Cave Creek Real Estate Market Conditions & Reports, Cave Creek Market Trends, Arizona

Market Commentary Provided by Glen and Peggy Roberts
If you can qualify, now is an exceptional time to buy a home in Cave Creek. Prices appear to have hit bottom and have started stabilizing/inching up. The market is turning around...buy Cave Creek while you can!

Report Date

Winter 2010

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CONNECT WITH A LOCAL PROFESSIONAL

Glen and Peggy Roberts
West USA Realty
Scottsdale, Arizona
480-947-2106
GlenandPeggy@agents.househunt.com
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Nearest Metro Area

Phoenix

Buyers’ or Sellers’ Market

More sellers than buyers

Average Time on Market

90-120 days

Market Trend

Decreasing

Housing Inventory

Good supply - Some Prices

Inventory Comments

Housing inventory remains good; value-priced homes selling quickly, often with multiple offers

Average Home Price

$300,000 - View Graph Trend

Best Selling Price Range

$250,000 - $299,000

Worst Selling Price Range

$1,000,000+

Compared to Last Year

Down 20-25%

Prices As % of Asking Price

90-95%

Multiple Offers?

Yes

Multiple Offers Commentary

Value-priced homes in lower ranges are receiving multiple offers; short sales and bank-owned sometimes are being priced considerably under market with intention of stimulating multiple offers and bidding wars.

Greatest Activity

Repeat Buyers

Buyer Activity for the past 90 days in Cave Creek is

Increasing

Seller Activity for the past 90 days in Cave Creek is

Increasing

Is Financing Available For Qualified Buyers in Cave Creek?

Yes

Existing Home Prices for the past 90 days are

No Change

What Percentage of the Current Housing Inventory are Foreclosures and/or Short Sales?

35-40%

Housing Hot Spots

Rancho Manana, Tatum Ranch, Tatum Highlands

Reason to Buy/Sell

Lower prices with good selection and competitive interest rates creates a perfect time to buy in Cave Creek!

Average Sold Price

$300,000 - View Graph Trend

National Real Estate Market

National Summary: National Housing Market Recovery Near?

Latest HouseHunt Random Survey Finds Encouraging Signs - First Time Buyers Taking Advantage of $8,000 Tax Credit

Like the legendary phoenix which rose renewed from its ashes, the U.S. housing market appears to be on the verge of emerging from the worst real estate market in three years. Several encouraging signs are there.

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