500 with the market action index hovering around 52. This is an increase over last month's market action index of 49. Inventory has held steady at or around 393.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
While the Market Action Index shows some strengthening in the last few weeks, prices have not seemed to move from their plateau. Should the upward trend in sales relative to inventory continue, expect prices to resume an upward climb in tandem with the MAI.
Real-Time Market Profile
| Median List Price | $345,500 | |
| Per Square Foot | $163 | |
| Days on Market | 66 | |
| Price Decreased | 30% | |
| Price Increased | 12% | |
| Relisted | 5% | |
| Inventory | 393 | |
| Median Rent | $1,565 | |
| Most Expensive | $925,000 | |
| Least Expensive | $140,000 | |
| Market Action | 52 | |
| Strong Seller's Market | ||
Prices appear to be hovering around their high point. Look for a persistent down-shift 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 |
|---|---|---|---|---|---|---|---|---|
| $483,950 | 2,601 | 0.25 - 0.5 acre | 3 | 2 | 15 | 14 | 7 | 82 |
| $369,900 | 2,345 | 8,000 - 10,000 sqft | 3 | 2 | 15 | 15 | 15 | 73 |
| $319,945 | 2,210 | 0 - 4,500 sqft | 3 | 2 | 15 | 21 | 20 | 66 |
| $268,000 | 1,667 | 0 - 4,500 sqft | 3 | 2 | 18 | 30 | 33 | 43 |