Good morning neighbors! I have positive news to report again about home values in our Armour Hills subdivision. Prices are up–some sellers are getting over the asking list price! As a Realtor, I do not advocate offering a price that is significantly over the posted price. (it is happening very often this spring in the Prairie Village homes priced from $225-$300K). Still, it’s all about what the house is worth to a particular buyer….and the appraiser of course! Here are the home sales stats for Armour Hills in Brookside, Kansas City MO for the month of May, 2015:
In May 2015, eleven homes sold with a median list price of $256,900 median sales price of $262,000 and 36 days on market.
In May 2014, nine homes sold with a median list price of $259,000; median sales price of $252,000 and 76 days on the market.
The median sales price was higher than list price in May because: one home sold for $8500 over list price; another home sold $7000 over list price and a third sold $3000 over list price. When you take those three homes out of the equation, the median list price was $256,900; sales price $255,000–very close to asking price.
Checking year-to-date figures:
From January through May 2015, 35 homes have sold with a median sales price of $262,000 and 36 days on market.
From January through May 2014, 27 homes sold with a median sales price of $243,000 and 34 days on market.
Generally, homes are going under contract within one month of listing. Median prices are 7.5% over the same period in 2014. Currently we have 8 homes for sale in Armour Hills, with a median list price of $269,000. The lowest priced home is $174,900 and the highest is $300,000.
(All stats taken from Heartland MLS; deemed reliable but not guaranteed)