Mon Mar 01 2021
This week the median list price for Cave Creek, AZ is $1,200,000 with the market action index hovering around 57. This is an increase over last month's market action index of 53. Inventory has held steady at or around 47.
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
|Median List Price||$1,200,000|
|Per Square Foot||$339|
|Days on Market||49|
|Strong Seller's Market|
Prices hit another all time high this week. Given current conditions, prices continue to march higher. A persistent drop of the Market Action Index into the Buyer’s zone will be a leading indicator of the price strength subsiding.
Each segment below represents approximately 25% of the market ordered by price.
|Median Price||Sq. Ft.||Lot Size||Beds||Bath||Age||New||Absorbed||DOM|
|$2,400,000||4,473||5 - 10 acres||4||4||20||2||2||112|
|$1,390,000||3,307||2.5 - 5 acres||3||3||7||0||2||129|
|$1,156,500||3,490||1 - 2.5 acres||4||3||19||4||5||45|
|$597,500||2,279||0.25 - 0.5 acre||3||2||25||6||9||3|