Queen Creek, AZ

The housing market in this ZIP code is currently categorized as Cooling. While the median listing price has shown appreciation over the past year, several key indicators suggest a moderation in market activity, including a decreased pending ratio and fewer new listings.

The median listing price, at $759,000, has experienced a modest month-over-month decline of 1.1% but remains 8.4% higher than the prior year. Active listings have marginally increased by 1.2% year-over-year, reaching 341 units. Concurrently, new listings have decreased by 10.3% over the past year, totaling 104. The median days on market has extended to 71 days, representing a 6.0% increase from the prior year. The share of price-reduced listings is 31.5%, up 0.7% over the past year. The pending ratio stands at 0.32, a 9.0% decrease from the prior year, with 108 pending listings.

The decrease in the pending ratio, alongside an increase in days on market and a rise in price-reduced listings, indicates that buyers are encountering less immediate pressure. This suggests a shift towards a more measured pace of transactions, potentially allowing for greater price discipline among purchasers and a slightly less constrained inventory environment.

The average listing price of $997,820 significantly exceeds the median listing price of $759,000, suggesting a robust upper segment within the market. The median price per square foot is $272.