Brookside Home Prices Rise Over 12% This Year

Home prices in Brookside….up, up UP!  When will it stop?  It is still a sellers’ market, as it has been all year.  Take a look at these numbers, my friends, and the comparison to last year. You will understand why you keep hearing stories of bidding wars for homes in our neighborhood.

Here are the single family home sales stats for Brookside (zip code 64113) for July 2016, and comparisons to last year:

July  2016

Median list price:               $339,950

Median sales price:           $345,000

Average days on market:     28

Number of homes sold:        26

(Lowest sales price was $178,000; highest sales price was $3.246 million, the highest so far this year.)

Note that the sales price was higher than the asking price.  Out of the 26 homes that closed, 14 sold at or over list price. Also, note that the number of homes is way down compared to July 2015 (usually it runs around 50 or so) — lack of inventory pushes prices up.

July  2015:

Median list price:                $325,000

Median sales price:            $319,750

Average days on  market:    36

Number of homes sold:        42

Now let’s check year to date figures:

2016, January to July    

Median list price:         $367,900

Median sales price:     $361,000

191 homes sold; average 39 days on market

2015, January to July

Median list price:         $325,000

Median sales price:     $320,000

216 homes sold; average 39 days on market      

Brookside home prices are up 6.31% compared to July 2015 and up 12.8% year to date.

Traditionally, demand slows in the second half of the year.  I’m not seeing that–when listings pop on the market priced between $200-$450K in Brookside, they are usually under contract in a day or two (if updated, well maintained and priced at market value).  It is the buyers that offer more than asking price if there is a bidding war.  Some of these homes are selling for $25,000 over the list price.  This is an interesting market for the appraisers!!

Currently there are 49 active single family listings in the Brookside zip code of 64113; most of those (30) are priced over $500,000.  The median price is $650,000. If you are looking in the $1 million+ price range–there are eleven to choose from!

(All information taken from Heartland MLS; deemed reliable but not guaranteed.)

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