Is Cave Creek, AZ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 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
$816,000
$345/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Cave Creek have sold for 5.7% more than they did a year ago.
Summary: The median home sold price in Cave Creek was $816,000 in May 2024, up 5.7% from last year, and the median price per square foot was $345.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $277.5K | $285K | +2.7% |
| 2 Bedrooms | $570K | $555K | -2.6% |
| 3 Bedrooms | $665K | $750K | +12.8% |
| 4 Bedrooms | $870K | $950K | +9.2% |
| 5+ Bedrooms | $1.1M | $1.3M | +19.0% |
Summary: Cave Creek housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 2.7%, 2 bedroom homes decreased by 2.6%, 3 bedroom homes increased by 12.8%, 4 bedroom homes increased by 9.2%, and 5+ bedroom homes increased by 19%.
Median Sold Price Compared To Nearby Cities
| Cave Creek | $771.6K | $816K | +5.7% |
| Deer Valley | $599.3K | $619.4K | +3.4% |
| Scottsdale | $804.9K | $825.7K | +2.6% |
| New River | $630K | $625K | -0.8% |
| Carefree | $1.2M | $1.0M | -17.2% |
Housing Supply in Cave Creek, AZ
How many homes are available in Cave Creek, AZ?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 278 | 300 | +7.9% |
Summary: The Cave Creek real estate market had 300 homes for sale in May 2024, a 7.9% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 4 | 4 | 0.0% |
| 2 Bedrooms | 30 | 24 | -20.0% |
| 3 Bedrooms | 94 | 92 | -2.1% |
| 4 Bedrooms | 104 | 128 | +23.1% |
| 5+ Bedrooms | 46 | 52 | +13.0% |
Summary: The Cave Creek housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 20%, 3 bedroom homes decreased by 2.1%, 4 bedroom homes increased by 23.1%, and 5+ bedroom homes increased by 13%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 52 | 50 | -3.8% |
Asking Price vs. Sold Price
32 Homes Were Sold
Under Asking
11 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. 64% of homes here sold below asking price last month.
Summary: A total of 50 homes were sold or pending in Cave Creek in May 2024, down by 3.8% month-over-month. Of the 50 sold homes, 64% were sold under asking, 22% were sold at asking, and 14% 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
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 68 Days | 66 Days | -3.0% |
Summary: Homes in Cave Creek had an average of 66 days on market in May 2024, down by 3% compared to last year.
Breakdown of Home Sale Times
13 Homes Were Sold
Under 30 Days
26 Homes Were Sold
In 30 - 90 Days
11 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Cave Creek has remained consistent over time.
Summary: During May 2024, 50 homes were sold in Cave Creek; 26% of homes were sold within 30 days, 52% of homes were sold within 30 to 90 days, and 22% 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.
The data relating to real estate listings on this website comes in part from the Internet Data Exchange (IDX) program of Multiple Listing Service of Southern Arizona. 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. Listings provided by brokerages other than this broker are identified with the MLSSAZ IDX Logo. All Information Is Deemed Reliable But Is Not Guaranteed Accurate. Listing information Copyright 2024 MLS of Southern Arizona. All Rights Reserved.