We are in the dog days of summer, my friends, and I’m still busy helping buyers and sellers with residential real estate! Usually, mid August to mid September is a slow period, with late summer vacations, back to school preparations, the Labor Day holiday. But this is not a normal year and so many homes in our area continue to go under contract within a few days of listing. Here’s the stats for July 2020 for single family homes in Brookside, and a year-to-date comparison:
|July 2020||July 2019|
|Median list price: $425,000||$377,500|
|Median sales price: $425,000||$370,000|
|No. of homes sold: 33||36|
|Days on market: 5||20|
Last month, a buyer paid over asking price for a $1million+ home! Usually the more expensive properties sit for several weeks; this one went for $115K over asking price! As you can see, sellers were getting at or above asking price for their homes.
And here’s where we are YTD:
|Jan-July 2020||Jan-July 2019|
|Median list price: $387,475||$389,950|
|Median sales price: $393,750||$382,500|
|No. of homes sold: 152||190|
|Days on market: 8||24|
Although fewer homes have sold so far this year (partly due to the pandemic, I’m sure–sellers deciding not to move); homes are selling faster and running about 1.6% over list price compared to last July. We’ve had two $1million+ homes close this year, and overall, prices are up almost 3%.
Currently there are 22 homes for sale in Brookside, with an average list price of $974,000 and 65 days on market. That average price is so high because half of the homes for sale are priced at over one million dollars.
(All stats taken from Heartland MLS; deemed reliable but not guaranteed.)