Fri Apr 23 2021
This week the median list price for Cave Creek, AZ is $1,390,000 with the market action index hovering around 68. This is an increase over last month's market action index of 62. Inventory has held steady at or around 52.
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
|Median List Price||$1,390,000|
|Per Square Foot||$343|
|Days on Market||28|
|Strong Seller's Market|
The market appears to be placing an increasing premium on homes. When list prices and price per square foot consistently increase in tandem, as they’re doing now, you can often find short-term investment opportunities. Watch the Market Action Index for persistent changes as a leading indicator for these trends to flatten or drop.
Each segment below represents approximately 25% of the market ordered by price.
|Median Price||Sq. Ft.||Lot Size||Beds||Bath||Age||New||Absorbed||DOM|
|$2,500,000||5,318||5 - 10 acres||5||4||24||2||0||133|
|$1,675,000||3,653||2.5 - 5 acres||4||3||9||1||1||56|
|$1,163,000||3,606||1 - 2.5 acres||4||3||22||4||0||63|
|$725,000||2,636||8,000 - 10,000 sqft||4||3||22||9||8||0|