Queen Creek’s housing market in May continued to show signs of strength despite economic headwinds.
“Queen Creek’s appeal remains strong because it offers what many families are seeking: newer housing, larger homesites, excellent schools, master-planned communities and a lifestyle that provides more space than many other parts of the Valley,”
said Sammy Glassman, board president of Phoenix Realtors, a local association for Valley Realtors.
Closed sales increased 2.4% year-over-year, indicating that people are still buying homes even if they are taking more time to weigh their options, Glassman said.
That careful consideration is reflected by the increasing number of days a home is on the market. In May, days on market rose nearly 15% to 78 days, giving buyers “greater leverage to negotiate terms, conduct due diligence and compare homes before making an offer,” Glassman said.
Another positive for homebuyers is a slight decline in median and average sales prices. The prices declined about 4%, giving buyers an opportunity to break into a market they may have been priced out of in the past.
“While prices have moderated, sellers are still receiving an impressive 98.8% of their asking price on average, indicating that well-priced homes continue to attract strong interest,” Glassman said.
Meanwhile, a whopping 24% drop in new listings “suggests that some homeowners are choosing to stay put rather than enter the market. This reduction in new supply is helping support home values despite softer buyer demand,” Glassman said.
“As affordability challenges continue across the region, Queen Creek remains an attractive option for buyers looking to maximize value while maintaining access to employment centers throughout the Greater Phoenix area,” Glassman 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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