Maricopa & Pinal County Real Estate Blog

The average price per square foot jumped 4.1% from the previous month.  Sales volume is increasing as inventory remains high.  Foreclosures continue to flood the market with banks slashing prices to rock bottom levels.  The avg ppsqft in February 2008 was $80.27 in the Pinal County portion of Queen Creek.  Investor activity has increased with the best deals receiving multiple offers.  Prices have dropped 43% from their peak in March of 2006.  Is the market at a bottom?  Builders have scaled back production and have reduced standing inventory.  The majority of the current activity is in the Foreclosure Market.  Short Sales are also on the rise.  The market remains slow for regular resales.  Population growth continues to be very strong.  The rental market has also picked up significantly from previous years.