Cave Creek, AZ Market Report November 2012
By Nancy Laswick, Your REALTOR® For The Valley Of The Sun
(United Real Estate)
Cave Creek, AZ Market Report November 2012 - Total Active Listings are up 7% over the past 30 days and 22% since June. - Lender Owned (REO) and Short Sales (SS) make up 10.8% of Total Active Listings. Like most of the Phoenix Metro area the number of Short Sales and Lender Owned listings in Cave Creek have steadily declined over the past 6 months. - Lender Owned (REO) prices had been declining over the past 6 months but are up sharply in November. This is due, at least in part, to the sale of a $1.5 Million REO property on 20 acres that sold at $449 per square foot. If I remove that one sale the average drops to $126 per square foot, an increase of 19% month over month. - Lender owned properties are selling quickly in Cave Creek, AZ averaging 70 Days On Market (DOM) and many are re...
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