$389,000
5.47 Acres
Land
Kendall Weesner, Griffin Weesner, Listing Office: Long Realty Covey Luxury Properties
Is Cave Creek, AZ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
At the same time last year, Cave Creek was a Seller's Market.
Key Takeaway
Cave Creek is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Cave Creek, AZ
How much do homes in Cave Creek, AZ cost?
Median Sold Price
$811,666
$339/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$22,966(+2.9%)
Key Takeaway
Homes in Cave Creek have sold for 2.9% more than they did a year ago.
Summary: The median home sold price in Cave Creek was $811,666 in November 2024, up 2.9% from last year, and the median price per square foot was $339.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $285K | $278.7K | -2.2% |
| 2 Bedrooms | $550K | $549.9K | 0% |
| 3 Bedrooms | $715K | $714.5K | -0.1% |
| 4 Bedrooms | $862K | $950K | +10.2% |
| 5+ Bedrooms | $1.2M | $1.0M | -12.4% |
Summary: Cave Creek housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 2.2%, 2 bedroom homes did not change, 3 bedroom homes decreased by 0.1%, 4 bedroom homes increased by 10.2%, and 5+ bedroom homes decreased by 12.4%.
Median Sold Price Compared To Nearby Cities
| Scottsdale | $799.1K | $854.1K | +6.9% |
| New River | $610K | $640K | +4.9% |
| Deer Valley | $599.2K | $622.4K | +3.9% |
| Carefree | $1.0M | $1.0M | +3.7% |
| Cave Creek | $788.7K | $811.6K | +2.9% |
Housing Supply in Cave Creek, AZ
How many homes are available in Cave Creek, AZ?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 287 | 284 | -1.0% |
Summary: The Cave Creek real estate market had 284 homes for sale in November 2024, a 1.0% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 2 | 0.0% |
| 2 Bedrooms | 30 | 32 | +6.7% |
| 3 Bedrooms | 85 | 83 | -2.4% |
| 4 Bedrooms | 120 | 115 | -4.2% |
| 5+ Bedrooms | 50 | 52 | +4.0% |
Summary: The Cave Creek housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 6.7%, 3 bedroom homes decreased by 2.4%, 4 bedroom homes decreased by 4.2%, and 5+ bedroom homes increased by 4%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 50 | 41 | -18.0% |
Asking Price vs. Sold Price
32 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Cave Creek, you may be able to get a good deal. 78% of homes here sold below asking price last month.
Summary: A total of 41 homes were sold or pending in Cave Creek in November 2024, down by 18.0% month-over-month. Of the 41 sold homes, 78% were sold under asking, 15% were sold at asking, and 7% were sold over asking.
Days on Market for Cave Creek, AZ
How long does it take to sell a home in Cave Creek, AZ?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 57 Days | 83 Days | +43.9% |
Summary: Homes in Cave Creek had an average of 83 days on market in Nov 2024, up by 43.9% compared to last year.
Breakdown of Home Sale Times
11 Homes Were Sold
Under 30 Days
14 Homes Were Sold
In 30 - 90 Days
16 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Cave Creek are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During November 2024, 41 homes were sold in Cave Creek; 27% of homes were sold within 30 days, 34% of homes were sold within 30 to 90 days, and 39% of homes were sold over 90 days.
The data relating to real estate for sale on this site comes from the Broker Reciprocity/IDX of Arizona Regional Multiple Listing Service, Inc. Indicates a property listed by a real estate brokerage other than Rocket Homes Real Estate, LLC. All information should be verified by the recipient and none is guaranteed as accurate by ARMLS. No warranties, expressed or implied, are provided for the data herein, or for their use or interpretation by the user. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Arizona Regional Multiple Listing Service, Inc. do not create, control or review the property data displayed herein and take no responsibility for the content of such records. Federal law prohibits discrimination on the basis of race, color, religion, sex, handicap, familial status or national origin in the sale, rental or financing of housing. Information deemed reliable but not guaranteed. Copyright© 2024 Arizona Regional Multiple Listing Service, Inc. All Rights Reserved.