Surprise

Last 4 Years have been good in Surprise

Buying in Surprise in 2014 would have been a good investment, as the median sales price is up almost 45% over the last 4 years. The median sales price was $260,000 in Feb ‘19, up 3% YoY from $252,500 in Feb ‘18, and 21% from $215,000 in Feb ‘17.

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- Chris Butterworth

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Simple MLS Charts is supported by readers like you. If you find these charts useful, please consider becoming a patron with a small monthly pledge on Patreon.

* All chart data represents single-family detached homes only. Information is believed accurate but not guaranteed.

 

Prices march higher in Surprise

Pricing remained strong in Surprise in January, with the Median Price per Square Foot of $142.13 up 6% Year over Year from last January ($134.06) and 19.3% from 2 years ago ($118.85).

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- Chris Butterworth

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Simple MLS Charts is supported by readers like you. If you find these charts useful, please consider becoming a patron with a small monthly pledge on Patreon.

* All chart data represents single-family detached homes only. Information is believed accurate but not guaranteed.

 

2018 Sales Volume by City

The chart above is sorted by sales volume. Below, I’ve taken the same chart and sorted the cities alphabetically. You can decide which one works best for you.

AZ 190111 - all cities vol by city.jpg

Phoenix is far and away the leader of the Greater Phoenix Area, with 3-10 times (or more) the number of sales as most other suburbs. Mesa is the 2nd largest suburb, followed by Scottsdale, Gilbert, Chandler, and Glendale.

You’ll notice the East Valley cities typically have more volume than their West Valley counterparts, but there are also more West Valley cities dividing up the land. Overall the sales volume in the East and West Valley is fairly similar.

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- Chris Butterworth

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Simple MLS Charts is supported by readers like you. If you find these charts useful, please consider becoming a patron with a small monthly pledge on Patreon.

* All chart data represents single-family detached homes only. Information is believed accurate but not guaranteed.

 

Surprise prices surge higher in November

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..

  • We’ve seen this trend and the opposite trend across the West Valley this month in Glendale, Peoria, and Avondale.

So, while the trend in Surprise is upward, I would take this huge percentage increase with a grain of salt.

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- Chris Butterworth

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Simple MLS Charts is supported by readers like you. If you find these charts useful, please consider becoming a patron with a small monthly pledge on Patreon.

* All chart data represents single-family detached homes only. Information is believed accurate but not guaranteed.

 

Surprise sales volume stays relatively flat

The number of homes that sold in Surprise during the 3rd quarter this year was down slightly from Q3 2017, about 3% year over year. But that’s coming off the back of Q2’s slight increase year over year. Overall it looks like the numbers are changing more lately from seasonality than from a change in buyers’ and sellers’ behavior.

All that being said, the stock market was down in October, and this is the first we are starting to hear about higher interest rates having an impact on the overall market. We’ll have to see what happens over the coming months…

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- Chris Butterworth

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Simple MLS Charts is supported by readers like you. If you find these charts useful, please consider becoming a patron with a small monthly pledge on Patreon.

* All chart data represents single-family detached homes only. Information is believed accurate but not guaranteed.