Tue May 18 2021
This week the median list price for Cave Creek, AZ is $1,100,000 with the market action index hovering around 68. This is less than last month's market action index of 69. Inventory has increased to 66.
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
|Median List Price||$1,100,000|
|Median Price of New Listings||$849,450|
|Per Square Foot||$358|
|Average Days on Market||132|
|Median Days on Market||18|
|Strong Seller's Market|
While this week the median didn’t fluctuate much, we are relatively close to the market’s price high-point. 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|
|$2,499,999||5,304||5 - 10 acres||4||4||20||1||1||73|
|$1,392,000||3,764||1 - 2.5 acres||4||3||2||5||4||21|
|$949,000||3,063||1 - 2.5 acres||4||3||23||6||4||14|
|$600,000||2,062||8,000 - 10,000 sqft||4||2||24||10||6||0|