In looking at buying and selling in any Arizona market, it is important to look at the analyses provided by experts in the field. Surprise AZ real estate is somewhat different than other areas in the Phoenix Metro area, so I will provide information on Surprise homes for sale in various zip codes as well as an overall look.  The Credit Suisse Report is a good look at the overall area. Reports based on Surprise mls listings zip codes and other areas based on their zip codes will provide more detail. Many homes for sale in Surprise as well as Surprise Condo sales are distressed. Distressed homes are either being sold as short sales or as bank owned (REOs). With this in mind you will see that market values are very low and frankly the banks know that and are not moving down from their prices very much. The analysis shows this with fairly stable prices over the last 2 quarters. Give me a call at 623-606-8861 or email me at info@mikehortonrealty.com if you would like to buy or sell real estate in Phoenix West Valley and Surprise Arizona.

This is a recent chart showing inventory levels and the months of inventory for the Phoenix West Valley real estate market. Since this covers the whole valley it can be used to approximate the market for Surprise home sales as an example. In the last several years we have seen a significant reduction of the number of homes on the market and the length of time they remain on market.

This chart reflects the home sales year over year in Surprise Az. Home sales in Surprise Az have stablized in terms of numbers and sold prices as shown when reviewing the data. Possibly the biggest news is that in 2009 offers were coming in slightly above list price and in 2010 it is slightly below. This seems to be a very small difference and I believe it supports the trend of banks to refuse to sell bank owned homes and to approve short sales that are well below market. Home sales in Surprise are much more likely to have sold prices close to market pricing. Low ball offers are out.