Here’s a quick hit on stats for Queen Creek real estate in respect to buyer activity in the market.
33.7% of the properties currently for sale in the Queen Creek real estate market are currently under contract!
This is an amazing figure and one that we haven’t seen in years as the graphs show. Overall, one has to watch these trends closely as in some sense, Queen Creek is working toward a critical mass in activity. A portion of the activity may be due to recent auctions for foreclosed properties, but overall this is quite a positive development.
Available Queen Creek Homes
Notice that available inventory is the lowest it has been since the end of 2006! Although recent auctions may have contributed to the improvement in inventory more recently, it is critical to reflect that the dip in inventory is not due to listings cancelling or expiring in the system, but that the dip is due to an increase in buyer demand.
Queen Creek Homes Under Contract for Sale
The 2009 curve clearly is on a very positive trajectory in terms of Queen Creek homes for sale currently under contract. Though this curve cannot sustain over time and should begin to soften and arch downward gradually, the overall trend is very positive. As well, notice the 2008 curve and that the trend since earlier 2008 simply has been a stronger level of overall buyer demand in the Queen Creek real estate market.
Queen Creek Home Sales
Most importantly, we want to see actual sales figures for Queen Creek. What they tell us is that 2008 fared substantially better than earlier years in terms of the number of transactions. As well, though the 2009 curve looks slightly down from the end 2008 curve, if we can assume that the beginning part of the year does more poorly and then picks up rapidly as we move into the March to May timeframe, then 2009′s short term trend could easily eclipse that seen for 2008. Given the heightened Pending sales activity in the graph above this one, there is a solid pipeline of future sales that gives this notion credibility.
Queen Creek Real Estate Outlook
Overall, it looks like solid buyer demand is propelling heightened activity in the Queen Creek real estate market right now. Hopefully, these trends will continue. Whether the trends get to a point that suggests that buyers are ready to absorb any worthy properties when they come on the market or not has yet to be seen. However, the level of activity and the length of these curves shows promise for Queen Creek’s market and may signal that prospective buyers may need to move very rapidly on any properties that present a great value and be more prepared to pay asking prices for the homes.
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