First Arizona Title's Market Report

Cave Creek, AZ

Single-Family Homes

First Arizona Title Agency | (480) 385-6500 | www.FirstAZTitle.com



Cave Creek, AZ

Fri May 27 2022
This week the median list price for Cave Creek, AZ is $1,000,000 with the market action index hovering around 72. This is less than last month's market action index of 82. Inventory has increased to 93. Click here to stay informed with the Cave Creek market!

Market Action Index

This answers “How’s the Market?” by comparing rate of sales versus inventory.

Strong Seller's Market

The market has been cooling off a bit in recent weeks, as more homes are available and demand is less. We’ll be looking for a persistent downward trend. If we see a persistent trend, especially if the MAI falls from the Seller’s Market zone to the Buyer’s Market zone, expect downward pressure on prices. There is already some evidence prices moving lower.

Cave Creek, AZ

Fri May 27 2022
This week the median list price for Cave Creek, AZ is $1,000,000 with the market action index hovering around 72. This is less than last month's market action index of 82. Inventory has increased to 93. Click here to stay informed with the Cave Creek market!

Market Action Index

This answers “How’s the Market?” by comparing rate of sales versus inventory.

Strong Seller's Market

The market has been cooling off a bit in recent weeks, as more homes are available and demand is less. We’ll be looking for a persistent downward trend. If we see a persistent trend, especially if the MAI falls from the Seller’s Market zone to the Buyer’s Market zone, expect downward pressure on prices. There is already some evidence prices moving lower.

Real-Time Market Profile

Never miss important changes in the Cave Creek market.
Median List Price $1,000,000
Median Price of New Listings $795,000
Per Square Foot $385
Average Days on Market 32
Median Days on Market 14
Price Decreased 43%
Price Increased 3%
Relisted 8%
Inventory 93
Median Rent
Market Action 72
Strong Seller's Market

Again this week we see a downward notch for prices. Pricing has been weak in recent weeks and versus their absolute-high level. The Market Action Index is a good leading indicator for the durability of this trend.

Market Segments

Each segment below represents approximately 25% of the market ordered by price.

Median Price Sq. Ft. Lot Size Beds Bath Age New Absorbed DOM
$2,950,000 4,791 1 - 2.5 acres 5 5.5 17 5 1 21
$1,350,000 3,293 1 - 2.5 acres 4 3 9 3 1 28
$849,000 2,272 0.5 - 1 acre 3 2 27 9 5 7
$692,500 2,020 6,500 - 8,000 sqft 3 2.5 26 12 5 7