Cave Creek

2018 Sales Volume by City

The chart above is sorted by sales volume. Below, I’ve taken the same chart and sorted the cities alphabetically. You can decide which one works best for you.

AZ 190111 - all cities vol by city.jpg

Phoenix is far and away the leader of the Greater Phoenix Area, with 3-10 times (or more) the number of sales as most other suburbs. Mesa is the 2nd largest suburb, followed by Scottsdale, Gilbert, Chandler, and Glendale.

You’ll notice the East Valley cities typically have more volume than their West Valley counterparts, but there are also more West Valley cities dividing up the land. Overall the sales volume in the East and West Valley is fairly similar.

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- Chris Butterworth

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* All chart data represents single-family detached homes only. Information is believed accurate but not guaranteed.

 

Is there softness in the Cave Creek market?

Last month’s highest-priced home sale in Cave Creek of $985,000 was the first month in almost two years that the highest price home was less than $1,000,000. The highest-priced home was $695,000 in Feb ‘17, but every month since then has been over a million dollars, including 7 months over $1.5 million.

Was this just an inevitable statistical anomaly, or are we seeing the first signs of softness in the market? It’s too early to tell, but we’ll keep our eyes on it in the coming months.

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- Chris Butterworth

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Simple MLS Charts is supported by readers like you. If you find these charts useful, please consider becoming a patron with a small monthly pledge on Patreon.

* All chart data represents single-family detached homes only. Information is believed accurate but not guaranteed.

 

Luxury Market - Comparison by City

Take a look at the 10th most expensive home sold in each city, year to date.

I'm using the 10th most expensive home because there are extreme examples at the very top which distort the overall picture, even in the luxury market. This view doesn't consider the best of the best of the best (absolute most expensive), but it does a great job of showing which cities have a deeper luxury market.

There aren't many surprises at the high-end of the scale, although I would have expected Carefree to be higher on the list. Fountain Hills, Phoenix, Scottsdale, and Paradise Valley appear to lead the way in luxury.

HOWEVER - take that with a grain of salt. In order to fully understand the luxuriousness of a city, let's also consider its overall size/market.

  • Fountain Hills has had 14 homes sell for < $250,000 so far this year. So while 10 homes in the $1.7+ million range is a lot of luxury, the city also has a less expensive side.
  • Scottsdale has only had 7 sub-$250k sales. Higher on the high end, and less on the low end, than Fountain Hills.
  • Paradise Valley hasn't had any small-priced sales. This is a true luxury market city.
  • And Phoenix? Well, Phoenix is a very large market. Yes, the 10th most expensive home sold for $2.6 million, but there have also been 4,865 homes sold for < $250,000! Phoenix has some luxury neighborhoods, but I wouldn't call Phoenix a luxury city.

- Chris Butterworth

 

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Simple MLS Charts is supported by readers like you. If you find these charts useful, please consider becoming a patron with a small monthly pledge on Patreon.

* All chart data represents single-family detached homes only. Information is believed accurate but not guaranteed.

 

Luxury Market by City

The Axis on the left shows how many homes have sold for $1,000,000 or more so far, year to date (through May.) So, the higher the bubble is on the chart, the more luxury homes have sold in that city.

  • Scottsdale leads the way, with 381 homes selling for more than $1 million so far this year. Paradise Valley had 164, and Phoenix (at 112) was the only other city with more than 100 sales above $1 million.

The Size of the bubble shows the luxury sales as a percentage of that city's overall market.

  • While Scottsdale had more million dollar sales overall, Paradise Valley's market is made up almost entirely of luxury homes, with 84% of all sales being greater than $1,000,000. Scottdale's luxury market, in contrast, only makes up about 16% of the total market. Carefree (22%) and Fountain Hills (10%) are the only other cities with a significant luxury market.

- Chris Butterworth

 

What else can I do for you?

Learn about my full-featured  eNewsletter service .

Learn about my full-featured eNewsletter service.

Read my blog  about using email and building a tribe.

Read my blog about using email and building a tribe.

 
 

Simple MLS Charts is supported by readers like you. If you find these charts useful, please consider becoming a patron with a small monthly pledge on Patreon.

* All chart data represents single-family detached homes only. Information is believed accurate but not guaranteed.

 

Most Expensive Home is in Scottsdale, again.

I pulled the most expensive home sold in each city over the first 2 months of the year. (Top 12 cities are on the board.)

Scottsdale dwarfs all other cities, with a Maximum Sold Price of $17.50 million. Paradise Valley was next ($5.95 million), followed by Phoenix ($4.1 million), Gilbert ($3.5 million), and Chandler ($2.69 million). No other city had a single sale above $2 million.

- Chris Butterworth

 

Simple MLS Charts is supported by readers like you. If you find these charts useful, please consider becoming a patron with a small monthly pledge on Patreon.

 

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