Surprise, AZ

Surprise like many suburbs were hit hard, but these are also the areas in the midst of a hot real estate grab. Inventory is at a long time low of 800 homes and months of inventory is down to 2.7 months, which is very low even compared to a low 3.9 months last year.

It means increasing prices. The average price is up to $153,271 from $143,926 last year and the more meaningful Median price up to $135,000 which is a significant rise in one year from $123,550 last year. 

 (Graph - Cromford Report)

Just like the rest of the valley and more so real estate in Surprise is pretty hot. 334 homes sold in August 2011 and tere are 441 pending, or awaiting a sales already under contract. 

Demand and not supply has drivng the total tupply to only 2.7 months, or somewhere squarely in favor of sellers. This is something many of our clients have found out when submitting contracts only to find out, 10, 15, 20 other people also did that. 

Of course this does not happen with all properties, just the best prepared homes for sale. So homes that are move in ready are really popular, that's what people want. Homes that need some or a lot of work are not as popular.

( Graph: Cromford Report)

Surprise AZ Listings For Sale