The median home value in Queen Creek, AZ decreased $13,000 in the month of August, 2014. Does this mean prices are going to continue to go down?
$13,000 is significant but it is not that big of a deal if you consider the large increase of Queen Creek home values this year outlined in my market summary last month. Also, a seasonal decrease in prices is common because parents are too busy to buy a house while they put their kids back in school and because winter visitors are no where to be seen until October.
So Should I Sell My House Now Before Housing Values Drop More?
As the gap on the graph to the left grows between the red and black line, so does the likelihood of price decreases. The red line shows that more and more Queen Creek homes are coming on the market for sale. The black line shows that about the same amount of homes are selling each month despite the increase of inventory. This is a negative sign but this is not an indicator that you need to fire sell your home. As I keep telling people, the market is NOT crashing. This is a normal cycle. Prices gradually go up like they have been for the past few years, and prices gradually flatten or decrease. The exception to the gradual cycle is when a catastrophic event, large interest rate change or bubble occurs.
Enjoy your home if you have a good, safe place to live. I don’t recommend selling unless you are not enjoying your home or think that another home will increase the quality of your life.
How Many Days Does It Take To Sell A Home In Queen Creek Right Now?
Last month the average home sold in 93.1 days. This month the average dipped to 89.6 days.
Find out how much your home is worth.
My automatic system will let you know the median value of your home. I’ll take a glance at the automatic valuation and also tell you the top dollar I think your home can sell for with a massive amount of marketing.
I do this as a free service to educate home owners like yourself because most of the time a home is is the biggest investment you will ever make in your life. It’s a good idea to keep track of it so you don’t get blind sided by a bubble like in 2006. You do NOT have to be interested in selling your home. There is no obligation at all, this is FREE.
Find out how much your home is worth now by filling out the form on the top right of this web page.
Best Wishes- Charles Cotter