The First American Title Market Report
Cave Creek, AZ
Single-Family Homes
Arizona Direct Operations
Cave Creek, AZ
Sat Oct 16 2021
This week the median list price for Cave Creek, AZ is $896,051 with the market action index hovering around 72. This is an increase over last month's market action index of 70. Inventory has increased to 52.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
The market remains in a relative stasis in terms of sales to inventory and prices have been relatively stable for a few weeks. However, inventory is sufficiently low to keep us in the Seller’s Market zone so watch changes in the MAI. If the market heats up, prices are likely to resume an upward climb.
Real-Time Market Profile
| Median List Price | $896,051 | |
| Median Price of New Listings | $799,999 | |
| Per Square Foot | $343 | |
| Average Days on Market | 103 | |
| Median Days on Market | 21 | |
| Price Decreased | 21% | |
| Price Increased | 6% | |
| Relisted | 8% | |
| Inventory | 52 | |
| Median Rent | $6,250 | |
| Market Action | 72 | |
| Strong Seller's Market | ||
The market seems to have paused around this plateau. 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 |
|---|---|---|---|---|---|---|---|---|
| $1,950,000 | 3,714 | 5 - 10 acres | 4 | 3 | 16 | 2 | 4 | 21 |
| $1,200,000 | 3,308 | 1 - 2.5 acres | 4 | 3 | 18 | 4 | 4 | 28 |
| $799,000 | 2,380 | 0.25 - 0.5 acre | 4 | 2 | 22 | 1 | 6 | 28 |
| $584,900 | 1,939 | 4,500 - 6,500 sqft | 3 | 2 | 28 | 6 | 6 | 7 |