The spring home buying market is in full swing and Brookside home values continue to rise over last year. Inventory of well maintained and updated homes is low, and demand is high. Here are the stats for the main Brookside zip code of 64113 for April 2014 and a year-to-date comparison:
In April 2014, 24 homes sold. Average median sales price was $345,000 and 58 days on market. The lowest sales price was $156,040 and the highest was $980,000.
In April 2013, 20 homes sold. The average median sales price was $285,000 and 84 days on market. The lowest sales price was $115,000 and the highest was $610,000.
We had a few more homes sell in April 2014 and a substantial uptick in average price- almost 22%. We have such a wide range of sales prices in Brookside that it really affects the average sales price when more higher priced homes sell. Days on market is also lower this year–meaning it takes less time for a property to go under contract.
Checking year to date figures:
From Jan-April 2014, 67 homes sold at a median sales price of $298,000 and 75 days on market.
From Jan-April 2013, 83 homes sold at a median sales price of $285,000 and 108 days on market.
The lower number of homes selling is affected by the lack of inventory, thus pushing prices up. I’ll share a personal story of what I experienced recently with a client. A property came on the market in an excellent Brookside location, nicely updated with good features and curb appeal. My buyer offered full price the same day it was listed. There were four offers total and the listing agent told me the winning bid was $10K OVER asking price. This same home sold two years ago for $317,000 and the current owner had not made any substantial improvements. I’ve heard the same story for homes in Prairie Village, Leawood and Overland Park. It is a true seller’s market for the ‘good’ homes.
Currently there are 89 single family homes for sale in the Brookside zip code of 64113 with an average median list price of $400,000 and 125 days on market. About one-third of the 89 homes are priced over $1million.
(All stats taken from Heartland MLS and deemed reliable but not guaranteed.)