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Home Homes in Cortina, Queen Creek AZ are Selli...

Homes in Cortina, Queen Creek AZ are Selling Like Hot Cakes!

Whilst preparing my monthly sub-division analysis reports I am continually amazed at the numbers I see being produced for the sub-division of Cortina in Queen Creek. With the current economical situations and housing turmoil constantly in the news, you would be lead to believe that nothing is selling and the housing market is frozen solid, but not in Cortina and its surrounding neighborhoods such as Power Ranch in Gilbert just across the road. In Cortina there is only a 2.6 month supply of homes. Now a 2.6 month supply means nothing unless you know that a 3 month or less supply is a classed as a sellers market, a 3 to 6 month supply is a balanced market and 6 month or more supply is traditionally deemed to be a buyers market.

Cortina is a master planned community developed by Fulton Homes located on the east side of Power Road south of Germann road with prices starting at under $200,000 and going up to the $500,000's for over 4000 sq.ft with a basement 3 car garage and pool.

Below are the stats I pulled for Cortina today that compares year on year data.

There were a total of 91 closed sales from April 1st to September 30th in 2008 compared to 36 from April 1st of 2007 to September 30th of 2007. The average selling price for that period was $264,282 compared to an average selling price of $367,468 for the same period in 2007, a percentage drop of 28%. The average sales price per square foot was $94.47 compared to $137.59 for the same period in 2007. The average number of days a house was on the market was 81, compared to 119 days for the same period in 2007. Currently there is a 2.6 month supply of inventory with 39 houses on the market for sale as of 10/17/2008. With prices down so low in Cortina it is a great time to buy!

You can find more statistics on our web site for the east valley cities of Chandler, Gilbert, Mesa and Queen Creek at www.PhoenixHomeKey.com or search the area via map to locate homes currently for sale.

Posted Monday Oct 20