All last year I was reporting the fast home sales and high sales prices of Armour Hills homes. So how did the year end up compared to 2019? I’ve got the stats for you here; first will report on the December 2020 home sales.
|December 2020||December 2019|
|Median list price: $325,000||$402,000|
|Median sales price: $321,000||$397,000|
|No. of homes sold: 13||2|
|Days on market: 15||24|
At first glance, it looks like home values dropped quite a bit compared to December 2019. But look at the number of homes that closed: in 2019 it was just two; last month 15 homes closed! That’s unusual for the month of December. In addition, homes went under contract quicker–during colder holiday months during a pandemic. Let’s look at YTD numbers for the past five years:
Comparing home prices from 2019 to 2020, there was an increase of only .9%! I was surprised it wasn’t more–many Armour Hills properties sold for way over asking price, by several thousands of dollars. However if you compare 2018 to 2020, values shot up 9% and since 2016, up a whopping 25% in five years. Many homes went under contract within a week.
Currently there are no homes for sale in Armour Hills. Two properties went on the market last week; both were under contract within one day.
(All stats taken from Heartland MLS; deemed reliable but not guaranteed.)