85331 Real Estate | Cave Creek | Arizona | Trends
Cave Creek Arizona 85331 Property Sales
Cave Creek, 85331 Real Estate Home Sales in November were 31, down -50.8% from 63 in November of 2012 and -48.3% lower than the 60 sales last month. November 2013 sales were at their lowest level compared to November of 2012 and 2011. November YTD sales of 646 are running -4.2% behind last year’s year-to-date sales of 674.
The Median Sales Price of Homes Sold, Cave Creek Arizona 85331 Real Estate in November was $367,000, up 5.2% from $349,006 in November of 2012 and down -4.1% from $382,600 last month. The Average Sales Price in November was $398,161, down -3.5% from $412,710 in November of 2012 and down -2.9% from $410,060 last month. November 2013 ASP was at a mid range compared to November of 2012 and 2011.
Inventory & MSI
The Total Inventory of Cave Creek Arizona Homes available for sale as of November was 296, up 4.2% from 284 last month and up 59.1% from 186 in November of last year. November 2013 Inventory was at highest level compared to November of 2012 and 2011.
A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The November 2013 MSI of 9.5 months was at its highest level compared with November of 2012 and 2011.
The average Days On Market(DOM) shows how many days the average Home for Sale in Cave Creek Arizona, 85331 Real Estate is on the Market before it sells. An upward trend in DOM tends to indicate a move towards more of a Buyer’s market, a downward trend a move towards more of a Seller’s market. The DOM for November was 73, up 49.0% from 49 days last month and up 12.3% from 65 days in November of last year. The November 2013 DOM was at its highest level compared with November of 2012 and 2011.
Selling Price per Square Foot
The Selling Price per Square Foot is a great indicator for the direction of Home Values in 85331 Cave Creek Arizona. Since Median Sales Price and Average Sales price can be impacted by the ‘mix’ of high or low end Properties in the market, the selling price per square foot is a more normalized indicator on the direction of Property values. The November 2013 Selling Price per Square Foot of $161 was up 0.6% from $160 last month and up 7.3% from $150 in November of last year.
Selling Price vs Listing Price
The Selling Price vs Listing Price reveals the average amount that Sellers are agreeing to come down from their list price on Homes for Sale in Cave Creek 85331 Arizona. The lower the ratio is below 100% the more of a Buyer’s market exists, a ratio at or above 100% indicates more of a Seller’s market. The November 2013 Selling Price vs List Price of 97.4% was up from 97.3% last month and down from 98.9% in November of last year.
Inventory / New Listings / Sales
‘This last view of the market combines monthly inventory of homes for sale in Cave Creek 85331 Arizona along with New Listings and Sales. The graph shows the basic annual seasonality of the market as well as the relationship between these items. The number of New Listings in November 2013 was 66, down -35.3% from 102 last month and down -2.9% from 68 in November of last year.
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