If you know someone who bought or sold a house in Brookside last year…you probably heard stories of how ‘hot’ the market was. Many homes sold for over list price; buyers often faced multiple offers on the same home. In this blog, we’ll look at the December 2016 home sales and a year end recap, with a comparison to the last few years as well. Overall, median home prices continue to rise in Brookside! I’m using the main Brookside zip code of 64113 for this report, single family home sales.
Median list price: $335,000
Median sales price: $329,248
Average days on market: 36
Number of homes sold: 20
(Lowest sales price was $162,000; highest sales price was $770,000).
Seventeen of the twenty homes closed sold for under $450,000–that brings down the median price compared to one year ago (see below). Also, fewer homes sold in Dec 2016.
Median list price: $350,000
Median sales price: $341,000
Average days on market: 28
Number of homes sold: 27
Compared to December 2015, prices are down a bit. In Dec 2016, seventeen of the twenty homes closed sold for under $450K and fewer homes sold. In Dec 2015, more higher priced houses sold.
Now let’s check figures for 2016:
Median list price: $352,500
Median sales price: $350,000
324 homes sold; average 34 days on market. The lowest sales price was $162,000 and the highest was $3,246,000.
Median list price: $333,750
Median sales price: $327,500
342 homes sold; average 39 days on market.
Note that fewer homes sold in 2016–inventory was down, pushing prices up. Also, sellers were getting within 1% of the list price! Overall, median home prices in Brookside were up 6.8% compared to 2015.
For reference, here are median sales prices for the past few years as comparison:
2013: $295,000 (307 homes sold)
2014: $306,000 (290 homes sold)
2015: $327,500 (342 homes sold)
2016: $350,000 (324 homes sold)
Prices are up 18% in four years! Although interest rates are on the rise, I predict there will be a strong demand for updated, well maintained homes in our area this spring, especially in the $400K and under price range.
Currently there are 24 active single family listings in the Brookside zip code of 64113. Eighteen of those are priced under $400K; five are over $1million.
(All information taken from Heartland MLS; deemed reliable but not guaranteed.)