The story of this market
The typical home in ZIP 85331 sells for about $949,700, or $391 per square foot.
Prices are down 12.2% from a year ago, which gives buyers more room to negotiate. Homes take about 53 days to sell. HUD's fair market rent for a two-bedroom is $3,600 a month.
ZIP 85331 — Cave Creek
The 85331 housing market is currently balanced, with a median sale price of $949,700 and a moderate supply of homes. While year-over-year price growth has seen a decline, the market remains stable with homes selling near asking price. High interest rates and seasonal inventory shifts are the primary drivers of current market activity.
This ZIP is ideal for affluent families and retirees seeking a desert lifestyle with spacious lots, high-quality schools, and proximity to outdoor recreation.
Median prices moved down 12.2% year over year.
Homes spend a median of 53 days on market with 26.2 months of supply — a slower-moving market.
13% of listings have cut prices · homes sell at 98% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 3.5% · poverty 4.0% — a stable, low-distress profile.
versus the prior ACS vintage
ZCTA 85331, Maricopa County AZ
Crime rates in the Cave Creek area are generally low, with the region consistently reporting lower violent and property crime rates compared to the broader Phoenix metropolitan area.
The area is served by highly-rated public schools within the Cave Creek Unified School District, which is recognized for strong academic performance and community engagement.
The region faces moderate wildfire risk due to its desert-foothill location and occasional flash flooding during monsoon season, necessitating standard hazard insurance coverage.
Economic momentum is driven by a mix of high-end residential development, tourism, and proximity to the North Scottsdale employment corridor, with ongoing infrastructure improvements to support growth.
Composed from the ARED governance burden registry — tier-native tax structure (state + county + city + special districts), never averaged. State (Arizona) — Senior Property Valuation Protection Option (Senior Freeze): Provides a 'freeze' on the valuation of the property for tax purposes, limiting the growth of the property tax burden for eligible seniors. State (Arizona) — Arizona Property Tax Assessment: The tax is calculated by applying an assessment ratio to the property's Limited Property Value (LPV). For primary residential property (Class 3), the assessment ratio is 10%. State (Arizona) — Arizona Property Tax Assessment: Property tax is calculated using the formula: (Full Cash Value or Limited Property Value) x Assessment Ratio = Net Assessed Value. The Net Assessed Value is then multiplied by the local tax rate. For primary residential property (Class 3), the assessment ratio is 10%. State (Arizona) — Delinquent Property Tax Lien Sale and 3-Year Redemption Foreclosure: The county treasurer sells a tax lien certificate via public auction to the investor bidding the lowest annual rate of interest (ranging from 16% down to 0% per annum under A.R.S. § 42-18114). State (Arizona) — Statutory Residential Homestead Exemption: Exempts up to $400,000 of equity in an owner-occupied primary dwelling from attachment, execution, and forced sale arising from unsecured civil judgment liens.
Commuters typically rely on private vehicles for travel toward the Phoenix employment core, with major access via Cave Creek Road and the Loop 101 freeway.
The area features extensive access to desert trails, regional parks like Cave Creek Regional Park, and proximity to upscale shopping and dining in the town center.
The rental market is characterized by high-end single-family home offerings with limited inventory, maintaining steady rent levels despite seasonal fluctuations.
The local economy is anchored by tourism, hospitality, and professional services, with significant employment spillover from the nearby North Scottsdale business hubs.
Transportation is almost exclusively automobile-dependent, with major arterial roads connecting the area to the regional highway network.
Development is focused on low-density residential expansion and the preservation of desert open space, with limited high-density commercial projects.
The Maricopa County Assessor determines property values annually based on market sales data and property characteristics.
Parcels are subject to Cave Creek Unified School District taxes and various county-level special service districts.
Property insurance premiums are influenced by wildfire risk assessments and the proximity to fire protection services.
Data retrieved from data.census.gov ZCTA 85331 profile.
Public schools whose reported address is in this area (NCES). Not attendance boundaries — schools that serve residents may sit outside it. Check the district's address locator for assignment.
Large regional park offering extensive hiking, biking, and equestrian trails.
Protected desert landscape known for scenic trails and riparian areas.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.