Cave Creek appreciation rates and housing market information

Cave Creek housing market information

With a population of 23,731, 14,555 total housing units (homes and apartments), and a median house value of $516,540, Cave Creek house prices are not only among the most expensive in Arizona, Cave Creek real estate also is some of the most expensive in all of America.

single-family detached homes are the single most common housing type in Cave Creek, accounting for 90.10% of the town's housing units. Other types of housing that are prevalent in Cave Creek include row houses and other attached homes (4.05%), large apartment complexes or high rise apartments (2.67%), mobile homes or trailers (2.25%), and a few duplexes, homes converted to apartments, or other small apartment buildings (0.74%).

Owner-occupied, three and four bedroom single-family detached homes are the most prevalent type of housing you will see in Cave Creek. Owner-occupied housing accounts for 81.01% of Cave Creek's homes, and 74.25% have either three or four bedrooms, which is average sized relative to America.

Cave Creek homes and real estate are some of the newest in America. 59.40% of Cave Creek's housing was built since 1995, making the town have a very new look and feel. If you like the amenities of newer homes and subdivisions, then you will probably like what the Cave Creek real estate market has to offer. Quit a bit of the housing here was also built between 1970-1994 (36.72%), and 1940-1969 (3.56%).

Vacant housing appears to be an issue in Cave Creek. Fully 11.78% of the housing stock is classified as vacant. Left unchecked, vacant Cave Creek homes and apartments can be a drag on the real estate market, holding Cave Creek real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Cave Creek home appreciation rates

Real estate appreciation rates in Cave Creek have tracked to near the national average over the last ten years, with the annual appreciation rate averaging 7.35% during the period.

Over the last year, Cave Creek appreciation rates have trailed the rest of the nation. In the last twelve months, Cave Creek's appreciation rate has been -17.99%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Cave Creek were at -1.47%, which equates to an annual appreciation rate of -5.88%.

Notably, Cave Creek's appreciation rate in the latest quarter is one of the lowest in America.

Relative to Arizona, our data show that Cave Creek's latest annual appreciation rate is higher than 8% of the other cities and towns in Arizona.