Is Cave Creek, AZ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Cave Creek has remained a Seller's Market.
Housing Prices in Cave Creek, AZ
How much do homes in Cave Creek, AZ cost?
Median Sold Price
$806,166
$345/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Cave Creek was $806,166 in March 2024, up 0.8% from last year, and the median price per square foot was $345.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $277.5K | $282.4K | +1.8% |
2 Bedrooms | $567K | $559.9K | -1.2% |
3 Bedrooms | $690K | $732.5K | +6.2% |
4 Bedrooms | $893.2K | $907.5K | +1.6% |
5+ Bedrooms | $1.1M | $1.3M | +12.8% |
Summary: Cave Creek housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 1.8%, 2 bedroom homes decreased by 1.2%, 3 bedroom homes increased by 6.2%, 4 bedroom homes increased by 1.6%, and 5+ bedroom homes increased by 12.8%.
Median Sold Price Compared To Nearby Cities
Deer Valley | $604.7K | $615K | +1.7% |
Cave Creek | $799.9K | $806.1K | +0.8% |
Scottsdale | $821.3K | $810.4K | -1.3% |
New River | $642K | $625K | -2.6% |
Carefree | $1.1M | $1.0M | -9.7% |
Housing Supply in Cave Creek, AZ
How many homes are available in Cave Creek, AZ?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
267 | 287 | +7.5% |
Summary: The Cave Creek real estate market had 287 homes for sale in March 2024, a 7.5% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 2 | 0.0% |
2 Bedrooms | 28 | 30 | +7.1% |
3 Bedrooms | 89 | 94 | +5.6% |
4 Bedrooms | 103 | 109 | +5.8% |
5+ Bedrooms | 45 | 52 | +15.6% |
Summary: The Cave Creek housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 7.1%, 3 bedroom homes increased by 5.6%, 4 bedroom homes increased by 5.8%, and 5+ bedroom homes increased by 15.6%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
40 | 49 | +22.5% |
Asking Price vs. Sold Price
37 Homes Were Sold
Under Asking
9 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Summary: A total of 49 homes were sold or pending in Cave Creek in March 2024, up by 22.5% month-over-month. Of the 49 sold homes, 76% were sold under asking, 18% were sold at asking, and 6% 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
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
69 Days | 63 Days | -8.5% |
Summary: Homes in Cave Creek had an average of 63 days on market in Mar 2024, down by 8.5% compared to last year.
Breakdown of Home Sale Times
18 Homes Were Sold
Under 30 Days
22 Homes Were Sold
In 30 - 90 Days
9 Homes Were Sold
Over 90 Days
Summary: During March 2024, 49 homes were sold in Cave Creek; 37% of homes were sold within 30 days, 45% of homes were sold within 30 to 90 days, and 18% of homes were sold over 90 days.