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How is the Queen Creek San Tan Valley Real Estate market?

 

I will go on record saying the market appears to be very stable right now.

 

As a whole there are currently 19,553 active listings the Phoenix market. There are roughly 1,100 active listings in the Queen Creek and San Tan Valley area. That does not include new construction.

sold sign flickr Diana ParkhouseI don’t have a good source for San Tan Valley new builds other than driving around so it’s hard to get stats that way. As for Queen Creek there are currently 32 subdivisions building new homes. Of those 32, there are 352 floor plans to choose from. There are also 28 inventory homes that are completed waiting for a buyer.

 

How are rates?

This is really one of the toughest questions. If you are comparing to recent record lows the rates are up. However if you are comparing them to a 30 year average they are still historically low. As of right now according the Wells Fargo the going rate for FHA is 4.0% and conventional is 4.125%. So if you are comparing it to 3.35% in December of 2012 rates are still pretty good, but if you are comparing it to 16.32% in April of 1980, rates are AWESOME right now.

 

How are prices?

If we are comparing to last year at this time sales and prices are up.

 

SoldAvg. PriceAvg. Sq. feetAvg. per Sq. FtDays on market
20142,292$235,4432,238$103.6382
20152,566$247,4652,266$107.5187
DifferenceMore soldHigher $Larger Sq FtHigher $ Sq FtLonger

 

So as you can see home values are higher as well as a trend towards larger homes. It is taking a little longer to sell.

 

What’s really hot right now?

Well besides the temperature, I would say fix and flips are still really hot. I will give you my humble 2 cents on it; I feel that there is not a very good profit margin like there was in the past. We are seeing a lot less of these homes on the market simply due to the investors not wanting to settle for so little profit at such a high risk. The demand for these properties is still huge. It seems that most buyers in the market now are looking to buy turn key properties. They would like to simply just move their stuff in and hang some pictures. Speaking of temperatures, homes with pools under $200,000 are still smoking hot. It seems like 90% of my leads in the last 2 months have been looking for these homes. It seems like in the summer No pool = No deal. I feel that this will also carry into the next few months. Most of our winter visitors that are looking for winter homes or relocating all together have a pool at the top of their list.

 

 

For more information about Big Mike or RE/MAX Home Expert Realty, please visit www.DownHomeAZ.com or give Big Mike a call at (480) 720-0730