Here we are in the thick of the busy home buying and selling season and despite the much higher interest rates, so many houses are still going under contract very quickly, often for over asking price. I think buyers have “gotten used to” these higher rates and although their dollars can’t buy as much, they still want to own a home. And yes, there is still a lack of inventory.
Here are the stats for the main Brookside zip code of 64113, single family home sales:
| May 2023 | May 2022 | |
|---|---|---|
| Median list price: | $575,000 | $462,500 |
| Median sales price: | $582,500 | $487,400 |
| Days on market: | 2 | 2 |
| No. of homes sold: | 28 | 36 |
Although fewer homes sold, most houses are going under contract within 48 hours and home values rose 19% compared to May 2022. We had two multi-million dollar closings last month; the lowest closed price was $376,500 and the highest was $2.2 million. And you can see that buyers are paying list price or above. Here are the year-to-date numbers:
| Jan-May 2023 | jan-May 2022 | |
|---|---|---|
| Median list price: | $567,000 | $492,450 |
| Median sales price: | $576,000 | $516,500 |
| Days on market: | 4 | 2 |
| No. of homes sold: | 90 | 120 |
So far this year, 30% fewer homes have sold yet home values jumped up 11% compared to 2022. Many buyers pay over asking price….I know this sounds redundant to hear every month, but that’s the way it is!!
Currently there are just 11 homes for sale in the 64113 Brookside zip code, ranging in price from $409,900 to $10 million. The median list price is $850K and 31 days on market.
(all stats taken from Heartland MLS; deemed reliable but not guaranteed.)
Inside Brookside (And Waldo) 