June 2026
The Surprise housing market continued to stabilize in June as inventory declined and buyer demand remained steady. While home prices remain modestly below last year’s levels, the continued reduction in available listings suggests the market is gradually becoming more balanced. The rental market also showed encouraging signs, with fewer available homes and modest rent growth compared to a year ago.
Sales Market Highlights
- Active Listings: 1,213 (8.9% decrease YoY)
- Median Sold Price: $222.52 per SF (3.5% decrease YoY)
- Average Days on Market: 72 days (14.3% increase YoY)
- 30-Year Mortgage Rate: 6.49%
Housing inventory continued to tighten throughout June, providing buyers with fewer options than they had a year ago. While home values remain slightly below 2025 levels, the decline has moderated in recent months. Homes are taking longer to sell than last summer, giving buyers additional time to evaluate properties and negotiate favorable terms.
Rental Market Highlights
- Active Rental Listings: 186 (16.2% decrease YoY)
- Median Rent: $1.14 per SF (2.2% increase YoY)
- Median Days on Market: 28 days (9.8% increase YoY)
Surprise’s rental market continues to strengthen. Rental inventory declined significantly compared to last year while rental rates moved higher, a positive trend for landlords. Although homes are taking slightly longer to lease than they did a year ago, a median leasing time of just 28 days reflects continued healthy tenant demand.
Key Takeaways
- 📉 Home inventory declined 8.9% compared to last year.
- 🏡 Median sold price measured $222.52 per square foot, down 3.5% year over year.
- ⏳ Homes averaged 72 days on market, 14.3% longer than last year.
- 💰 Mortgage rates remained relatively stable at 6.49%.
- 🔑 Rental inventory declined 16.2%, creating less competition among landlords.
- 📈 Median rent increased 2.2% year over year, a positive sign for rental property owners.
- 🏠 Rental homes leased in a median of 28 days, demonstrating continued healthy demand.
Overall Outlook
Surprise continues to offer an attractive combination of affordability and long-term growth potential. While the sales market has become more favorable for buyers due to longer marketing times, declining inventory suggests demand remains healthy. Rental property owners are benefiting from rising rents and fewer competing listings, helping maintain strong occupancy levels. As the West Valley continues to grow, Surprise remains an appealing market for both homeowners and long-term real estate investors.
May 2026
Sales Market
Active Listings: 1,305 (-6.2% YoY)
→ Inventory continues to tighten, giving buyers fewer choices than they had a year ago and signaling a healthier supply environment.
Median Sold $/SF: $220.67 (-5.6% YoY)
→ Home prices remain below last year’s levels, reflecting continued affordability pressures and buyer sensitivity to pricing.
Average Days on Market: 68 (+10.5% YoY)
→ Homes are taking longer to sell than they did a year ago, indicating buyers remain selective despite improving inventory conditions.
30-Year Mortgage Rate: 6.52%
→ Mortgage rates moved higher in May, continuing to weigh on affordability and overall buyer demand.
Rental Market
Active Listings: 184 (-8.0% YoY)
→ Rental inventory remains below last year’s levels, creating a tighter market for prospective tenants.
Median Rented $/SF: $1.23 (+5.1% YoY)
→ Rent prices posted solid year-over-year growth, suggesting improving conditions for landlords as supply tightens.
Median Days on Market: 29 (-3.3% YoY)
→ Rentals are leasing faster than they were a year ago, pointing to stronger renter demand heading into the summer season.
Key Takeaways
- Sales inventory continues to tighten across the market.
- Home prices remain below last year’s levels despite reduced supply.
- Buyers remain cautious, with homes taking longer to sell.
- Rental inventory continues to decline, supporting stronger market fundamentals.
- Rent growth has turned positive and leasing activity has accelerated.
- Higher mortgage rates remain the biggest headwind for the sales market.
Overall
Surprise’s May market highlights the growing contrast between the sales and rental sectors. The sales market continues to work through affordability challenges, with softer pricing and longer selling times despite declining inventory. Meanwhile, the rental market has strengthened considerably. Lower inventory, rising rents, and faster leasing activity indicate improving demand and healthier conditions for landlords. Overall, Surprise continues moving toward a more balanced housing market, with the rental sector currently showing the strongest momentum.
April 2026
Sales Market
Active Listings: 1,336 (-4.1% YoY)
→ Inventory has shifted below last year’s levels, signaling that the supply expansion seen earlier in the cycle is beginning to normalize.
Median Sold $/SF: $227.12 (-4.0% YoY)
→ Home prices remain below last year, suggesting buyers are still pushing back on pricing despite tighter inventory.
Average Days on Market: 70 (+16.7% YoY)
→ Homes are taking noticeably longer to sell, indicating buyers remain cautious and highly selective.
30-Year Mortgage Rate: 6.35%
→ Mortgage rates improved from March, providing a modest affordability boost heading further into the spring market.
Rental Market
Active Listings: 161 (-8.5% YoY)
→ Rental inventory remains below last year’s levels, creating a tighter supply environment for renters.
Median Rented $/SF: $1.17 (-2.1% YoY)
→ Rental pricing remains slightly below last year, though the decline has moderated compared to earlier months.
Median Days on Market: 31 (+19.2% YoY)
→ Rentals are taking longer to lease than last year, suggesting renter demand remains somewhat cautious despite tighter inventory.
Key Takeaways
- Sales inventory has tightened after earlier supply expansion
- Home prices remain under pressure despite lower available inventory
- Longer selling timelines indicate cautious buyer behavior
- Rental inventory remains lower than last year, supporting healthier supply conditions
- Rental pricing remains soft, though showing signs of stabilization
- Lower mortgage rates compared to March may help improve buyer activity moving into late spring
Overall
Surprise’s April market reflects a tightening but still price-sensitive environment. The sales market is seeing healthier inventory conditions, but buyers remain cautious, with longer selling timelines and continued pricing softness. The rental market also shows tighter supply, though softer rent pricing and slower leasing suggest renter demand has not fully strengthened. Overall, Surprise appears to be improving from a supply standpoint, but affordability remains a major factor shaping market behavior.