The town of Carefree was founded in the 1950s by K.T. Palmer and Tom Darlington, and incorporated in 1984. It covers about 8.5 square miles of beautiful Sonoran Desert, and is bordered by the town of Cave Creek to the west, the Tonto National Forest to the north, and the city of Scottsdale to the south and east. Known for its sundial located in the center of town, and for its whimsical street names, the town of Carefree suggests a leisurely style of life. Home construction began in the late 1950s and continues through today, but thanks to strict zoning regulations, its architecture blends in with its desert surroundings, and its population density remains low. While there are custom home sites and horse properties in the outlying areas, the subdivisions closer to the center of town tend to consist of townhouses, patio homes, apartment style flats, and single family detached homes – of which eighteen different ones are highlighted to the right.
Carefree, and its neighbor to the west, Cave Creek, always seem to have some entertaining events in the works. Check out the following link to learn more.
A Statistical Perspective of Carefree Real Estate
Per data from ARMLS, since August 2007 there have been 72 closed listings among these eighteen subdivisions, of which only 16 were distressed properties (short sales or lender owned). There are presently 16 active listings, including 1 lender owned property, resulting in an estimated 12.8 months worth of inventory. Reviewing the data from only the 56 normal sales, this period has seen an average decline in value of 30.7%, from about $205/sqft down to $142/sqft. A time series chart is shown below to help illustrate the results. |
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