Currently there are 1868 active listings showing an slight increase in inventory from last June 2008. The current absorption rate or supply of homes in Queen Creek is 4.8 months.
For the month of July 2008
New Listings: 602
Pending Sales: 454
Sold Homes: 383
Queen Creek Real Estate- Listing Status July 2008
The average sales price for homes in Queen Creek decrease in the month of June from $174k to 167k.
Foreclosures and Short Sales in Queen Creek
The number of homes for sale in Queen Creek continue to be dominated by foreclosures and short sales. From a quick glance a the statistics in MLS, of the 1868 active listings, 740 are bank owned or short sales, however as I suspected, when looking at listings that were not tagged as SS or REO, I noticed several that should be classified as such. The data is only as good as the agent that enters it in the system, so I suspect the percentage of homes for sale in Queen Creek that are foreclosures or short sales is much higher.
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