From the Cave Creek Museum
Kraig Nelson, historian and docent
The original Cave Creek Road ran along the creek with the same name since 1873. Continual flooding forced Cave Creek Road to shift east to its current location in 1927. In 1928, a store was constructed in the shadow of Black Mountain on the “new” Cave Creek Road. Not so surprisingly, the store was called the Black Mountain Store. The store sold groceries; dry goods like fabric, thread, coffee, flour, tea and toiletries; Native American jewelry; gas and oil. It was also the outpost for the Maricopa County Free Library. In later years the store became one of the top epicurean destinations in metropolitan Phoenix; the restaurant was called Trois Amis. This building is the oldest commercial building in Cave Creek! You can carefully explore this historic building today, especially if you’re hungry for pizza. Today, it’s known as Oregano’s Pizza Bistro, the fourteenth opened in metropolitan Phoenix, in 2014.
Realty Reality
October 2017
Multiple Listing Service (ARMLS) data published September 2017
Kraig R. Nelson, Associate Broker
Carefree -
Sold volume (dollar amount) was 250.60% higher (seems high, but correct); active listings [85] were 22.73% lower; and the median sold price [$600,000] was 4.33% lower, compared to one year ago. Average days on market were 316. 13 residential units closed escrow.
Cave Creek -
Sold volume (dollar amount) was 1.60% higher; active listings [243] were 15.92% lower; and the median sold price [$402,500] was 5.96% lower, compared to one year ago. Average days on market were 110. 64 residential units closed escrow.
Scottsdale -
Sold volume (dollar amount) was 10.31% higher; active listings [2,341] were 8.23% lower; and the median sold price [$406,000] was 4.37% higher, compared to one year ago.
Average days on market were 98. 694 residential units closed escrow.
enix
(city only)
-
Sold volume (dollar amount) was 11.46% higher; active listings [3,800] were 3.72% lower; and the median sold price [$229,950] was 6.15% higher, compared to one year ago.
Average days on market were 62. 1,960 residential units closed escrow.
Kraig’s Comments-
· Distressed sales (short sales and lender owned) represent 2.30% of the total sales volume.
· There is a 2.65-month supply of residential inventory in the Phoenix Metro Area. A balanced market for buyers and sellers is considered to be about 6 months.
· Total residential inventory is 9.40% lower [21,462 units] than one year ago.
·
Entire Phoenix Metro Area
:
median sold price is $245,000; 6.50% higher than one year ago
. Average days on market were 68.
· Average sold price compared to original list price is 96.85% in the Phoenix Metro Area. This means a home listed for $400,000 sells for about $387,400.
· Production new-home “spec” (or speculation) count is 2,181; 170 fewer than 6 months ago. (from
Ultimate New Homes Newsletter
)
·
Total Phoenix Metro residential units sold and closed last month: 8,113. This is 3.40% higher than one year ago.
·
Total dollar amount for Phoenix Metro
residential units sold and closed: $2,372,358,330 (that’s
2 billion, 372 million
- rounded for conversation).
This is 11.04% higher than one year ago.
