Cave Creek Real Estate Market Update: December 2019 Recap

by dustimartin-chime-me

Here Dusti gives you the low down on the Cave Creek and Carefree housing market for the month of December 2019. If you own a home in Cave Creek or Carefree or are looking to buy a home in the area, these are numbers you need to know and be aware of. I have seen some shifts in the market the last quarter or two in Cave Creek and Carefree. In this video I go over the big picture as well as break down the local real estate trends by price point. When I do these updates, Cave Creek and Carefree are combined as many Buyers are happy with either area and the demographics and price points are very similar. Things changes month here in the Valley of the Sun. So checking back regularly to get monthly updates helps to know what the current trends in real estate are.

If you have questions about what your specific neighborhood trends are or what these numbers mean for you, don’t hesitate to reach out. I am always happy to help and provide more information to keep you informed.

To view other videos on the local real estate market, jump over to my Youtube channel and hit the Subscribe button.

To see if I have any home buyers in my database that might be right for your home, click here.

Video Transcript in English (auto-generated):

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00:08 This is your monthly market update for

00:10 the cities of carefree and Cave Creek

00:13 for January 2nd 2020 all right so let’s

00:16 jump right into it our active listings

00:18 are down sixteen point nine percent over

00:20 last year

00:22 we’ve only got 256 active listings

00:25 between both towns and so that’s

00:28 actually pretty low but our sold

00:30 listings are up thirty-three point three

00:31 percent over this time last year so

00:34 that’s a significant jump our economy

00:38 and our local housing market are doing

00:40 great and things are trending in favor

00:42 of our sellers our median square price

00:45 per square foot right now is down 1.5

00:49 percent over this time last year and

00:51 we’re at two hundred one dollars and 69

00:54 cents for those of you who and then our

00:59 months of supply is actually down thirty

01:03 seven point seven percent over this time

01:06 last year which is a huge jump from year

01:09 to year and so we’re sitting at a three

01:12 point zero five month’s supply which is

01:14 technically a seller’s market it’s not

01:16 as white-hot as some other parts of the

01:18 valley but it is definitely in the

01:20 seller’s favor if not just a little bit

01:23 and then our median days on market is

01:25 actually down twenty over twenty percent

01:29 twenty point three percent and we’re

01:33 currently sitting at 51 days so from the

01:36 day you list to the day you’re closed

01:37 you’re looking about 51 days on the

01:40 market said and done so eight weeks you

01:43 can’t be in a new home for those of you

01:46 who are buying that’s just kind of an

01:48 indication that if something comes on

01:49 the market that interests you you should

01:51 probably jump on it before somebody else

01:52 does and let’s get right back in to the

01:57 other side of things which is the

01:59 breakdown of month supply by price point

02:02 so overall like I said we have a three

02:05 point zero five month’s supply so pretty

02:08 healthy sell seller’s market there’s not

02:11 even enough data available for the zero

02:13 to a hundred thousand or one hundred

02:15 to $200,000 price range and that’s

02:17 because between the two towns there’s

02:19 only one active listing in that price

02:21 range in all of carefree and Cave Creek

02:23 so there’s not even enough data there

02:26 when we get to the 200 to $300 $300,000

02:31 price range we’re at three point six

02:32 seven months we’re trending towards that

02:34 four month mark which is where the

02:36 cutoff is for a seller’s market and the

02:40 300 to 500 thousand dollar price range

02:43 is really where it’s at right now we’re

02:46 at one point zero three months of supply

02:48 in the 300 to 500 thousand dollar price

02:52 range so if you have a home in that

02:54 price range you are in the best possible

02:56 market for these two towns then we have

03:00 the 500 to 700 thousand dollar price

03:03 range and that is 2.18 months of supply

03:08 this year and when we get to the 700

03:13 thousand to a million if there’s a big

03:16 disparity there for Cave Creek and

03:18 carefree and we’re standing at a seven

03:20 point one one month supply so we’re

03:23 actually trending towards a buyers

03:24 market in the 700 thousand to a million

03:27 dollar price point and then when you get

03:31 to the one to three million price point

03:35 for homes there you’re looking at a 12

03:37 month supply so a one-year supply which

03:40 if you compare it to last year our one

03:43 two three million dollar price range had

03:46 only a ten point three three month

03:48 supply so a lot of other homes in the

03:51 area that are priced at that level and

03:55 we have a lot of them up here there’s

03:57 actually more on the market this time

03:59 last year than last year so with that

04:03 said if you’re looking at selling a home

04:05 that’s still it’s still a pretty good

04:10 market if you’re looking to sell a

04:12 luxury property in Carefree or Cave

04:16 Creek it’s just something that in other

04:19 parts of the valley they went from

04:20 having a 68 months supply last year to

04:23 like 12 or 7 or 28

04:28 so there hasn’t been as huge a shift and

04:31 if anything that’s corrected a little

04:33 bit and if you watch my channel you’ve

04:35 been hearing you talk about a correction

04:36 my on non-professional opinion is that

04:43 actually in the middle of the correction

04:45 right now and we’re experiencing it most

04:47 people just don’t realize it yet so

04:49 that’s my opinion and my projection for

04:52 2020 is that we’re already in the

04:54 correction and we are going into this is

04:57 January statistically speaking in the

04:59 country more homes get listed in January

05:02 than any other month throughout the year

05:05 and we’re going into the spring selling

05:07 season so my guess for quarter one and

05:10 quarter two is that’s going to adjust

05:11 and more people are going to come on the

05:13 market but everybody who was holding off

05:14 during the holidays especially since we

05:17 had increased sales numbers and stock

05:20 market numbers through the end of

05:22 quarter four of 2019

05:24 my guess is that we’re gonna rally we’ve

05:27 already had our correction or word right

05:29 now in the middle of it that’s that’s my

05:31 guess if you guys have any questions or

05:33 had any thoughts of buying or selling in

05:35 the area please give me a call for eight

05:37 zero seven one seven nine two four zero

05:39 five or if you’re simply curious about

05:41 what is happening in your micro-climate

05:43 and your specific neighborhood I would

05:44 be happy to calculate the numbers for

05:46 you

05:47 my numbers for you zero seven one seven

05:49 nine five let’s have a great day and

05:52 happy

05:59

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Dusti Martin

Agent | BRSA651351000

+1(480) 717-9405