Your Arizona Market Report
Surprise, AZ
Single-Family Homes
Surprise, AZ
Fri Mar 05 2021
This week the median list price for Surprise, AZ is $425,000 with the market action index hovering around 90. This is an increase over last month's market action index of 84. Inventory has held steady at or around 91.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
The market continues to get hotter. More sales demand and fewer homes listed have contributed to a relatively long run of increasing prices. Current supply and demand levels show no sign of prices changing from their current trend.
Real-Time Market Profile
| Median List Price | $425,000 | |
| Per Square Foot | $204 | |
| Days on Market | 7 | |
| Price Decreased | 18% | |
| Price Increased | 12% | |
| Relisted | 5% | |
| Inventory | 91 | |
| Median Rent | $1,950 | |
| Most Expensive | $1,300,000 | |
| Least Expensive | $125,000 | |
| Market Action | 90 | |
| Strong Seller's Market | ||
Prices hit another all time high this week. Given current conditions, prices continue to march higher. A persistent drop of the Market Action Index into the Buyer’s zone will be a leading indicator of the price strength subsiding.
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 |
|---|---|---|---|---|---|---|---|---|
| $664,545 | 2,969 | 0.25 - 0.5 acre | 3 | 3 | 15 | 4 | 6 | 38 |
| $468,990 | 2,471 | 8,000 - 10,000 sqft | 3 | 2 | 14 | 9 | 8 | 7 |
| $399,900 | 2,035 | 6,500 - 8,000 sqft | 3 | 2 | 17 | 13 | 16 | 7 |
| $325,000 | 1,590 | 4,500 - 6,500 sqft | 3 | 2 | 19 | 14 | 19 | 0 |