Home sale prices in Queen Creek increased during June, rising even as the number of pending transactions fell. The median sales price climbed 9.4% to reach $692,500, while the average sales price grew 4.5% to $772,410.
Pending sales declined by more than 42% compared to the previous month. The time required for a home to sell also increased, with the average days on market rising 6.2% to 86 days, up from 78 days in May.
Sammy Glassman, board president of Phoenix Realtors, noted that sellers are still receiving an average of 97.8% of their asking price. She stated that the current market conditions allow buyers more time to evaluate properties and negotiate terms than in previous years.
The supply of homes for sale decreased by 3.2% to 605 units in June, down from 619 in May. New listings also fell, dropping 1.8% to 152 from 167 in May. Glassman described the inventory as relatively balanced at 4.5 months of supply, suggesting the market is avoiding an oversupply situation.
Glassman attributed Queen Creek’s appeal to its newer housing stock, larger homesites, and quality of life. She said the community remains attractive to families and professionals seeking a balance between affordability and access to employment centers in the Greater Phoenix area.
