Cave Creek |Arizona |Real Estate |Home |MLS |Sales
As a part of keeping up with the real estate market in Cave Creek Arizona Real Estate it requires comparisons and analysis. Through the Cave Creek Arizona Real Estate MLS I can look into the past, look at the present and hopefully gain insight into the future.
We start with the Cave Creek Arizona Real Estate Home Sales that occurred during the time period of 9/1/12-6/5/13. The Cave Creek Real Estate Market tends to have the highest turnover rates during the fall, winter and spring.
Cave Creek Arizona Real Estate Home Sales 9/12-5/13
Cave Creek Arizona Home Sales Analysis 2012-13 Market
Looking back at Cave Creek Arizona Real Estate Home MLS Sales from a year ago we see that there were 524 Homes Sold during that time period. The lowest selling home in Cave Creek Arizona sold for $132,500 while the highest sales price of a home in Cave Creek Arizona sold for $3,800,000. The Average Sales Price of Sold Homes was $395,490 while the median sales price for Homes in Cave Creek Arizona was $350,000. The median ratio of sales price to list price was 98%.
The lowest square footage home sold in Cave Creek Arizona was 948 square feet while the largest home sold in Cave Creek Arizona was 10,159 square feet. The average square footage of a home sold in Cave Creek Arizona was 2,559 square feet while the median square footage of homes sold in Cave Creek Arizona was 2,421 square feet.
The lowest sales price per square foot in Cave Creek was $77.05 per square foot while the highest sales price per square foot was $504.55. The median sales price per square foot for homes in Cave Creek was $146.67 while the average sales price per square foot was $156.07.
Average Cumulative Days on the market for homes sold in Cave Creek were 87 days while the median days on the market for sold homes in Cave Creek Arizona were 49.
Cave Creek Arizona Home Sales Analysis 2013-14 Market
Looking at the present marketing year of 2014 we see that there were 440 Homes Sold during that comparable time period. The lowest selling home in Cave Creek Arizona sold for $150,000 while the highest sales price of a home in Cave Creek Arizona sold for $5,200,000. The Average Sales Price of Sold Homes was $445,089 while the median sales price for Homes in Cave Creek Arizona was $390,750. The median ratio of sales price to list price was 98%.
The lowest square footage home sold in Cave Creek Arizona was 968 square feet while the largest home sold in Cave Creek Arizona was 10,141 square feet. The average square footage of a home sold in Cave Creek Arizona was 2,578 square feet while the median square footage of homes sold in Cave Creek Arizona was 2,400 square feet.
The lowest sales price per square foot in Cave Creek was $82.31 per square foot while the highest sales price per square foot was $512.77. The median sales price per square foot for homes in Cave Creek was $165.36 while the average sales price per square foot was $169.55.
Average Cumulative Days on the market for homes sold in Cave Creek were 95 days while the median days on the market for sold homes in Cave Creek Arizona were 59.
Side By Side Comparison of the Years
Cave Creek Arizona Home Sales Comparison by Year
| Characteristic | Marketing Year 2013 | Marketing Year 2014 | Increase/Decrease % |
|---|---|---|---|
| Number of Homes Sold | 524 | 440 | -16% |
| Lowest Price | $132,500 | $150,000 | +13.2 |
| Highest Price | $3,800,000 | $5,200,000 | +37% |
| Average Sale Price | $395,490 | $445,089 | +12.54% |
| Median Sales Price | $350,000 | $390,750 | +11.64% |
| Smallest Square Footage | 948 | 968 | +2.1% |
| Highest Square Footage | 10,159 | 10,141 | 0% |
| Average Square Footage | 2,559 | 2,576 | 0% |
| Median Square Footage | 2,421 | 2,400 | 0% |
| Lowest Price/SF | $77.05 | $82.31 | +6.82% |
| Highest Price/SF | $504.55 | $512.77 | +1.6% |
| Average Price/SF | $156.05 | $169.55 | +8.65% |
| Median Price/SF | $146.05 | $165.36 | +13.22% |
| Average Days on Market | 87 | 95 | +9.2% |
| Median Days on Market | 49 | 59 | +20% |
Discussion of the Comparison of the Marketing Years
It is readily apparent that the number of home sales decreased from the marketing years 2013 vs 2014 by some 16%. As it is impossible to single out one factor as to why it can be assumed from the median days on the market increasing by 20% indicates that the demand was less for the marketing year 2014.
However, we do note that the median sales price of homes in Cave Creek Arizona did increase by 11.64% and is reflected in the median sales price per square foot with an increase of 13.22%.
What does all of this tell us?…..that demand for homes in Cave Creek Arizona decreased while sales prices increased.
Want to know more about specific Cave Creek Arizona MLS Homes for sale? Use the chart below to search for your next Cave Creek Arizona Real Estate Purchase.
Cave Creek Arizona Real Estate MLS Home Search
Search the Cave Creek Arizona MLS by Bedrooms, Price or Size. Direct link to the Cave Creek MLS with up to the moment information. Click on any link to be directed to your search.Cave Creek Arizona Subdivisions Homes For Sale
Free MLS Search all Cave Creek Arizona Subdivisions Homes For Sale. Search the MLS Like a Realtor. Click on any link to be taken to a special Realtor MLS Search Page to "Search Like Realtor".Discussion of Median vs. Average in Real Estate
What is the difference between median and average values? How does this affect your pricing strategy?
Let’s start by discussing the “average”, also known as the “mean”. This statistic is fairly easy to understand, as well as, to calculate. Just for purposes of this example, I want you to consider the current active properties (for sale) in your local market.
Compose a list of each active listing along with its asking price, or list price. A spreadsheet is very useful for this purpose. Next, we will calculate the sum by adding up all asking prices. Finally, we divide that sum value by the total number of listings. Voila! We just calculated the average asking price for listings in your market!
The median is also quite easy to understand and calculate. Let’s take another look at our list of active listing prices. We need to arrange this list in order from lowest price to highest. Once that is done, simply find the value that’s in the exact middle of the list. That value is our median asking price!
When our list has an even number of properties, our list will not have a single middle value, but rather we find 2 values that occupy the middle space. In this case, we simply take the average (add both numbers and divide by 2) to get the median value for the entire list.
Median values show a more accurate view of the market since they are typically less affected by large deviations in the data. For example, let’s assume that your data set includes 5 properties, as shown below along with their respective asking prices.
Property #1 … $350,000
Property #2 … $370,000
Property #3 … $310,000
Property #4 … $1,200,000
Property #5 … $335,000
The first thing you might notice is that one of these things is not like the others. Property #4 is priced much higher than the rest. This will have a significant effect on the average value, which happens to be $513,000.
To determine the median, we first sort the list in ascending order, then pick the middle value, which is $350,000. Comparing it to the average, the median value is a much more realistic interpretation of this market.
ARIZONA REAL ESTATE FOR SALE
Arizona Real Estate | Cities
Search for Scottsdale Arizona Real Estate For Sale, Cave Creek Arizona Homes For Sale, Carefree Arizona Homes For Sale, Rio Verde Foothills Arizona Homes For Sale, North Phoenix Arizona Homes For Sale.
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Free Arizona MLS Search. Start your Real Estate Search by City NOW or Search by zip codes, 85266, 85331, 85263, 85377, 85262, 85255.
As a 35 year + full time veteran of the REAL ESTATE Industry, I understand what it takes to not only find the Home, Lot, Land, of your dreams, but also how to negotiate the minefield of real estate transactions. Not only am I a veteran of the real estate industry, I also live in the area I service.
An avid Golfer, Horseman and Baseball Fanatic, I know the pulse of the community. Todays buyer starts on the internet and spends an average of 5 months quietly perusing the information that is available. As this area tends to be buyers from outside the area my internet presence is a huge attraction.
I regularly update my material and have additional pages that I maintain with up to date information on such platforms as Coldwell Banker, Google+, Facebook, Blogger, Active Rain, EProperties, Trulia, Zillow, YouTube , Tumblr and many others. Also, I have other sites that are specific to Property Types. These are:
North Scottsdale Homes For Sale By Price
Direct Link to the North Scottsdale MLS to search for homes in the specific bedroom, size or price category. You can also perform a custom search by clicking on the link to a custom search at the bottom of the column.
North Scottsdale Arizona Subdivision Homes For Sale Search
Search for MLS homes in specific subdivisions by Bedroom and Price Ranges. Click on any link to be taken to an Scottsdale MLS Search Page. To perform a custom search, click on the custom search link at the bottom of the column.| Saguaro Estates | Saguaro Highlands | Sandflower | Silverleaf |
|---|---|---|---|
| All Homes | All Homes | All Homes | 3 Bedroom Homes |
| 3 Bedroom Homes | 3 Bedrooms | 3 Bedroom Homes | 4 Bedroom Homes |
| 4 Bedroom Homes | 4 Bedrooms | 4 Bedroom Homes | 5 Bedroom Homes |
| 5 Bedroom Homes | 5 Bedroom | 6 + Bedroom Homes | |
Scottsdale Arizona Golf Course Homes For Sale
Free MLS Search all Scottsdale Arizona Golf Course Homes For Sale. Search by Listing Price, Square Footage, all Scottsdale Arizona Golf Course Homes For Sale. Just click on any link to be taken to Scottsdale Golf Course Homes For Sale Links to the Realtor MLS.| Scottdale Golf Course Homes |
|---|
| All Homes |
| 3 Bedroom Homes |
| 4 Bedroom Homes |
| 5 Bedroom Homes |
| -300K Homes |
| 300-600K Homes |
| 600K-1 Million Homes |
| Million Dollar Homes |
Cave Creek Arizona Real Estate MLS Home Search
Search the Cave Creek Arizona MLS by Bedrooms, Price or Size. Direct link to the Cave Creek MLS with up to the moment information. Click on any link to be directed to your search.Cave Creek Arizona Subdivisions Homes For Sale
Free MLS Search all Cave Creek Arizona Subdivisions Homes For Sale. Search the MLS Like a Realtor. Click on any link to be taken to a special Realtor MLS Search Page to "Search Like Realtor".
Carefree Arizona |Real Estate |MLS |Realtor |Homes |Search
Search the Carefree Arizona MLS by Bedrooms, Price or Size. Direct link to the Carefree Arizona MLS with up to the moment information. Click on any link to be directed to your search.Carefree Arizona Subdivision |MLS |Homes |Golf Course Homes |Lots |MLS
Carefree Arizona Real Estate MLS Subdivision Search. Direct Link to the Carefree MLS to search specific subdivisions in Carefree Arizona. Up to date to the moment information. Search for all Carefree Arizona Subdivision Homes For Sale.Rio Verde Foothills Arizona Homes For Sale |Golf Course Homes |Horse Properties
Search Rio Verde Arizona MLS by Bedrooms, Price or Size. Direct link to the Rio Verde Arizona MLS with up to the moment information. Click on any link to be directed to your search for Homes, Lots, Land, Luxury Homes, Golf Course Homes, Horse Properties.
North Scottsdale Arizona | Horse |Properties |Homes |Land
Free MLS Search all North Scottsdale Arizona Horse Properties, Land, Homes, For Sale. Search the North Scottsdale MLS, Homes for Sale, Horse Properties for Sale, Land, Like a Realtor.| All Horse Property | By Price | Facilities | Raw Land |
|---|---|---|---|
| 3 Bedroom | -500K | + Barn | Under 2.5 Acres |
| 4 Bedroom | 500-999K | + Arena | 2 to 5 Acres |
| 5 Bedroom | 1M+ | Over 5 Acres | |
Commercial Real Estate For Sale
Scottsdale, Phoenix, Tempe, Chandler, Gilbert, Mesa, Fountain Hills, Scottsdale, Cave Creek, Carefree, Arizona. Search all Commercial Real Estate For Sale. Search Office, Office Warehouse, Warehouse, Medical, Dental, Retail, Commercial Land For Sale.
Commercial MLS Search, Click on any search link
Commercial MLS Real Estate Search, Scottsdale, Phoenix, Mesa, Tempe, Chandler, Gilbert, Fountain Hills, Cave Creek, Anthem Arizona. Click on any link to be taken to the search results page.| OFFICE FOR SALE SEARCH | MEDICAL/DENTAL OFFICE SPACE FOR SALE | OFFICE WAREHOUSE FOR SALE | WAREHOUSE FOR SALE | RETAIL FOR SALE |
|---|---|---|---|---|
| Scottsdale | Scottsdale | Scottsdale | Scottsdale | Scottsdale |
| Phoenix | Phoenix | Phoenix | Phoenix | Phoenix |
| Tempe | Tempe | Tempe | Tempe | Tempe |
| Mesa | Mesa | Mesa | Mesa | Mesa |
| Chandler | Chandler | Chandler | Chandler | Chandler |
| Gilbert | Gilbert | Gilbert | Gilbert | Gilbert |
| Fountain Hills | Fountain Hills | Fountain Hills | Fountain Hills | Fountain Hills |
| Cave Creek | Cave Creek | Cave Creek | Cave Creek | Cave Creek |
| Anthem | Anthem | Anthem | Anthem |
OVER 300 ENDORSEMENTS
- Jeff McDowell, North Scottsdale Realtor 623.262.0811 EMAIL ME
By Jeff McDowell
