Currently there are 1936 active listings showing that inventory is up slightly from Aug 2008. The current absorption rate or supply of homes in Queen Creek is 5.8 months.
For the month of Aug 2008
New Listings: 605
Pending Sales: 355
Sold Homes: 332
Queen Creek Real Estate- Listing Status Aug 2008
The average sales price for homes in Queen Creek decreased about 12%the month of Aug from $167k to $148k.
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 1936 active listings, 340 are bank owned/foreclosures and 638 are 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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