Surprise Home Prices Keep Rising...

Surprise home prices keep rising, from the Arizona Republic, reports that this years average home price in Surprise was roughly $280,000, according to Realtor Mike Holloway, citing figures from the Arizona Regional MLS. The number is up from 2005, when the median home value was about $245,000. Halloway said he was surprised that home prices have continued to increase, since the number of local home sales declined from 4,154 last year to 1,951 so far this year. "Home prices are quite simply a supply-and-demand issue," he said. "We've had a huge increase in supply, so you would think we'd have a decline in prices in Surprise." Halloway said he believes that the steady Surprise market is a result of a "West Valley buzz" attracting residents to new sporting and cultural attractions like Cardinals Stadium and Heard Museum West.



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