The home sales report for Armour Hills last month shows fewer homes closed yet prices still going up. Sound familiar? It’s happening city-wide this year. Let’s take a look at the details; I’m posting stats about Armour Hills, a large subdivision in Brookside:
| june 2023 | june 2022 | |
|---|---|---|
| Median list price: | $430,000 | $390,000 |
| Median sales price: | $476,250 | $430,000 |
| Days on market: | 2 | 2 |
| No. of homes sold: | 6 | 9 |
Last month buyers paid almost 11% over the asking price for Armour Hills properties, and 1/3 fewer homes closed. The lowest sales price was $425K and the highest was $541K.
Here are the year-to-date numbers:
| jan-june 2023 | jan-june 2022 | |
|---|---|---|
| Median list price: | $415,000 | $395,000 |
| Median sales price: | $436,000 | $420,000 |
| Days on market: | 2 | 2 |
| No. of homes sold: | 27 | 43 |
The YTD figures show us that home values in Armour Hills are up 3.8% so far, although fewer homes changed ownership. Buyers are paying an average of 5% over the list price. This is the halfway mark for 2023 sales in Armour Hills; the 3.8% increase is normal; fewer homes selling can be attributed to fewer people want to sell (and give up a low interest rate) and deciding to stay put for now.
Currently there are two homes for sale in Armour Hills, with a median list price of $402,500 and three days on market.
(All stats taken from Heartland MLS; deemed reliable but not guaranteed.)
Inside Brookside (And Waldo) 