Want to sell your Queen Creek home for the maximum return? It is important to understand the Queen Creek real estate market and why buyer demand is high. The market all over the valley has experienced exponential growth in 2020. In September 2020, Queen Creek had an average sales price of $467,652 which is up an incredible 25.52% from September of 2019 which was $372,561. YTD numbers are an average sales price of $420,650 which is still 14.10% higher than last YTD of $368,675. All things considered, we are still in a sellers market due to the high absorption rate. In general terms, this means that if no new homes come on the market we would sell out of homes in less than a month and a half.
Many people are talking about a looming housing crisis. While similar pricing concerns did occur during the last housing crisis, the supply of homes did not appear to be accurately reported. The last housing crisis showed decreasing rents due to the number of vacant units. Currently, we are experiencing higher rents and a demand for more rental units. This seems to indicate that there is a true shortage of inventory. People are also working remotely due to the pandemic and are not tied to being close to big cities. They are searching for more rural areas as indicated in this NPR article. Labor and materials are also at an all time high due to not enough being available for builders to meet their demands.
In conclusion, low inventory and the shortage of materials along with rising rents indicate that this is a true sellers market. The market has been experiencing bidding wars on homes with appraisals not quite catching up with the sharp increase on pricing. With the right strategy, well qualified buyers are still able to find homes. This does require the ability to qualify without seller concessions and possibly the ability to pay over appraised value. Speak with one of our local experts to go over the right strategy that will work for you.
If you are looking to sell at our historic high Queen Creek real estate values, it is important to get the right agent to represent you. Our 14 step marketing plan has been proven to find the best qualified buyers and achieve the maximum return on your home. Contact us today for Real Local Experts, Real Advice, and Real Service at (480) 861-1658!
Brokered by HomeSmart Lifestyles, Equal Opportunity Housing. Information obtained from ARMLS® COPYRIGHT 2020
