Queen Creek Market Report – May 2012

As a Realtor living and working in the Phoenix Metro Area I am often asked what parts of the Valley are selling well? All real estate markets are local. Local meaning specific neighborhoods, subdivisions or zip codes and most often that is the market data that I supply to my clients. However, sometimes it’s beneficial to look at larger areas to identify trends that might not be so easily found in smaller samples.

In this market report we’re looking at Queen Creek, AZ 85127, 85140, 85142, 85143, 85227, 85240, 85242, 85243, 85218.

Queen Creek homes for sale

 

 

 

 

 

 

 

 

 

 

 

 

The Queen Creek real estate market is on fire and it’s not just one or two neighborhoods or zip codes. In all nine zip codes, 85127, 85140, 85142, 85143, 85227, 85240, 85242, 85243, 85218 there are only 134 total active listings for single family detached homes. 105 of those actives are traditional sales leaving only 29 Lender Owned or Short Sale listings.

One surprising stat is Lender Owned (REO) Dollars Per Square Foot Solds are down 11.2% month over month. I believe one of the reasons for this downturn in that most of the lender owned properties in Queen Creek are HUD homes.

Short Sale Dollars Per Square Foot Solds are up 10% over the past 8 months but unchanged month over month.

Traditional (Normal) Dollars Per Square Foot Solds are up 9.6% month over month, and Traditional (Normal) Active listings are up 5% month over month.

What does all this mean to buyers and sellers in Queen Creek, AZ?

Prices are rising, REO and Short Sales are being absorbed faster than predicted a year ago and the demand for homes is increasing. Home builders in some parts of the Queen Creek are on their second or third price increase in the last 9 months.

If you’re going to buy a home in the Queen Creek area in 2012 buy it now. Prices will continue to rise and while there is a smaller

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inventory there are still great homes out there for sale.

If you are going to sell your Queen Creek home in 2012 list it now. Fewer competitors means a better chance of getting fair market value for your home.

If you need to sell your home and move into a larger home this is the time to do so. I believe 2012 is going to be a year we talk about in the future as a year of great opportunity. Consult with your Realtor, they’re there to help you. If you don’t already have a Realtor give me a call, the consultation is free and there is no obligation.

Whether you are buying or selling a home in Queen Creek, AZ I offer a free, Market Report. As an informed buyer or seller you’ll make better decisions. E-mail Nancy@NancyLaswick.com or call me today at (602) 793-1627.

All content in this post is protected by copyright. © Nancy Laswick 2012. All Rights Reserved.

Please Note:All statistics and figures are reported from the Arizona Regional Multiple Listing Service (ARMLS) and/or The Cromford Report and are deemed to be reliable, but cannot be guaranteed for accuracy. It is recommended that any information of special interest be verified through independent sources.