Cave Creek Market Report 12.20.2017
National and County-wide news sources are slow and do not accurately represent what is happening in our local market. It’s important to stay informed about conditions impacting your local neighborhood! Click the link to see the most recent for CAVE CREEK market report (85331).
The median list price in CAVE CREEK, AZ 85331 this week is $627,450.
Inventory has been decreasing lately but the Market Action Index is falling also. With days-on-market climbing, these are relatively negative implications for the market.
Supply and Demand
In the last few weeks the market has achieved a relative stasis point in terms of sales to inventory. However, inventory is sufficiently low to keep us in the Seller’s Market zone so watch changes in the Market Action Index. If the market heats up, prices are likely to resume an upward climb.
While the median price in Cave Creek 85331, hasn’t moved much in the last few weeks, we are relatively close to the market’s high- water mark. Watch for persistent downward shift in the Market Action Index into the Buyer’s zone as a leading indicator of the price strength subsiding.
Cave Creek is a town located north of the Phoenix Metro area, in the Sonoran Desert of Arizona, and the elevation is 2129 feet above sea level.
There are two notable streams known as Cave Creek in Arizona. One flows through the Town of Cave Creek and into Phoenix. This may be the origin of the Town’s name. The other Cave Creek (Cave Creek Canyon) is in the Chiricahua Mountains, 200 miles to the southeast.
In 2000, the state of Arizona, Maricopa County, and the town of Cave Creek bought Spur Cross Ranch, owned by Tyler Covell, a 2,154-acre tract of Sonoran desert just north of Phoenix, for $21 million. It had unusual cacti, stone formations, and hundreds of Hopi Indian tribal artifacts, and is now a Maricopa County park. Thanks for viewing the Cave Creek AZ Market Report Sept. Home Sales
This Cave Creek Market Report is brought to you weekly by the Dobbins Team – Mike and Liz, Courtesy of Security Title Agency.
Are you considering a move to the Cave Creek Area? The Dobbins would love to help! Are you looking to sell your home in another area and need information about market conditions there? Contact us for custom area market conditions. Mike’ s direct line 623.826.6936.