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 2022
Since last year, Cave Creek has remained a Buyer's Market.
Key Takeaway
Cave Creek is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Cave Creek, AZ
How much do homes in Cave Creek, AZ cost?
Median Sold Price
$788,700
$343/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2022
Key Takeaway
Homes in Cave Creek have sold for 8.3% less than they did a year ago.
Summary: The median home sold price in Cave Creek was $788,700 in November 2023, down 8.3% from last year, and the median price per square foot was $343.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2022 | Nov 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $278K | $282.4K | +1.6% |
| 2 Bedrooms | $575K | $562.2K | -2.2% |
| 3 Bedrooms | $719.5K | $712.5K | -1.0% |
| 4 Bedrooms | $1.0M | $847K | -21.9% |
| 5+ Bedrooms | $1.5M | $1.2M | -19.4% |
Summary: Cave Creek housing prices by bedroom type for November 2023 compared to the previous year: The home price of 1 bedroom homes increased by 1.6%, 2 bedroom homes decreased by 2.2%, 3 bedroom homes decreased by 1%, 4 bedroom homes decreased by 21.9%, and 5+ bedroom homes decreased by 19.4%.
Median Sold Price Compared To Nearby Cities
| Scottsdale | $800.2K | $799.6K | -0.1% |
| Deer Valley | $615.1K | $599.8K | -2.5% |
| New River | $640K | $610K | -4.7% |
| Cave Creek | $860K | $788.7K | -8.3% |
| Carefree | $1.3M | $1.0M | -19.2% |
Housing Supply in Cave Creek, AZ
How many homes are available in Cave Creek, AZ?
Number of Homes For Sale
| Oct 2023 | Nov 2023 | CHANGE |
|---|---|---|
| 212 | 209 | -1.4% |
Summary: The Cave Creek real estate market had 209 homes for sale in November 2023, a 1.4% decrease compared to October 2023.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Nov 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 2 | 0.0% |
| 2 Bedrooms | 23 | 21 | -8.7% |
| 3 Bedrooms | 74 | 79 | +6.8% |
| 4 Bedrooms | 73 | 71 | -2.7% |
| 5+ Bedrooms | 40 | 36 | -10.0% |
Summary: The Cave Creek housing inventory by bedroom type for November 2023 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 8.7%, 3 bedroom homes increased by 6.8%, 4 bedroom homes decreased by 2.7%, and 5+ bedroom homes decreased by 10%.
Number of Homes Sold
| Oct 2023 | Nov 2023 | CHANGE |
|---|---|---|
| 34 | 26 | -23.5% |
Asking Price vs. Sold Price
15 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
7 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. 57.7% of homes here sold below asking price last month.
Summary: A total of 26 homes were sold or pending in Cave Creek in November 2023, down by 23.5% month-over-month. Of the 26 sold homes, 58% were sold under asking, 15% were sold at asking, and 27% 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 2022 | Nov 2023 | CHANGE |
|---|---|---|
| 49 Days | 59 Days | +19.1% |
Summary: Homes in Cave Creek had an average of 59 days on market in Nov 2023, up by 19.1% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
13 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Cave Creek has remained consistent over time.
Summary: During November 2023, 26 homes were sold in Cave Creek; 31% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 19% 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© 2023 Arizona Regional Multiple Listing Service, Inc. All Rights Reserved.