Surprise AZ Newest Real Estate Listings | Zillow (2024)

FAQs

Is Surprise AZ a good place to invest in real estate? ›

Surprise Housing Market Report Maricopa County, Arizona. Is Surprise, AZ a buyer's or seller's market? Since last year, Surprise has remained a Seller's Market. Surprise is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Arizona Housing Market Overview

In June 2024, home prices in Arizona were up 1.9% compared to last year, selling for a median price. On average, the number of homes sold was down 13.8% year over year and there were 8,428 homes sold in June this year, down 9,774 homes sold in June last year.

This $75 million Paradise Valley estate — dubbed the Palo Cristi Estates — claims to be the most expensive home ever listed in all of Arizona. WOW Luxury Properties purchased the land and partnered with Cullum Homes to make this dream property a reality. The house will feature 40,000 square feet of living space.

The billionaire purchased 24,000 acres outside of Buckeye in Arizona and an additional 2,800 acres in Buckeye.

Surprise has been a top 25 growth city every year since 2020 and ranked eighth in 2022. “The urban sprawl in the Phoenix area has caused people to move further away from the city center,” said Jesse Ashdown, U-Haul Company of Northwest Phoenix president.

Experts predict continued growth in home prices throughout 2024, reflecting overall market health. There is optimism that the market will remain stable without imminent signs of a crash.

As we move through 2024 and head towards 2025, we expect that rent prices will continue to rise, even if there are some brief downward fluctuations. The pace of growth may slow down, but not by much. New rental construction will ease the short supply and meet the demand of a growing population of renters in Phoenix.

Scottsdale, Arizona, has long been a favorite destination for high-end home buyers. With stunning desert landscapes, a booming economy, and year-round sunshine, the city has been a magnet for luxury buyers for decades. But in recent years, Scottsdale has seen an impressive 102% increase in millionaire residents.

1. Paradise Valley. With a median home price of $4,227,006 and a median rent of $3,452, Paradise Valley is the most expensive city on our list. Based on the growth in home prices in Paradise Valley over the last 3 years, it ranks No.

Where do most rich people live in Arizona? ›

Paradise Valley

Paradise Valley is the richest city in Arizona. Located in the northeastern Phoenix metropolitan area, this city is known for its close proximity to the heart of the state capitol – about ten miles from downtown.

This West Valley suburb is booming with residential growth. Due to its large and undeveloped land mass, new communities are springing up all over Surprise. Unlike other landlocked Phoenix metros, Surprise still has plenty of room to spare, making it appealing for new homeowners and businesses alike.

The current real estate market conditions in Arizona are becoming favorable for home buyers. Here's how: Lower Mortgage Rates: The interest rates for home loans have decreased to 7.01%, marking a decline from approximately 8% in the preceding year of 2023.

If you're looking for a safe and thriving city to raise a family, Surprise, Arizona, is a good choice. Surprise has consistently ranked as one of the safest places in the country. The violent crime rate is low compared to surrounding cities, and the overall crime rates are below the US national average.

According to the Area Vibes website, Surprise is 32% below the national average in crime rates. Even better news for those retiring in Surprise, the violent crime rates are 77% below Arizona's average and 83% below the national average. Is Surprise AZ a good place to live crime-wise? YES!