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 Sep 19 2024
This week the median list price for Cave Creek, AZ is $1,155,000 with the market action index hovering around 34. This is an increase over last month's market action index of 33. Inventory has held steady at or around 161.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Slight Seller's Advantage
Market Narrative
Home sales continue to outstrip supply and the Market Action Index has been moving higher for several weeks. This is a Seller’s market so watch for upward pricing pressure in the near future if the trend continues.
Real-Time Market Profile
| Median List Price | $1,155,000 | |
| Median Price of New Listings | $950,000 | |
| Per Square Foot | $388 | |
| Average Days on Market | 119 | |
| Median Days on Market | 91 | |
| Price Decreased | 49% | |
| Price Increased | 1% | |
| Relisted | 8% | |
| Inventory | 161 | |
| Median Rent | ||
| Market Action | 34 | |
| 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 |
|---|---|---|---|---|---|---|---|---|
| $2,399,999 | 4,438 | 1 - 2.5 acres | 4 | 5 | 9 | 1 | 0 | 122 |
| $1,367,500 | 3,569 | 0.5 - 1 acre | 4 | 4 | 18 | 7 | 1 | 112 |
| $954,500 | 2,740 | 0.25 - 0.5 acre | 4 | 3 | 24 | 5 | 6 | 94 |
| $678,000 | 2,158 | 6,500 - 8,000 sqft | 3 | 2 | 25 | 7 | 7 | 70 |