Is Cave Creek, AZ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since February 2023
At the same time last year, Cave Creek was a Seller's Market.
Housing Prices in Cave Creek, AZ
How much do homes in Cave Creek, AZ cost?
Median Sold Price
$790,000
$343/sqft
Based on all homes sold in the last 12 months.
Difference Since February 2023
Summary: The median home sold price in Cave Creek was $790,000 in February 2024, down 1.3% from last year, and the median price per square foot was $343.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Feb 2023 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $277.5K | $285K | +2.7% |
2 Bedrooms | $575K | $562.5K | -2.2% |
3 Bedrooms | $695K | $715K | +2.9% |
4 Bedrooms | $925K | $867K | -6.3% |
5+ Bedrooms | $1.2M | $1.2M | +2.3% |
Summary: Cave Creek housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes increased by 2.7%, 2 bedroom homes decreased by 2.2%, 3 bedroom homes increased by 2.9%, 4 bedroom homes decreased by 6.3%, and 5+ bedroom homes increased by 2.3%.
Median Sold Price Compared To Nearby Cities
Deer Valley | $611.4K | $609.5K | -0.3% |
Cave Creek | $800.8K | $790K | -1.3% |
Scottsdale | $822.6K | $804.1K | -2.3% |
New River | $646.5K | $624K | -3.5% |
Carefree | $1.2M | $1.0M | -13.7% |
Housing Supply in Cave Creek, AZ
How many homes are available in Cave Creek, AZ?
Number of Homes For Sale
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
235 | 266 | +13.2% |
Summary: The Cave Creek real estate market had 266 homes for sale in February 2024, a 13.2% increase compared to January 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Jan 2024 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 2 | 0.0% |
2 Bedrooms | 33 | 32 | -3.0% |
3 Bedrooms | 77 | 86 | +11.7% |
4 Bedrooms | 85 | 102 | +20.0% |
5+ Bedrooms | 38 | 44 | +15.8% |
Summary: The Cave Creek housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 3%, 3 bedroom homes increased by 11.7%, 4 bedroom homes increased by 20%, and 5+ bedroom homes increased by 15.8%.
Number of Homes Sold
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
28 | 35 | +25.0% |
Asking Price vs. Sold Price
27 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Summary: A total of 35 homes were sold or pending in Cave Creek in February 2024, up by 25.0% month-over-month. Of the 35 sold homes, 77% were sold under asking, 14% were sold at asking, and 9% 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
Feb 2023 | Feb 2024 | CHANGE |
---|---|---|
74 Days | 72 Days | -3.6% |
Summary: Homes in Cave Creek had an average of 72 days on market in Feb 2024, down by 3.6% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
13 Homes Were Sold
In 30 - 90 Days
14 Homes Were Sold
Over 90 Days
Summary: During February 2024, 35 homes were sold in Cave Creek; 23% of homes were sold within 30 days, 37% of homes were sold within 30 to 90 days, and 40% of homes were sold over 90 days.