I just went into the MLS and ran the report for you. Right now, there are 568 single family homes on the market in Cave Creek. For the lowest priced 250 properties, the average days on the market is 146. For the 88 homes priced over $1,000,000, the average days on the market is 214!!!
There are currently 36 homes pending or under contract in all of Cave Creek right now. These homes have been on the market about an average of 200 days.
So far in 2007, there have been 359 homes sold. It appears these were on the market an average of approximately 150 days. This shows that homes that are priced correctly will sell and those overpriced will sit.
Hope this helps. I am working on a Cave Creek website. See link below.