Your Localized Market Report
Cave Creek, AZ
Single-Family Homes
Lawyers Title Arizona & Grand Canyon Title Agency www.LawyersTitleArizona.com & www.gcta.com
Cave Creek, AZ
Thu Apr 25 2024
This week the median list price for Cave Creek, AZ is $1,225,000 with the market action index hovering around 33. This is about the same as last month's market action index of 33. Inventory has held steady at or around 185.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Slight Seller's Advantage
The market has started cooling and prices have been flat for several weeks. Since we’re in the Seller’s zone, watch for changes in MAI. If the MAI resumes its climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.
Real-Time Market Profile
| Median List Price | $1,225,000 | |
| Median Price of New Listings | $1,042,000 | |
| Per Square Foot | $402 | |
| Average Days on Market | 113 | |
| Median Days on Market | 70 | |
| Price Decreased | 51% | |
| Price Increased | 4% | |
| Relisted | 7% | |
| Inventory | 185 | |
| Median Rent | ||
| Market Action | 33 | |
| Slight Seller's Advantage | ||
The market seems to have paused around this plateau. 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 |
|---|---|---|---|---|---|---|---|---|
| $2,447,500 | 4,401 | 2.5 - 5 acres | 4 | 5 | 7 | 2 | 2 | 87 |
| $1,487,000 | 3,568 | 1 - 2.5 acres | 4 | 4 | 18 | 2 | 3 | 77 |
| $1,051,257 | 2,841 | 0.25 - 0.5 acre | 4 | 3 | 22 | 3 | 5 | 70 |
| $740,000 | 2,195 | 6,500 - 8,000 sqft | 3 | 3 | 25 | 5 | 6 | 42 |