The old saying in real estate is true: what matters is location, location, location. It’s the first question I ask potential buyer client. And what drives commercial real estate prices in a certain location? It’s the condition of the properties; the convenient, sought after area;  the nearby residents who will support the local businesses; the street atmosphere, landscaping, and walk score.

Butch Rigby

Thanks to local real estate tycoon Butch Rigby and a handful of other local investors, “Brookside East” is on the brink of becoming a sought after destination for new businesses..and in turn will should home values nearby. We already have a solid core of  shops at 63rd and Oak; Butch and his pals have purchased several buildings to the east of that intersection. The Brookside Gardens Event Center (in the former Alanz Theater at 624 E 63rd St) will open in the fall. I think this may be the only commercial event space in Brookside that will seat 250 people. Construction workers are busy inside, completely renovating the interior to include a prep kitchen for caterers,  dance floor, an outdoor patio, bathrooms and a second floor ‘bridal suite’ for wedding parties to gather before the reception. Butch is working with a specialty architect to restore the front of the building to the way he believes it looked when built. Heritage Events will be the operator of this space; and various special events and weddings are already scheduled for later this year.

Home of the KC Juice Company

Directly east of Brookside Gardens will be the Kansas City Juice Company (634 E 63rd St) , operated by Robin Krause and partner Amy Bartosik (formerly of The Filling Station). Robin plans to open in September. She will offer 90% organic and local products, featuring salads, sandwiches, cold pressed juices, protein treats, coffee and juice cleanses. There will be six inside tables in this unique, A-frame building plus a drive through outside! And next to the juice spot will be 63Brookside apartments–a three story, 23 unit building scheduled to open next year.

Across the street at the southwest corner of Holmes and 63rd, Butch is renting space to: Can I Have A Bite?, moving to Brookside from a Waldo location on Wornall; plus Golden & Pine, a home goods store, and he’s working on leasing to a wellness center. Butch is very conscious of the tenants he wants as a landlord–he explained he has ‘turned down so many businesses that would not fit and would not be the right use in this area. We want a solid, vibrant, healthy corridor of businesses as the block spreads east to Troost”. He also is renovating an office building on the south side of 63rd east of Oak.

All of this new development is very exciting for the Brookside area..and it’s especially fortunate the owners are local business people who know our neighborhood rather than outside developers. With successful new commercial and retail space blossoming along this long ignored corridor, you should see home values pulled up as well. As the months go along, I’ll blog about the individual new shops and spaces as they open to the public. Brookside East…a welcome improvement to the neighborhood!

We are at the halfway mark for 2015 home sales….so how are we doing here in Brookside? Home values are up!  Let’s examine the single family home sales for June 2015 in the Brookside zip code of 64113:

In June 2015, 56 homes sold.  The median list price was $325,000 and the median sales price was $325,000.  Average days on market: 30.

In June 2014, 29 homes sold.  The median list price was $294,000 and the median sales price was $286,000.  Average days on  market: 15.

The lowest sale price last month was $115,100 and the highest was $1,8 million–that was the newer built house on Meyer just east of the fountain that has been on the market for a couple of years now.    

Note the median list price and sales price were the same:  sellers are getting very close to their asking price, if priced properly.  This reflects the lack of desireable inventory for buyers to choose from when home shopping.  

Checking year to date figures:

From January through June 2015, 174 homes sold with a median list price of $325,000 and median sales price of $320,000 and 41 days on market.  

From January through June 2014, 132 homes sold. The median list price was $304,900 and median sales price was $295,000 and 33 days on market.

So far Brookside home values are up 8.47% compared to last year.

Currently there are 70 single family homes for sale in the Brookside zip code of 64113, with a median list price of $479,950.  In the sought after price range of $200-$300K, only 14 homes are listed.  In contrast, 32 homes are priced at over $500K, with ten over the $1million mark. As I write this blog today, the Wall Street Journal has a front page story about the lack of inventory across the US for home buyers–in many markets, buyers have to go several thousand dollars over the asking price to secure the contract. Yes, that has happened in our metro area as well.

(All stats taken from Heartland MLS and deemed reliable but not guaranteed).

This Sunday, July 19, the annual Brookside Bluegrass Festival is happening at the Wornall Road Baptist Church, 400 W Meyer. Outside entertainment with local bands, food, and games for the kids begins at 4pm…and all are welcome!

The featured artist this year is Flatt Lonesome, a six member band that plays bluegrass with soaring harmonies, laced with traditional country sounds, progressive jams and gospel music.  The band was named Emerging Artist of the Year for 2014 by the International Bluegrass Music Awards program.  So if you like to see emerging, buzzed-about musicians in small, intimate spaces…this is the show for you as the group will perform in the church!

The Brookside Bluegrass Festival benefits athletic programs at neighboring Southwest High School.  Tickets for the show range from $12-$25, and are available online at brooksidebluegrass.com.

Flatt Lonesome

Who doesn’t love browsing in Brookside?  Even better if you can pick up a few bargains!  The annual Brookside Sidewalk Sale starts Thursday July 9 and runs through July 12.

Many shops will be participating and showing off their discounted items each day along 63rd St east of Wornall.  I especially like stopping by Worlds Window–two years ago I bought a sterling silver ring at the sale for $10 that my daughter has ‘borrowed’ and never returned!  Also of note is 5B and Co. Candlemakers on Brookside Plaza–they have a “Beach Blanket” scent I want to try…to get me geared up for our upcoming Florida vacation!

And remember, the Brookside Farmers’ Market is open on Saturday mornings, with more and more fresh fruits, vegetables and baked goods every week. Summer’s bounty is here!  You can stock up on fresh food as well as bargains Saturday morning in Brookside.

Thank you for supporting our locally owned Brookside merchants!

How is your summer so far this year?  Are you admiring all the bright green grass and blooming flowers in Brookside?  Many potential homebuyers are…prices are up once again for May, 2015.  We are in the middle of the busiest part of the year for home sales, and Brookside continues to be a desirable location for new residents.  Let’s look at the single family home sales for May, 2015 for the main Brookside zip code of 64113:

In May 2015, 46 homes sold.  The median list price was $320,000 and the median sales price was $3310,000.  Average days on market: 29.

In May 2014, 36 homes sold.  The median list price was $304,900 and the median sales price was $293,000.  Average days on  market: 32.

The lowest sale price last month was $165,500 and the highest was $1,165,000 on the 800 block of W 55th St, cash.  

Checking year to date figures:

From January through May 2015, 118 homes sold with a median list price of $325,000 and median sales price of $319,000 and 47 days on market.  The $1.6 million sale referenced above is the highest for the current year.

From January through May 2014, 103 homes sold. The median list price was $314,000 and median sales price was $300,000 and 37 days on market.

So far Brookside home values are ahead of last year by 6.3%!  

Currently there are  63 active single family homes for sale in Brookside (zip 64113) with a median price of  $475,000  and 48 days on market. Ten homes are priced over $1million; 26 of the 63 for sale have a price tag over $500,000.  This pushes the median price up.  Still a lack of good inventory for buyers in the $250-$350 range.

(All stats taken from Heartland MLS and deemed reliable but not guaranteed).