Surprise Market Report
Welcome to the October 2022 Surprise, Arizona Market Report. Surprise is considered to be in the West Valley and has a population of 149,191. The average home price in the month of October for Surprise was $445,340, down only $826 from the previous month of September. The average lease price per square foot in Surprise listed on the MLS was $1.13 in October, down from $1.14 in September, showing that rent prices are mostly holding firm in the Surprise area.
The total number of Surprise homes sold in October was 192, down 23 sales from 215 in September. This has also been a common theme throughout the valley and is consistent with the time of year.
It took homes in Surprise an average of 61 days to go under contract in October, which is 16 days longer than it took in September, at 45 days. As you can see from the chart, Surprise has stayed relatively consistent from January 2021 through July 2022. August is really when we see the trend shifting upward, as it is a common theme throughout the valley.
Surprise is in line with the rest of the valley and has joined the Buyer’s Market Club. With a $445k average sales price, Surprise, Arizona, is among the most affordable cities in the Phoenix Metro.