Pango Group

Cave Creek, AZ

Single-Family Homes

www.pangogroup.com


Cave Creek, AZ

Thu Oct 24 2024
This week the median list price for Cave Creek, AZ is $1,269,999 with the market action index hovering around 33. This is less than last month's market action index of 34. Inventory has increased to 183. 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.

Slight Seller's Advantage

Market Narrative

Market appears to have begun to cool. As we’re still notably in a Seller’s market, prices have not yet adjusted. If the market continues to cool, then expect prices to follow lower. It may take a few more weeks of slack demand for prices to reflect and begin to fall. Expect this condition if the index falls to the Buyer’s zone.

Cave Creek, AZ

Thu Oct 24 2024
This week the median list price for Cave Creek, AZ is $1,269,999 with the market action index hovering around 33. This is less than last month's market action index of 34. Inventory has increased to 183. 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.

Slight Seller's Advantage

Market Narrative

Market appears to have begun to cool. As we’re still notably in a Seller’s market, prices have not yet adjusted. If the market continues to cool, then expect prices to follow lower. It may take a few more weeks of slack demand for prices to reflect and begin to fall. Expect this condition if the index falls to the Buyer’s zone.

Real-Time Market Profile

Never miss important changes in the Cave Creek market.
Median List Price $1,269,999
Median Price of New Listings $900,000
Per Square Foot $406
Average Days on Market 117
Median Days on Market 77
Price Decreased 43%
Price Increased 2%
Relisted 4%
Inventory 183
Median Rent
Market Action 33
Slight Seller's Advantage

The market continues its bounce again this week. We’re a long way from the market’s high point so watch the Market Action Index as a leading indicator for how long this trend will last.

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
$2,599,000 4,573 2.5 - 5 acres 4 5 10 2 2 98
$1,524,997 3,490 1 - 2.5 acres 4 4 18 3 4 77
$992,500 2,733 0.25 - 0.5 acre 4 3 24 6 3 87
$650,000 2,045 6,500 - 8,000 sqft 3 2 25 8 7 42