$6,500,000
8,682 SqFt
5 Beds
•6 Baths
Kathleen Benoit, Monique Pacurariu, Listing Office: Russ Lyon Sotheby's International Realty
Is Cave Creek, AZ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, Cave Creek has remained a Seller's Market.
Key Takeaway
Cave Creek is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Cave Creek, AZ
How much do homes in Cave Creek, AZ cost?
Median Sold Price
$804,000
$340/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$27,253(+3.5%)
Key Takeaway
Homes in Cave Creek have sold for 3.5% more than they did a year ago.
Summary: The median home sold price in Cave Creek was $804,000 in October 2024, up 3.5% from last year, and the median price per square foot was $340.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $282.4K | $278.7K | -1.3% |
| 2 Bedrooms | $550K | $545K | -0.9% |
| 3 Bedrooms | $700K | $718.7K | +2.7% |
| 4 Bedrooms | $856K | $950K | +11.0% |
| 5+ Bedrooms | $1.2M | $1.0M | -11.5% |
Summary: Cave Creek housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 1.3%, 2 bedroom homes decreased by 0.9%, 3 bedroom homes increased by 2.7%, 4 bedroom homes increased by 11%, and 5+ bedroom homes decreased by 11.5%.
Median Sold Price Compared To Nearby Cities
| Carefree | $1.0M | $1.2M | +13.2% |
| Scottsdale | $799.9K | $850.3K | +6.3% |
| Deer Valley | $596.9K | $620.6K | +4.0% |
| New River | $605K | $627.5K | +3.7% |
| Cave Creek | $776.7K | $804K | +3.5% |
Housing Supply in Cave Creek, AZ
How many homes are available in Cave Creek, AZ?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 260 | 289 | +11.2% |
Summary: The Cave Creek real estate market had 289 homes for sale in October 2024, a 11.2% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 2 | 0.0% |
| 2 Bedrooms | 27 | 30 | +11.1% |
| 3 Bedrooms | 82 | 90 | +9.8% |
| 4 Bedrooms | 103 | 119 | +15.5% |
| 5+ Bedrooms | 46 | 48 | +4.3% |
Summary: The Cave Creek housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 11.1%, 3 bedroom homes increased by 9.8%, 4 bedroom homes increased by 15.5%, and 5+ bedroom homes increased by 4.3%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 29 | 51 | +75.9% |
Asking Price vs. Sold Price
40 Homes Were Sold
Under Asking
8 Homes Were Sold
At Asking
3 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. 78.4% of homes here sold below asking price last month.
Summary: A total of 51 homes were sold or pending in Cave Creek in October 2024, up by 75.9% month-over-month. Of the 51 sold homes, 78% were sold under asking, 16% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 99 Days | 77 Days | -21.7% |
Summary: Homes in Cave Creek had an average of 77 days on market in Oct 2024, down by 21.7% compared to last year.
Breakdown of Home Sale Times
11 Homes Were Sold
Under 30 Days
23 Homes Were Sold
In 30 - 90 Days
17 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Cave Creek has remained consistent over time.
Summary: During October 2024, 51 homes were sold in Cave Creek; 22% of homes were sold within 30 days, 45% of homes were sold within 30 to 90 days, and 33% 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.