Cave Creek 85331 home sales through October 2026: what the numbers show

Nov 13

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Redfin's latest read on ZIP 85331 says the median Cave Creek sale price for the three months ending October 2026 was $939,518, up 21.6% from a year earlier. That sounds like a boom. The 12 month numbers tell a calmer story: 619 sales at a median of $865,000, about 4.6 months of supply, and more than half of today's listings have already cut their price. Here is what sold, and how to read the gap.

The short answer Over the 12 months ending November 11, 2026, 619 homes with a Cave Creek 85331 address sold at a median of $865,000 after a median of 58 days on market, closing at 97.67% of final list price. Redfin's three month median through October 2026 is higher at $939,518, but short windows swing with the mix of homes that closed. With about 4.6 months of supply, the market is close to balanced, and price matters more than timing.

What sold in 85331: the numbers

12 month sales: 619 homes at a median of $865,000, or $357 per square foot (Arizona Luxury Partners 85331 page, ARMLS via Flexmls, Nov 11, 2025 to Nov 11, 2026)
Three month median: $939,518, up 21.6% year over year (Redfin 85331 housing market page, three months ending October 2026)
Sales count: 126 for October 2026, down 10.4% from 141 a year earlier (Redfin, October 2026)
Pricing: 96.7% sale to list, 6.5% sold above list, 37.3% of homes with price drops (Redfin, October 2026)
Supply: 238 homes listed, median list price $982,000, about 4.6 months of supply (Arizona Luxury Partners 85331 page, Nov 11, 2026)
Listing success rate: 68%, with 619 closed and 296 cancelled or expired (Arizona Luxury Partners 85331 page, 12 months to Nov 11, 2026)

The Cave Creek 85331 homes for sale page carries the full 12 month table, a 10 year price history, and every active listing. On it, 26% of last year's sales went under contract within 30 days, at about 98% of list price on average. Another 23% took more than 120 days, and those closed at about 87% of their original list price.

Why the two medians do not match

Redfin's $939,518 covers three months. Our $865,000 covers twelve. The three month figure is about 8.6% higher, calculated by Arizona Luxury Partners, and that gap is mostly about which homes happened to close, not about every home gaining value.

About 39% of 12 month sales in 85331, 243 of 619, closed at $1 million or more. A few extra large or newer homes closing in a short window lifts the median quickly. The Cave Creek luxury homes for sale page shows homes at $1.5 million and up sold at a median of $1,950,000, and the Cave Creek new construction homes page shows 29 new homes sold at a median of $1,606,602 over the past 12 months, both as of November 6, 2026.

The opposite can happen too. Next door in Carefree, Redfin shows a three month median of $699,641 for 85377, down 19.0%, on a sales count of just 10 for October 2026. Our Carefree 85377 homes for sale page shows 134 sales at a median of $1,112,000 over 12 months. A handful of sales cannot carry a percentage change that large with any confidence.

Where the 85331 numbers come from

ZIP 85331 is a mailing area. It includes homes inside the Town of Cave Creek and homes inside Phoenix city limits with a Cave Creek address. Tatum Ranch homes for sale are one example: 146 sold over the past 12 months at a median of $626,500, as of November 12, 2026. The broader Cave Creek homes for sale page shows the same 619 sales at $865,000 as of November 12. See where Cave Creek and Tatum Ranch sit on our Northeast Valley map.

What it means for buyers and sellers

The most telling number may be this one: 127 of the 238 active 85331 listings, about 53%, had already had a price change on November 11. Redfin's price drop share is up 6.6 points from a year ago. Sellers are testing high and adjusting. Buyers have more room to negotiate on homes that have been listed a while.

If you are buying in 85331

Compare a home against recent sales in the same neighborhood and price range, not the ZIP median. A $626,500 Tatum Ranch median and a $1,950,000 luxury median live in the same ZIP code.
Check price history. A listing that has already been reduced tells you something about where the seller started.
Ask about concessions. 33% of 12 month sales included a seller concession, with a median of $10,000 among those that had one.
Avoid this mistake: reading the 21.6% headline as proof that prices are running away. Over 12 months, homes still closed below original list price at the median.

If you are selling in 85331

Price for the first 30 days. Homes that sold within a month closed near 98% of list, while those that sat past 120 days closed near 87% of original list.
Use sales of homes like yours. The ZIP median mixes horse property, golf homes, new builds, and Phoenix city lots.
Avoid this mistake: pricing off the three month median. If your home is not the kind that pushed the median up, buyers will compare it with closer matches.

The honest caveats

Redfin and our pages use different data cuts, periods, and day count definitions. Never blend them into one figure.
Redfin's October sales counts are labeled for October 2026 and may not line up with a single calendar month of closings. Small counts, like Carefree's 10, swing hard.
Medians move with the mix of homes sold. A rising median does not mean every home rose.
ZIP figures blend very different neighborhoods and price points. Your home's value depends on its own comparable sales.
Figures change daily. Check the live pages for the latest numbers.

Frequently asked questions

What is the median home price in Cave Creek 85331 right now?

Over the 12 months ending November 11, 2026, homes with a Cave Creek 85331 address sold at a median of $865,000, or $357 per square foot, based on ARMLS data calculated by Arizona Luxury Partners. Redfin puts the median for the three months ending October 2026 at $939,518. The 12 month figure is the steadier read because it rests on 619 sales.

Why did Redfin show 85331 prices up 21.6% from last year?

Redfin compares a three month median with the same three months a year earlier, and a short window moves with the mix of homes that closed. If more large or newer homes sold this fall, the median rises even if no single home gained that much. Treat it as a signal to watch, not a measure of what your home gained.

How long does it take to sell a home in Cave Creek 85331?

The median was 58 days on market over the past 12 months on our 85331 page, and Redfin shows a median of 81 days for its October 2026 window. The two use different definitions and periods, so they will not match. Well priced homes often go faster: 26% of last year's sales went under contract within 30 days.

Is Cave Creek 85331 a buyer's market or a seller's market?

With 238 listings and about 52 sales a month, 85331 has about 4.6 months of supply, which is close to balanced. Redfin rates it somewhat competitive with a Compete Score of 40. In practice it depends on price range and condition, so compare against recent sales of similar homes.

How far below list price do Cave Creek 85331 homes sell?

Over the past 12 months the median sale was 97.67% of final list price and 96.03% of original list price. Redfin shows a 96.7% sale to list ratio for October 2026, with 6.5% of homes selling above list. Homes that sat more than 120 days closed at about 87% of their original list price on average.

How many 85331 listings have had a price cut?

On November 11, 2026, 127 of the 238 active 85331 listings had already had a price change, about 53%. Redfin separately reports 37.3% of homes with price drops for October 2026, up 6.6 points from a year earlier. Both point to sellers adjusting after launch more often than last year.

What share of Cave Creek 85331 sales are $1 million or more?

243 of the 619 sales in the past 12 months closed at $1 million or more, or 39%. Cave Creek homes at $1.5 million and up sold at a median of $1,950,000, with about 8.6 months of supply as of November 6, 2026. Supply is deeper at the top of the market than in the ZIP overall.

How does Cave Creek 85331 compare with Carefree 85377?

Carefree 85377 had 134 sales at a median of $1,112,000 over the 12 months ending November 11, 2026, against 619 sales at $865,000 in 85331. Both show about 4.6 months of supply. Carefree homes took longer to sell, a median of 87 days compared with 58 in 85331.

What does listing success rate mean?

It is the share of listings that left the market over the past 12 months that closed instead of being cancelled or expiring. In 85331, 619 closed and 296 were cancelled or expired, a 68% success rate. A listing that was cancelled and relisted counts as cancelled.

Is ZIP 85331 the same as the Town of Cave Creek?

No. ZIP 85331 is a mailing area, and it includes homes inside the Town of Cave Creek and homes inside Phoenix city limits that carry a Cave Creek address, such as Tatum Ranch. Taxes, services, and rules follow the actual city or town, so check the property's jurisdiction with the county assessor.

The bottom line

Cave Creek 85331 is not booming and it is not slipping. Over a full year, 619 homes sold at a median of $865,000, supply sits near 4.6 months, and two of every three listings that left the market closed. The 21.6% three month jump is mostly a mix story. Price against close comparable sales, and expect to negotiate on homes that have lingered. For the latest figures, see our market insights.

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Your advisors

Kyle Hermann
Associate Broker | Realtor®
602.814.7266
kyle@azluxurypartners.com
License BR665419000
Meet Kyle

Cheryl Solano
CRS® | Realtor®
480.518.0181
cheryl@azluxurypartners.com
License SA541911000
Meet Cheryl

Art Buck
Associate Broker | Realtor® | CCIM
480.510.7689
art@azluxurypartners.com
License BR014102000
Meet Art

Arizona Luxury Partners | Real Estate Group at RE/MAX Fine Properties

Sources

Arizona Luxury Partners, Cave Creek 85331 homes for sale page, ARMLS via Flexmls, figures as of November 11, 2026. Link
Redfin, 85331 housing market page, data for the three months ending October 2026, viewed November 13, 2026. Link
Redfin, 85377 housing market page, data for the three months ending October 2026, viewed November 13, 2026. Link
Arizona Luxury Partners, Carefree 85377 homes for sale page, figures as of November 11, 2026. Link
Arizona Luxury Partners, Cave Creek and Tatum Ranch homes for sale pages, figures as of November 12, 2026. Link
Arizona Luxury Partners, Cave Creek luxury and Cave Creek new construction homes for sale pages, figures as of November 6, 2026. Link
Gap between medians calculated by Arizona Luxury Partners: $939,518 (Redfin, three months to October 2026) divided by $865,000 (ARMLS, 12 months to November 11, 2026), about 8.6% higher. Price change share: 127 of 238 active listings, about 53%.

All information provided is deemed reliable but is not guaranteed and should be independently verified. This article is for general information only and is not financial, lending, legal, or tax advice. Arizona Luxury Partners | Real Estate Group at RE/MAX Fine Properties, 21020 N. Pima Road, Scottsdale, AZ 85255. Brokerage License LC629808000. Equal Housing Opportunity.

Kyle Hermann