Currently there are 1909 active listings showing that inventory is slightly up from Aug 2008. The current absorption rate or supply of homes in Queen Creek is 5.0 months.
For the month of Sept 2008
New Listings: 649
Pending Sales: 359
Sold Homes: 389
Queen Creek Real Estate- Listing Status Sept 2008
The average sales price for homes in Queen Creek increased slightly in the month of Sept from $168k to $175k.
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 1909 active listings, 292 are bank owned/foreclosures and 665 are short sales, however as I suspected, when looking at listings (the first 20 I checked) 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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