Whether you’re planning on buying or selling the Grayhawk neighborhood of Arizona it helps to know the home prices, property values, days on the market in general market trends. If you’re buying your home it helps to know what prices are like currently and if you’re selling it helps to know about how much you plan on getting for the home.
This real estate market report is for June, 2015 for the Grayhawk neighborhood north of Scottsdale Arizona.
The median list price is currently $545,000 with a median list price per square foot at $216. The median sale price to list price is nearly 98%, which means that most home sellers are receiving an average or a median sales price of 98% of their list price.
Home prices topped out in 2006 at $675,000 and gradually dropped to the lowest in 2011. Since then, they have been rising dramatically and especially over the last six months have increased faster than over the last seven years.
Currently, as of the publishing of this post there are 52 properties for sale. The highest priced home in Grayhawk is $3,499,000. This is for a four bedroom, six bath home with 8100 ft.² and has currently been on the market for 97 days.
The lowest price home in Grayhawk is $245,000 for a three bedroom and two bath home with 1152 ft.² and is only been on the market for three days.
If the home is priced correctly these on the market on average are between 10 and 60 days. Homes that are overpriced tend to sit on the market between 100 and 150 days. According to the local MLS, the longest time frame at home has been on the market recently as 358 days for a three bedroom, 2 1/2 bath home with 2400 ft.² priced at $650,000. Either this home is overpriced or does not meet its value. A properly priced home regardless of the price can typically sell within 2 to 3 weeks.
If you are a buyer, there are usually numerous open houses on the weekends so a drive through the neighborhood on a Saturday or Sunday could provide you with one to four open houses.
This market report is for all properties including townhomes, condominiums, single-family homes and estates on large lots. The higher-priced homes are usually to the north along Overlook Drive bordering the golf course. These are larger lots with homes over 5000 ft.². Other than these, the majority of homes are between $300,000 and $700,000.
For more information on the current market trends, details on the specific neighborhood are complex in Grayhawk or pricing your home to sell feel free to contact me at any time or browse my website for more information on the Grayhawk neighborhood.