The median home value in Queen Creek, AZ has increased $54,620 between October of 2013 and July of 2014. That’s about $40,000 more than price increases of other Arizona cities. That is great news for home owners because your home is worth more than it ever has been since the boom ended in 2006.
But is the Housing Bubble About to Burst… Again?
Despite the rumors, this is why Queen Creek is most likely NOT in a housing bubble.
Most home owners are here to live in their homes. The high demand from homes over the last couple of years has created a low supply of homes for sale causing prices to increase rapidly. But this is changing and prices may be leveling off.
As prices have increased so has the inventory of homes for sale. This is nothing to freak out about right now because it looks like the inventory of homes for sale are at healthy levels necessary to maintain current prices. But with the slow season coming up through the holidays we may see a little dip in prices until the inventory of homes levels off or decreases.
How Many Days Does It Take To Sell A Home In Queen Creek Right Now?
If you would’ve sold your home in October of 2013 you could’ve expected to sell it in around 45 days for a median price of $205,000. Now the average days on market before a home goes under contract is 93 days with a median sale price of $260,000. So the market is slower, but prices are much higher.
Here’s my quick plug… I can sell your home in 29 days at or above market value by doing a massive marketing blitz before your home goes on the market. If you are interested in finding out more contact me and we’ll start by getting you the pinpoint value of your home for free.
Any questions about the direction of the real estate market? Leave a comment below.