Cave Creek AZ 85331 Market Report October 2012

 

 

 

 

Cave Creek AZ Market Report

Cave Creek AZ 85331 Market Report October 2012

 – Total Active listings are almost unchanged from September 1 through October 31 and very steady with small fluctuations from May through October.

 – Lender Owned (REO) and Short Sales (SS) make up less than 14% of Total Actives.

 – Lender Owned (REO) prices are down 12.4% month over month. REO’s have been slowly falling in price per square foot ever since June when the price was $136. Lender owned inventories have remained pretty constant in the Cave Creek Market fluctuating between 9-11 properties per month.

 – Unlike REO and Normal Sales, Short Sale prices have bounced around over the past 6 months and I believe the main reason is the small number of short sales each month and the variety of property price points. Total number of short sales has fluctuated between 9 -14 per month since May and if you have one luxury priced home in the mix it can skew the numbers dramatically.

– As you can see Short Sales are averaging more than four months to close.

 – Normal Sale prices are up 11% month over month and up 12% over the past 6 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, don’t wait, prices will continue to rise and interest rates only have one direction to go… up. Buy now.

 – If you are thinking of selling your home in the next 12 months list it now, competition (other active listings) is still very low but increasing each month.

 – 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 bargains available in homes larger than 3000 sq.ft.

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Work with a REALTOR who understands the Cave Creek AZ 85331 Market E-mail Nancy@NancyLaswick.com or call (602) 793-1627.

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.

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.