Navi Title Agency
Cave Creek, AZ
Single-Family Homes
Here is your weekly Market Update!
Cave Creek, AZ
Sat Jun 10 2023
This week the median list price for Cave Creek, AZ is $1,200,000 with the market action index hovering around 43. This is less than last month's market action index of 44. Inventory has held steady at or around 81.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Slight Seller's Advantage
The market has not shown strong directional trends in terms of supply and demand. However, inventory is sufficiently low to keep us in the Seller’s Market zone and prices have been moving upward as evidence.
Real-Time Market Profile
| Median List Price | $1,200,000 | |
| Median Price of New Listings | $974,950 | |
| Per Square Foot | $403 | |
| Average Days on Market | 117 | |
| Median Days on Market | 56 | |
| Price Decreased | 41% | |
| Price Increased | 1% | |
| Relisted | 6% | |
| Inventory | 81 | |
| Median Rent | ||
| Market Action | 43 | |
| Slight Seller's Advantage | ||
This week saw relatively little price change from last week. However, prices continue demonstrate a nice up trend in general over the last several weeks.
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 |
|---|---|---|---|---|---|---|---|---|
| $2,500,000 | 4,205 | 2.5 - 5 acres | 4 | 4.5 | 16 | 2 | 1 | 122 |
| $1,500,000 | 3,562 | 1 - 2.5 acres | 4 | 3.5 | 20 | 2 | 2 | 73 |
| $999,500 | 2,878 | 1 - 2.5 acres | 4 | 2.8 | 21 | 4 | 1 | 63 |
| $750,000 | 2,119 | 8,000 - 10,000 sqft | 3 | 2 | 24 | 4 | 4 | 35 |