Pango Group

Cave Creek, AZ

Single-Family Homes

www.pangogroup.com



Cave Creek, AZ

Sun Jul 14 2024
This week the median list price for Cave Creek, AZ is $1,050,500 with the market action index hovering around 32. This is an increase over last month's market action index of 31. Inventory has held steady at or around 188. 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

The market has been at a stasis point in terms of sales to inventory. However, prices seem to continue to fall a bit. Technically supply levels indicate this is a Seller’s market so it is likely that the downward pricing pressure will be light or variable.

Cave Creek, AZ

Sun Jul 14 2024
This week the median list price for Cave Creek, AZ is $1,050,500 with the market action index hovering around 32. This is an increase over last month's market action index of 31. Inventory has held steady at or around 188. 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

The market has been at a stasis point in terms of sales to inventory. However, prices seem to continue to fall a bit. Technically supply levels indicate this is a Seller’s market so it is likely that the downward pricing pressure will be light or variable.

Real-Time Market Profile

Never miss important changes in the Cave Creek market.
Median List Price $1,050,500
Median Price of New Listings $959,250
Per Square Foot $374
Average Days on Market 99
Median Days on Market 63
Price Decreased 55%
Price Increased 3%
Relisted 3%
Inventory 188
Median Rent
Market Action 32
Slight Seller's Advantage

Again this week we see a downward notch for prices. Pricing has been weak in recent weeks and versus their absolute-high levels. 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
$2,200,000 4,142 1 - 2.5 acres 4 5 10 4 6 112
$1,295,000 3,141 0.5 - 1 acre 4 3 18 2 3 77
$942,500 2,642 8,000 - 10,000 sqft 4 3 25 5 2 63
$675,000 2,182 4,500 - 6,500 sqft 4 3 25 5 4 42