Rising interest rates, economic concerns and election uncertainty led to a sharp drop in single-family home closings in October in Queen Creek compared to the previous year.
Queen Creek recorded 98 single-family closings in October, down one-third from a year earlier, according to Phoenix Realtors, a local association for Valley Realtors.
“Pending sales fell nearly as sharply, down 49.2% to 67,” said Sammy Glassman, board president of Phoenix Realtors. “Even though new listings dropped 17.6%, the number of homes available edged up to 622. With fewer sales, that translated to five months of supply, up from 4.2 months last October.”
Meanwhile, home prices moved much less than sales volume. The median sale price rose 2.8% to $667,493, while the average price was nearly flat at $759,161.
“The year-to-date numbers show a similar pattern. Through October, closings were down 8.4%, while the median sale price was up just 0.6% compared with the same period in 2025,” Glassman said.
In October, the number of days a home was on the market in Queen Creek averaged 94 days on the market, a week less than a year earlier. That’s some good news for buyers.
“That still leaves sellers with a timeline of roughly three months to consider when planning their next move,” Glassman said. “Buyers have more homes to compare, and the fairly steady prices make recent sales of similar homes a better starting point for an offer than the drop in transaction volume alone.”
Across the Valley, closed deals last month dropped 17.9% year over year in October. Pending sales dropped 45.9%, and new listings slipped by 9% compared to last year.
“Single-family home sales took a big hit for the month,” Glassman said. “Interest rates, economic concerns and the upcoming election all combined to make it a tough month.”
Janet Perez can be reached at jperez@iniusa.org. Please send your comments about this article to AzOpinions@iniusa.org. We are committed to publishing a wide variety of reader opinions, as long as they meet our Civility Guidelines
Janet Perez News Editor | Queen Creek &
San Tan Valley
Meet Janet Janet Perez joined Independent Newsmedia as editor of the Queen Creek Independent and Florence Independent in 2020. She started her career in 1989 with the Gannett-owned El Paso Times. In 1992, she moved to Tempe and has worked in newspapers, magazines, radio and television. She left Arizona for three years to work at New Mexico State University and Baylor University before returning to work at Arizona State University. Missing the business, she went back to journalism in 2017.
Community: A long-time pet owner, she supports animal welfare causes.
Education: University of Texas at El Paso with a BA in journalism and a minor in political science.
Random Fact: She had a head full of random facts.
Hobbies: Reading, watching documentaries, cooking and playing with her dogs.
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