Cave Creek, AZ 85331 Market Report July 2012

Cave Creek, AZ 85331  Market Report July 2012

As a Realtor living and working in the Phoenix Metro Area I am often asked what parts of the Valley are selling well? All real estate markets are local. Local meaning specific neighborhoods, subdivisions or zip codes and most often that is the market data that I supply to my clients. However, sometimes it’s beneficial to look at larger areas to identify trends that might not be so easily found in smaller samples. In this Market Report we’re looking at the beautiful town of Cave Creek, AZ 85331.

Cave Creek Homes For Sale

Total Active listings are down another 11% over the past 30 days.

Lender Owned (REO) and Short Sales (SS) make up less than 15% of Total Actives the lowest number in six years.

Lender Owned (REO) prices are up 11% month over month. That’s not a misprint. Lender owned properties are drying up fast in Cave Creek and those that are available are receiving multiple cash contracts driving prices up.

Short Sale prices are up 7.5 % month over month. Even though Short Sales are still a challenge to close they are becoming an endangered species much like Lender Owned (REO) properties.

Normal Sale prices are up 4.6% month over month and up 10% over the past six months.

What does this mean for buyers and sellers in Cave Creek, AZ 85331  :

 – If you are thinking of buying a home in the next year or two, buy now, prices will continue to rise.

 – If you are thinking of selling your home in 2012 list it now, competition is at an all- time low.

 – If you are considering a short sale list your home now and complete the sale before the end of the year to avoid possible tax consequences.

 – If you are considering moving from a smaller to a larger home there has never been a better time to do so. Smaller homes are selling quickly and in many cases above list price while there are still some great bargans available in homes larger than 3000 sq.ft.

Whether you are buying or selling a home in Cave Creek, AZ 85331  I offer a free customized market report. As an informed buyer or seller you’ll make better decisions.

Check out more of Nancy’s Market Reports on Active Rain.

All content in this post is protected by copyright. © Nancy Laswick 2012. All Rights Reserved.

Please Note:All statistics and figures are reported from the Arizona Regional Multiple Listing Service (ARMLS) and/or The Cromford Report and are deemed to be reliable, but cannot be guaranteed for accuracy. It is recommended that any information of special interest be verified through independent sources.