85331, Cave Creek, AZ

The 85331 zip code in Cave Creek, AZ has a median home value of $269,900 and a median home equity of $137,000. The 85331 zip code is located in the Phoenix metropolitan area and has a population of approximately 25,000.

The average price per square foot for homes in the 85331 zip code is $128. This is higher than the national average of $107 per square foot and indicates that homes in this area are more expensive than average. Additionally, the percentage of homes that are owner-occupied is higher than the national average (68%). This may be due to the high median home value or because there are more families with children living in this area.

There has been an increase in home values over the past five years, although it appears to be leveling off recently. Inflationary pressures may have caused some homeowners to sell their homes at an increased price and buy another property at a lower price. Alternatively, some people may have decided to stay put and wait for prices to increase even further. Either way, it's likely that prices will continue to rise over time as demand increases and supply remains relatively static.