Single Family Homes in Queen Creek/San Tan Valley

By
Real Estate Agent with Value Added Service, 602-620-2699 SA5376460000

Much like the rest of the Phoenix Metro Area, Queen Creek has experienced a big decline in inventory.  Year over year, active listings are down 73%!  During the beginning of the shut down for the pandemic, the increased inventory is obvious but the continued downward trajectory made up for the increase.  New listings for 2021 are sluggish at best.

Active Listings in Queen Creek 85140 and 85142

The Median List Price in Queen Creek/San Tan Valley is currently $399,000 - up from $300,000 in January, 2020! 

Median Sales Price 85140 85142

 

Considering the Median Price is $399,000, it's interesting to see how many sales are selling over list price.  Check out these numbers!  HUGE demand in the Queen Creek/San Tan Valley area. 

Closings Over List Price 85140_85142

 

Considering there is low inventory and buyers are paying over list price, it stands to reason that if all the current inventory sold, they'd be out of homes in 2 weeks! 

Months Supply Queen Creek/San Tan Valley

Prices have risen 18% for 2020 in Queen Creek!  Check out this chart.  The price per square foot for a home sold in Queen Creek in January, 2020 was $156.87.  

Under Contract List Price per Square Foot Queen Creek

 

It's easy to see in this next chart that 2020 was the highest volume sales year EVER in Queen Creek.  Part of the reason for the explosive sales is more homes.  Queen Creek construction has picked up tremendously with many new home subdivisions.  Land is less expensive making homes less expensive pushing growth in this area.  

Sales per Year Queen Creek 2020

With this boost in population in the Queen Creek area, the roads and travel times are up for an improvement!  

Route 24 to Queen Creek

 

These reports provided by The Cromford Report.  Please don't duplicate as these are by subscription and all Rights are Reserved! 

About the Cromford Report:

 

"The Cromford Report ...

is owned and produced by Cromford Associates LLC, an Arizona limited liability company managed by Mike Orr and based in Mesa AZ.

Mike holds a masters degree in Mathematics from the University of Oxford in England and spent 31 years in the computer industry, working for IBM, Amdahl, Splash Technology and the Santa Cruz Operation. In his most recent positions he was President of Tarantella and CEO of Mobilearia.

He first started investing in real estate in 1976 and left the computer industry to focus on real estate in 2002."

 

 

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HomeSmart Elite Group                                  

8388 E Hartford Dr., Suite 100

Scottsdale, AZ 85255                                                         

(602) 620-2699   DIRECT

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Comments (7)

Anna Banana Kruchten CRS, CRB, Phoenix Broker
HomeSmart Real Estate BR030809000 - Phoenix, AZ
602-380-4886

Hi Jan - another excellent market report.  Crazy low inventory at 73% makes things interesting!

Jan 16, 2021 03:52 PM
Debb Janes EcoBroker and Bernie Stea JD
ViewHomes of Clark County - Nature As Neighbors - Camas, WA
REALTORS® in Clark County, WA

Hi there Jan - the inventory levels seem pretty universal. Wow, wow. 

Jan 16, 2021 04:16 PM
Richard Weeks
Dallas, TX
REALTOR®, Broker

Thanks for sharing your market update.  Great information for buyers and sellers in your area.

Jan 17, 2021 01:49 AM
Jan Green
Value Added Service, 602-620-2699 - Scottsdale, AZ
HomeSmart Elite Group, REALTOR®, EcoBroker, GREEN

Thanks Anna Banana Kruchten CRS CRB, Phoenix Broker !  I have a buyer looking at new-builds in Queen Creek.  Crazy competition! 

Jan 17, 2021 09:24 AM
Jan Green
Value Added Service, 602-620-2699 - Scottsdale, AZ
HomeSmart Elite Group, REALTOR®, EcoBroker, GREEN

Yes it is so low everywhere Debb Janes EcoBroker and Bernie Stea JD !  We're tripping over each other!

Jan 17, 2021 09:25 AM
Jan Green
Value Added Service, 602-620-2699 - Scottsdale, AZ
HomeSmart Elite Group, REALTOR®, EcoBroker, GREEN

Thank you Richard Weeks ! I bet you're seeing crazy numbers, too.  Visited my daughter in Frisco before Christmas!

Jan 17, 2021 09:26 AM
Rocky Dickerson
Realty One Group - Las Vegas, NV
Superior Service!

Hello Jan Green great market report. Looks like a lot of activity.

Jan 17, 2021 02:19 PM

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