Another impressive posting for price per square foot for Grayhawk real estate. Both March and April came in at $236/sqft. It is normal to see strong Grayhawk home values as we blast through the spring but we expect it to continue due to the low supply with limited supply coming near term. In most years, prices would taper into the fall as increased inventory would enter the market. Last month, we talked about the reason for the spike being that most of the homes sold in Grayhawk were on the east side of Hayden where the homes have higher values. But what’s the reason for the high average this month?
How about the $2.2M beauty that closed in Serenity at Grayhawk. This spec home closed at $404/sqft. If we remove it from the mix, our average sales price per sqft drops to $225. That’s closer to the norm. I share that because I want you to be prepared for when we may see a slight decline in the average next month. But that is the odd things about averages, there is always a reason but it is still the actual numbers and a barometer reading of a hot market stair stepping back to respectable ranges.
To price property accurately I use guidelines I learned from appraisers. To my credit I’ve been inside significantly more Grayhawk homes than any appraiser and I think that makes a difference. After I find a legit group of comparables I adjust it according to market trends. It’s why I’ve been able to tell the last 71 homeowners their value within 2% of the actual sales price prior to it selling.
Want to know what your Grayhawk home is worth today? We offer free at www.GrayhawkHouseValue.com
