First American Title Market Report
Cave Creek, AZ
Single-Family Homes
Cave Creek, AZ
Wed Oct 09 2024
This week the median list price for Cave Creek, AZ is $1,250,000 with the market action index hovering around 34. This is about the same as last month's market action index of 34. Inventory has increased to 175.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Slight Seller's Advantage
Market Narrative
The market remains in a relative stasis in terms of sales to inventory. Prices have not been moving higher for several 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 persistently, prices are likely to resume an upward climb.
Real-Time Market Profile
| Median List Price | $1,250,000 | |
| Median Price of New Listings | $924,950 | |
| Per Square Foot | $400 | |
| Average Days on Market | 121 | |
| Median Days on Market | 91 | |
| Price Decreased | 41% | |
| Price Increased | 3% | |
| Relisted | 7% | |
| Inventory | 175 | |
| Median Rent | ||
| Market Action | 34 | |
| Slight Seller's Advantage | ||
The market appears to be hovering around these current levels, though prices movved up a bit this week. The Market Action Index is a good leading indicator for the durability of this shift.
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 |
|---|---|---|---|---|---|---|---|---|
| $2,599,000 | 4,608 | 2.5 - 5 acres | 4 | 5 | 10 | 4 | 3 | 133 |
| $1,487,000 | 3,597 | 1 - 2.5 acres | 4 | 4 | 16 | 6 | 3 | 105 |
| $967,000 | 2,803 | 0.25 - 0.5 acre | 4 | 3 | 24 | 4 | 6 | 98 |
| $668,450 | 2,119 | 6,500 - 8,000 sqft | 3 | 2 | 25 | 8 | 5 | 63 |