You've likely heard by now the real estate market in Queen Creek, San Tan Valley and the surrounding areas has heated up a lot, like the weather this May! What you may not know is what that means for you... so The Drew Team wanted to give you some facts to know, options to consider and ways to make the most of this market.
The first important fact is that there ARE homes available to purchase! In Queen Creek & San Tan Valley today there are over 450 homes for sale under $500,000. The second fact to know is that there are over 500 homes under contract (agreed to terms). And in the last 6 weeks over 600 transactions were actually completed... "SO WHAT?" you ask.
For those numbers to have meaning you need to know that in a balanced market, where buyers and sellers have equal power, typically it would take 3-4 months to sell through the available homes. In our current market with 450 homes for sale our inventory would sell through in about 1 month. This is a sellers market because of that fact.
What does that mean for sellers? Good question! It means that there are buyers looking and the average time on the market for a priced properly home is about a month. So they can expect to sell for close to the asking price. It also means an agent who has experience, can price properly and market the home well will get them top dollar.
What does that mean for a buyer? DON'T PANIC! It means there are homes but there is competition for many of them. So, they need an agent who understands the market, can negotiate well and will be available to help them make that offer on the home they want quickly.
Finally I want to address the "summer slowdown" you might hear about... it is a myth! Seriously, in the 12 calendar months, throughout the Phoenix valley our transactions fluctuate less than 20% from the high to the low month. Combine that with somewhat low inventory and it means this: if you are buying or selling in the next year there is no reason to wait because our market is relatively consistent.
If you are considering selling, wanting to move up or maybe are a 1st time home buyer, what all this means is that you should be prepared and have a professional on your side that has experience AND expertise to help you make the most of your time, your money and reach your goals. So you may want to look around the website a little and see some of the tools, reviews and experience we can leverage to help get where YOU wan to go.