Currently there are 1882 active listings showing that inventory is about the same from July 2008. The current absorption rate or supply of homes in Queen Creek is 5.0 months.
For the month of Aug 2008
New Listings: 614
Pending Sales: 348
Sold Homes: 374
Queen Creek Real Estate- Listing Status Aug 2008
The average sales price for homes in Queen Creek increased slightly in the month of Aug from $167k to 168k.
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 1882 active listings, 280 are bank owned/foreclosures and 621are 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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