Even though pending sales declined in June, home appreciations in Queen Creek are on the rise.
The median sales price rose 9.4% in June to $692,500, while the average sales price increased 4.5% to $772,410.
“Sellers are still achieving strong results, receiving an average of 97.8% of their list price,” said Sammy Glassman, board president of Phoenix Realtors, a local association for Valley Realtors. “These gains highlight the continued desirability of the community and suggest that buyers are willing to pay a premium for the lifestyle, space and amenities Queen Creek offers.”
Homes are rising in appreciation despite the fact that pending sales in June decreased by more than 42%, and the number of days a home remained on the market rose by 6.2% to 86 days from 78 in May.
“With homes taking an average of 86 days to sell, buyers have more time to evaluate properties, negotiate terms and make informed decisions than they did during the highly competitive markets of recent years,” Glassman said.
The inventory of homes for sale in June dropped by 3.2% to 605. In May, home inventory was at 619. New listings declined by 1.8% in June to 152 from May’s 167.
“Inventory remains relatively balanced at 4.5 months of supply, and with the number of homes for sale declining slightly, the market continues to avoid an oversupply situation,” Glassman said. “While the sharp drop in pending sales may signal a slower pace of activity in the months ahead, current inventory levels are helping support pricing.”
Queen Creek’s continuing appeal is rooted in newer housing stock, larger homesites and quality of life, Glassman said.
“As many buyers continue searching for more space and long-term value, Queen Creek remains one of the Valley’s most attractive destinations for families and professionals seeking a balance between lifestyle, affordability and access to employment centers throughout the Greater Phoenix area,” she said.
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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