Mon Oct 19 2020
This week the median list price for Cave Creek, AZ is $874,999 with the market action index hovering around 52. This is less than last month's market action index of 53. Inventory has held steady at or around 117.
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
|Median List Price||$874,999|
|Per Square Foot||$265|
|Days on Market||148|
|Strong Seller's Market|
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.
Each segment below represents approximately 25% of the market ordered by price.
|Median Price||Sq. Ft.||Lot Size||Beds||Bath||Age||New||Absorbed||DOM|
|$1,694,000||4,368||2.5 - 5 acres||4||4||17||2||1||324|
|$995,000||3,738||1 - 2.5 acres||4||3||16||4||2||82|
|$789,500||2,929||0.5 - 1 acre||4||3||18||4||2||155|
|$549,500||2,352||8,000 - 10,000 sqft||4||2||22||8||8||32|