It’s a new year of home sales stats and compared to a year ago, there was a dip in prices last month. However, keep in mind that in January 2022, interest rates were still around 3%; this year they have doubled. That has slowed down the market.
Let’s take a look at the numbers, using single family home sales in the main Brookside zip code of 64113:
|January 2023||January 2022|
|Median list price:||$429,975||$585,000|
|Median sold price:||$430,075||$585,000|
|No. of homes sold:||16||13|
|Days on market:||49||14|
You can see there was quite a drop in the median sold price; yet most sales were very close to list price. And some of the homes that closed sat on the market for a while before getting under contract, which explains the longer days on market number. The lowest closed price last month was $230K and the highest was $2.75 million. There’s still a lack of inventory for buyers to consider and I think that will continue through the year.
(All stats taken from Heartland MLS; deemed reliable but not guaranteed.)