Let’s start with another example of how far some buyers will pay over asking price….in March, an Armour Hills home sold for $52K over the list price!. With interest rates on the rise, will buyers pull back on the bidding wars? We will find out…my guess is there will still be multiple offers for the most desirable, updated homes, but instead of 15 offers, perhaps 5-8 offers. Here are the March stats for Armour Hills in Brookside:
| March 2022 | March 2021 | |
|---|---|---|
| Median list price: | $382,500 | $299,500 |
| Median sales price: | $402,000 | $307,000 |
| No. homes sold: | 4 | 2 |
| Days on market: | 2 | 3 |
The lowest closed price was $385,000 and the highest was $414,500. Values are up almost 31% over March 2021. Here are the year-to-date numbers:
| Jan-March 2022 | Jan-March 2021 | |
|---|---|---|
| Median list price: | $399,950 | $337,500 |
| Median sales price: | $414,500 | $356,888 |
| No. homes sold: | 11 | 10 |
| Days on market: | 4 | 2 |
Sold prices are up16% over the same period last year. The highest closed price so far this year in Armour HIlls was $535,000. As of this post, there are no homes in Armour Hills for sale; there are 12 under contract.
(All stats taken from Heartland MLS; deemed reliable but not guaranteed.)
Inside Brookside (And Waldo) 