The First American Title Market Report
Cave Creek, AZ
Single-Family Homes
Arizona Direct Operations
Cave Creek, AZ
Thu Jan 23 2020
This week the median list price for Cave Creek, AZ is $750,000 with the market action index hovering around 35. This is less than last month's market action index of 36. Inventory has held steady at or around 157.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Slight Seller's Advantage
The market has been cooling over time and prices have recently flattened. Despite the consistent decrease in Market Action Index (MAI), we’re in a Seller’s Market (where significant demand leaves little inventory available). If the MAI begins to climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.
Real-Time Market Profile
| Median List Price | $750,000 | |
| Per Square Foot | $245 | |
| Days on Market | 175 | |
| Price Decreased | 41% | |
| Price Increased | 4% | |
| Relisted | 4% | |
| Inventory | 157 | |
| Median Rent | $4,125 | |
| Most Expensive | $3,995,000 | |
| Least Expensive | $239,900 | |
| Market Action | 35 | |
| Slight Seller's Advantage | ||
The market seems to have paused around its high point. 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 |
|---|---|---|---|---|---|---|---|---|
| $1,695,000 | 4,600 | 2.5 - 5 acres | 4 | 4 | 17 | 4 | 2 | 316 |
| $880,000 | 3,576 | 1 - 2.5 acres | 4 | 3 | 16 | 3 | 5 | 184 |
| $675,000 | 3,001 | 0.5 - 1 acre | 4 | 3 | 11 | 4 | 7 | 92 |
| $464,000 | 2,076 | 8,000 - 10,000 sqft | 3 | 2 | 22 | 5 | 10 | 107 |