Currently there are 1973 active listings showing that inventory is up slightly from Oct 2008. The current absorption rate or supply of homes in Queen Creek is 7.0 months.
For the month of Nov 2008
New Listings: 533
Pending Sales: 293
Sold Homes: 281
Queen Creek Real Estate- Listing Status Nov 2008
The average sales price for homes in Queen Creek the month of Nov decreased ever so slightly from $148,286k to $148,239k.
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 1973 active listings, 369 are bank owned/foreclosures and 737 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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