04 30 12 Market Update [Sf] Az Cave Creek-2

8/2/2019 04 30 12 Market Update [Sf] Az Cave Creek-2

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MARKET UPDATEKelli Grant Realty Group

Current Real Estate Market Conditions for Single Family Homes

Trends in Pricing Current Levels of Supply and Demand Value Metrics

Report for the week of

April 30, 2012

Presented by Kelli Grant Group Moving People Through Good DeedsPlatinum Premier [email protected](623) 239-4402

CAVE CREEK,

Powered by Altos Research LLC | www.altosresearch.com | Copyright 2005-2010 Altos Research LLC


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Median List Price

Median Lot Size

19.6

Percent Relisted (reset DOM)

2894

3.0

6 %

Median Number of Bathrooms

166

Inventory of Properties Listed

$ 152

Percent Flip (price increased)

5.0 - 10 acres

Median House Size (sq ft)

$ 400,000

35 %

4.0

Market Action Index

Median Number of Bedrooms

Asking Price Per Square Foot

n/a

Percent of Properties with Price Decrease

Strong Buyer's

+

+

==

Altos Research Value Statistics

Most Expensive Listing

Average Days on Market (DoM)

ottom/Fourth

Lower/Third

Upper/Second

Top/First

This WeekReal-Time Market Profile Trend

The Market Action Index answers the question "How's the Market?" by measuringthe current rate of sale versus the amount of the inventory. Index above 30implies a seller's advantage. Below 30, conditions give the advantage to thebuyer.

Supply and Demand

Characteristics per Quartile

10 24010

1292.5 13

3.0

13

166

4.0 59

83

8

11

5.0 - 10acres

15

$ 369,000

6

0

60

4.0

not available

53.0

1846 not available

59

$ 242,175

4.0

287

not available$ 499,000

4.0$ 999,000

12

6

3096

With inventory and days-on-marketbasically unchanged and the MarketAction Index increasing, the market isnot sending strong directional signalfor the near-term outlook.

Monday April 30, 2012

Kelli Grant Group | www.PhoenixHomeResource.com

59

2840

2.0

The median list price in CAVE CREEK,AZ this week is $400,000. The 237

properties have been on the marketfor an average of 166 days.

Most expensive 25% of properties

Upper-middle 25% of properties

Lower-middle 25% of properties

Least expensive 25% of properties

Quartile Median Price Lot Size Beds Baths Age Inventory New Absorbed DOMSq. Ft.

No change

Strong upward trend Strong downward trend

Slight upward trend Slight downward trend+

==

=

CAVE CREEK,

City Overview

Least Expensive Listing

Average List Price

Average Age of Listing

237

$ 6,400,000

$ 60,000

$ 616,380

15

Trend Key:

The market has shown someevidence of slowing recently. Bothprices and inventory levels arerelatively unchanged in recentweeks. Watch the Market ActionIndex for changes as it can be aleading indicator for price changes.

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Single Family Home


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City OverviewCAVE CREEK,


Median PriceAgain this week we see a downward notch for prices. Pricing has been weak in recent weeks and versus their absolute-highlevels. The Market Action Index is a good leading indicator for the durability of this trend.

90-day Average7-day Average

Quartile PricesPrices have settled at a price plateau across the board. Prices in all four quartiles are basically mixed. Look for a persistent shift(up or down) in the Market Action Index before prices move from these current levels.

First/Top Second/Upper Third/Lower Fourth/Bottom

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Single Family Hom


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Price per Square FootThe market's downward trends are shared across both price and value. People are recently placing less value on homes (you cansee the recent declines in price per square foot as evidence.) Look for significant changes in the Market Action Index as aprecursor to price and value changes, possibly as inflection points for good investment opportunities.


Inventory of Properties Listed for Sale

Inventory has been relatively steady around these levels in recent weeks.


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Single Family Hom


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Market Action IndexThe CAVE CREEK market is currently quite strongly in the Buyer's Advantage zone (below 30). The 90-day Market Action Indexstands at 19.65. With several months of inventory available at the current sales rate, buyers should find ample choice.

Buyers/Sellers Cutoff90-day Average

Market Action Index per QuartileNot surprisingly given the overall Market Action Index, all quartiles are in the Buyer's Market zone with several months ofinventory given the current rate of demand for homes in the quartile. Watch the quartile for changes before the overall marketshifts. Often one end of the market (e.g. the low end) will improve and signal a strengthening market before the whole group

changes.


Buyers/Sellers Cutoff

Residential house prices are a function of supply and demand, and market conditions can be characterizedby analyzing those factors. Watch this index for sustained changes: if the index falls into the BuyersAdvantage zone (below 30) for a long period, prices are likely in for a downward correction.

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Days on MarketThe properties have been on the market for an average of 166 days. Half of the listings have come newly on the market in thepast 77 or so days.


Days on Market per QuartileIt is not uncommon for the higher priced homes in an area to take longer to sell than those in the lower quartiles.


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Single Family Hom

04 30 12 Market Update [Sf] Az Cave Creek-2

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