Yes, home prices in Brookside are going up…and that is good news for both buyers and sellers! I’ll explain why after we get through the stats. All figures are for single family homes in zip code 64113, the main Brookside zip code:
In June 2012, 53 homes sold. Average list price was $329,457 and average sales price was $319,169.
In June 2011, 34 homes sold. Average list price was $305,192 and average sales price was $289,060.
That’s a 10% increase! Let’s compare year-to-date:
From January-June 2012, 135 homes sold, with an average sales price of $310,790.
From January-June 2011, 107 homes sold, with an average sales price of $298,802.
That’s a 4% increase from last year. Notice the number of homes sold increased for each period as well.
Higher average sales prices can be explained a number of ways: fewer foreclosures and short sales dragging prices down; pent-up demand from buyers who finally decide to buy; less inventory pushes prices higher; continued record-low interest rates. The higher average prices favor sellers who make more money from the sale of their home. This year’s buyers are paying more than last year, however, they can feel more confident about purchasing in a still desireable location where homes are gaining, not losing, value. I’m predicting the overall sales and average price for 2012 will be higher than 2011.
If you would like home sales statistics for your particular location, email me!
(Note: all figures taken from Heartland MLS, deemed reliable but not guaranteed)