The median sales price in Surprise last month was $265,000, which is up almost 13% year over year compared to Nov ‘17, and 21% compared with Nov ‘16. Since that is such a significant increase, we want to keep a couple things in mind:
Short time periods and/or isolated points in time may not show the actual trend. (This is why I look at trends more often than specific months.) We can see an example of how this can affect the charts by looking at Chandler from June and July - very different presentations of trends only one month apart..
So, while the trend in Surprise is upward, I would take this huge percentage increase with a grain of salt.
- Chris Butterworth
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* All chart data represents single-family detached homes only. Information is believed accurate but not guaranteed.