The state of Grayhawk’s Real Estate Market is healthy overall all. Prices are rising. Inventory is down.
The tide has turned and we hope the worst days are in the rear view mirror. I want to give a little history for comparison to make my initial statement very clear. I wrote a blog post in April of 2011 and at that time there were 102 Grayhawk homes for sale. That was similar to 2003 when I first moved to Grayhawk and there were 99 homes for sale but significantly fewer homes than in 2009 when we have over 160 homes on the market. Currently, there are 46 homes for sale listed in Grayhawk and we are selling about 23, monthly. That means there is 2 months’ supply which is below the average of 3-5 months.
Prices are rising. If you read my article in the Grayhawk Flight in August I stated price rose 1% a month for the first 6 months of the year. That trend has continued. Grayhawk home prices are up 11+% since January. With low inventory levels and favorable interests, we expect this to continue for the foreseeable future.