The First American Title Market Report
Cave Creek, AZ
Single-Family Homes
Arizona Direct Operations
Cave Creek, AZ
Sat Sep 19 2020
This week the median list price for Cave Creek, AZ is $879,995 with the market action index hovering around 52. This is an increase over last month's market action index of 46. Inventory has held steady at or around 90.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
The market continues to get hotter. More sales demand and fewer homes listed have contributed to a relatively long run of increasing prices. Current supply and demand levels show no sign of prices changing from their current trend.
Real-Time Market Profile
| Median List Price | $879,995 | |
| Per Square Foot | $269 | |
| Days on Market | 167 | |
| Price Decreased | 29% | |
| Price Increased | 8% | |
| Relisted | 7% | |
| Inventory | 90 | |
| Median Rent | $2,975 | |
| Most Expensive | $3,995,000 | |
| Least Expensive | $394,900 | |
| Market Action | 52 | |
| 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.
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 |
|---|---|---|---|---|---|---|---|---|
| $1,671,500 | 4,513 | 2.5 - 5 acres | 4 | 4 | 15 | 5 | 2 | 361 |
| $992,450 | 3,450 | 1 - 2.5 acres | 4 | 3 | 21 | 6 | 5 | 112 |
| $775,000 | 2,897 | 0.25 - 0.5 acre | 4 | 3 | 9 | 5 | 4 | 166 |
| $495,000 | 2,144 | 8,000 - 10,000 sqft | 4 | 2 | 22 | 9 | 9 | 32 |