Queen Creek, Arizona Residential Market Update - November 2024

As we dive into the Queen Creek, Arizona real estate market statistics for November 2024, there’s plenty to unpack. This vibrant area continues to see a dynamic housing market, showing both opportunities and challenges for buyers, sellers, and investors alike. Here’s a breakdown of the key metrics and what they mean for you:

Market Highlights

1. Active Listings Are Up by 23.8%

• There were 400 active listings this November, compared to 323 in November 2023.

• What it Means: With more homes on the market, buyers have a wider selection to choose from. However, increased competition may require sellers to price their homes competitively and enhance their marketing efforts.

2. Sold Listings Increased by 1.3%

• A slight uptick in sold listings, rising to 78 this year from 77 last year.

• What it Means: Despite more listings, the increase in sales suggests steady demand in the Queen Creek area, signaling a balanced market.

3. Months of Supply Grew by 22.3%

• Supply increased to 5.13 months, up from 4.19 months in November 2023.

• What it Means: This metric reflects a shift toward a more neutral market, giving buyers more time to make decisions without feeling rushed.

4. Median Sale Price Per Square Foot Up by 1.1%

• The median price per square foot reached $266.08, compared to $263.16 last year.

• What it Means: Home values are holding strong, demonstrating the enduring appeal of Queen Creek’s residential offerings.

5. Median Days on Market Jumped by 51.0%

• Homes now stay on the market for 77 days, compared to just 51 days in November 2023.

• What it Means: Sellers may need to be patient, as homes are taking longer to sell. This emphasizes the importance of effective staging and strategic pricing.

What This Means for You

For Buyers:

With more inventory available and homes staying on the market longer, this could be an ideal time to negotiate and find your dream home. However, the steady price growth suggests acting sooner rather than later to avoid paying higher prices down the line.

For Sellers:

The increased competition and extended time on the market mean it’s crucial to make your property stand out. Highlighting unique features, pricing appropriately, and working with an experienced realtor can make all the difference.

For Investors:

Queen Creek’s steady price appreciation and growing inventory offer opportunities for long-term investments. Pay attention to areas with high growth potential and emerging community developments.

The Big Picture

Queen Creek remains a thriving and sought-after area for homeowners and investors alike. With its unique blend of small-town charm and modern amenities, the market continues to attract attention, even amid subtle shifts in market dynamics.

If you're looking to navigate this ever-evolving market, partnering with a local real estate expert can help you achieve your goals. Whether buying, selling, or investing, make informed decisions backed by the latest market data.