Brookside Home Sales Report – August 2022

The home sales market is balancing out a bit since interest rates keep rising…for only the second time this year, most closed sales prices are less than list price–meaning buyers have some negotiating power. Let’s take a look at the stats, using the main Brookside zip code of 64113 for this report:

August 2022August 2021
Median list price:$525,000$524,900
Median sales price:$510,000$510,000
Days on market: 4 3
No. of homes sold: 29 31

Comparing the numbers from August 2021, the list price and sales price are the same; in 2022, every month except August and February, most buyers were paying list price or over. Last month, the ratio from list to sales price dropped almost 3%. The highest closed sale last month was $1,287,000 and the lowest was $255,000. Below are the year-to-date numbers:

Jan-Aug 2022Jan-Aug 2021
Median list price:$499,000$469,995
Median sales price:$510,000$485,000
Days on market: 3 2
No. of homes sold: 209 227

Overall this year, buyers were paying about 2% over the list price; sales prices are up 5% over last year. Interest rates have doubled since the beginning of the year however the well priced, well maintained and updated homes are still selling quickly!

Currently there are 24 active single family homes listed in Brookside, ranging in price from $250K-$4,000,000. The median list price is $502,000; half the listings have prices over $500K.

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

Armour Hills Home Sales Report-July 2022

Buyers keep flocking to Armour Hills as a Brookside home location; although the number of homes closed last month was less than the previous year. I suspect this was due to the higher interest rates that kicked in this Spring. Let’s take a look at the numbers:

July 2022July 2021
Median list price:$399,000$375,000
Median sales price:$410,000$395,000
Days on market: 10 2
No. of homes sold: 5 11

Home values are up 3.7% compared to July 2021. Of the five properties that closed last month, the lowest price was $375,000 and the highest was $452,000 (which was $51K over the list price!). Here are the year-to-date numbers:

January-July 2022January-July 2021
Median list price:$397,000$365,000
Median sales price:$419,000$390,000
Days on market: 2 2
No. of homes sold: 48 45

Compared to the same period last year, home prices are up 7.4% in Armour Hills, and we are on track with the same number of properties changing owners. Currently there are four active listings, ranging from $329,000-$439,900 and 31 days on the market.

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

Waldo Home Sales Report-July 2022

Wonderful Waldo, homebuyers want to live there and prices keep going up as a result! There’s been a big gain in home values compared to last year, as you’ll see with the stats below. Let’s start with the July numbers; I’m using Waldo boundaries of Gregory to 85th and State Line to Holmes for the numbers:

July 2022July 2021
Median list price:$285,000$234,500
Median sales price:$301,000$260,000
Days on market: 3 2
No. homes sold: 35 32

Homes that closed last month were about 5% over the asking price; and values rose 15.7% compared to July 2021. The lowest closed price was $150K and the highest was $525,000.

Here are the year-to-date stats:

January -July 2022January-July 2021
Median list price: $259,000 $250,000
Median sales price: $278,000 $265,000
Days on market: 3 2
No. homes sold: 187 233

Overall, home prices are up 4.9% this year as compared to same period last year. And buyers are still paying over the list price. You’ll note fewer houses selling; 25% less than a year ago. This could be a result of higher interest rates that kicked in this spring.

Currently there are 18 single family homes for sale in Waldo with an average list price of $270,500 and 17 days on the market. Prices range from $139,000 to $485,000.

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

Brookside Home Sales Report-July 2022

We have some interesting home sales stats for this month’s Brookside home sales report–a big increase in price compared to last year, but fewer homes sold. Let’s take a look at the specifics; I am using the main Brookside zip code of 64113 for this info, single family homes:

July 2022July 2021
Median list price:$540,000$434,500
Median sales price:$530,000$460,000
Days on market: 3 3
No. of homes sold: 35 28

Home values rose 15% compared to July 2021, yet many buyers ended up paying just under the list price last month–whereas last July, when interest rates were much lower, buyers were paying over asking price. Homes are still going under contract quickly–within a few days. Last month, four homes closed over $1,000,000; the highest closed sale was $1.7 million and the lowest sale was $310,000. Now let’s look at the year-to-date numbers:

Jan-July 2022Jan-July 2021
Median list price:$495,000$450,000
Median sales price:$510,000$478,000
Days on market: 2 2
No. of homes sold: 181 196

These figures show a 6.5% increase in home prices YTD compared to the same period in 2021; buyers paying about 3% over asking price. Fewer homes sold so far this year; this could be a result of the higher interest rates that started in the Spring. Currently there are 14 active single family homes for sale in Brookside, with an average list price of $429,950 and 20 days on the market.

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

Waldo Home Sales Report – June 2022

Halfway through the year for Waldo home sales and the stats are showing a bit of a slowdown to what we’ve been experiencing for the past several months: buyers are still paying over the asking price, and newly listed homes going under contract within 48 hours. Yet the number of units sold — big drop. Here are the details for single family homes in Waldo; I use the street boundaries of Gregory to 85th St and State Line to Holmes:

June 2022June 2021
Median list price:$240,000$255,000
Median sales price:$250,000$270,000
No. homes sold: 27 49
Days on market: 2 2

There was a 7.4% drop in median sales price compared to June 2021 and fewer homes sold. Part of the reason for this could be the interest rate hikes that started this Spring–that can have an affect on buyers’ budgets. Here are the year-to-date numbers:

Jan-June 2022Jan-June 2021
Median list price:$250,000$255,000
Median sales price:$275,000$265,000
No. homes sold: 149 195
Days on market: 2 2

This chart shows us the number of units closed is down 23% compared to last year, and prices are up 3.7%. Fewer units available for sale pushed the closed price higher as some houses are still experiencing multiple offers for the well maintained, well priced properties.

Currently there are 13 homes listed in Waldo, with a median list price of $314,900 and six days on the market.

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

Armour Hills Home Sales Report- June 2022

Home values in Armour Hills continue to rise, and last month we had the third highest closed sale ever–it’s very rare for an Armour Hills house to sell for over $700K but it happened again! Here are the stats for this Brookside subdivision:

June 2022June 2021
Median list price:$390,000$337,500
Median sales price:$430,000$347,500
No. of homes sold: 9 8
Days on market: 2 2

Overall, home values are up 23% compared to June 2021! The highest sale last month was $701,000 on a list price of $660,000. The lowest sale was $365,000.

Here are the year-to-date numbers:

Jan-June 2022Jan-June 2021
Median list price:$395,000$365,000
Median sales price:$420,000$367,450
No. of homes sold: 43 34
Days on market: 2 2

Compared to the first six months of last year, home values are up 14%; buyers are paying 6% over asking price. With interest rates rising, we’ll see how the end of the year shakes out–if prices come down somewhat. There is still a lot of demand so I don’t foresee a big plunge in home sales at all. Currently there are five homes listed in Armour Hills with an average price of $405,000 and ten days on the market. The ten day figure shows you that at least some homes are not going under contract within 48 hours of listing. Of those five homes, all listed within the three weeks, three of them have had price reductions.

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

Armour Hills Home Sales Report-May 2022

Last month we had a record high sale price for a home in Armour Hills; it was a flipped property by an investor. And the buyer paid over asking price! Here are the details:

May 2022May 2021
Median list price:$385,000$365,000
Median sales price:$429,000$363,000
No. homes sold: 11 9
Days on market: 2 2

Buyers paid an average of 11% over asking price; a few more homes sold compared to May 2021. The highest sold price was $713,000, which was $28K over the list price! The lowest closed price was $360,000. Here are the year-to-date numbers:

Jan-May 2022Jan-May 2022
Median list price:$397,000$367,450
Median sales price:$419,000$379,000
No. homes sold: 34 26
Days on market: 2 2

Breaking down these numbers, buyers are paying about 5.5% over asking price and home values are up just over 10% compared to the same period last year. Currently there are four active listings in Armour Hills, with a median list price of $500K and 13 days on the market.

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

Waldo Home Sales Report-May 2022

With interest rates on the rise, will the hot Waldo housing market slow down? Personally, I don’t think so. There may be fewer multiple offers and perhaps price reductions, but there is still so much demand for houses in Waldo, especially priced under $300K. Here are the stats for May, using sales in the street boundaries of State Line to Holmes and Gregory to 85th St, single family properties.

May 2022May 2021
Median list price:$297,500$265,000
Median sales price:$318,000$278,500
No. of homes sold: 26 32
Days on market: 2 2

Buyers paid almost 7% over asking price last month with their offers; and compared to a year ago, values are up a whopping 14%! Below are the year-to-date numbers:

Jan-May 2022Jan-May 2021
Median list price: $250,000 $250,000
Median sales price: $278,000 $264,500
No. of homes sold: 119 148
Days on market: 3 2

These figures show us that fewer homes have sold this year; still prices up 5% over 2021. The lowest closed price so far this year is $45,000 and the highest is $650,000. Currently just twelve active single family house listings, ranging in price from $217,950-$535,000 and 12 days on the market.

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

Brookside Home Sales Report-May 2022

May is one of the busiest months for home sales–and although Brookside had fewer closed transactions last month, prices are still way up. Here are the stats for single family home sales in Brookside, using the main Brookside zip code of 64113:

May 2022May 2021
Median list price:$462,000$509,000
Median sales price:$487,400$530,000
No. homes sold: 36 47
Days on market: 2 2

Although overall, home values were down compared to May 2021, buyers still paid about 5% over asking price. The lowest closed sale last month was $360K and the highest was $1,575K ($75,000 over list price!). Here are the year-to-date numbers:

Jan-May 2022Jan-May 2021
Median list price:$489,900$450,000
Median sales price:$515,000$464,000
No. homes sold: 121 130
Days on market: 2 2

Following the YTD trend, buyers are paying about 5% above asking price and values are 10% higher over last year. We will see in the coming months if the higher mortgage rates slow down the Brookside market and/or affect the prices. I am seeing some price reductions in Brookside and homes staying on the market longer…one thing for sure, the market is always changing!

Currently there are 17 active listings in Brookside, ranging in price from $365K-$4,000,000. Five homes are priced over $1million; only three are listed under $400,000.

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

Waldo Home Sales Report – April 2022

Spring is so lovely in Waldo! Even when we have spring showers. Are you enjoying the longer days and cooler nights? More daylight hours for house shoppers! Prices were up last month in Waldo compared to a year ago; here are the numbers:

April 2022April 2021
Median list price: $247,000$244,500
Median sales price: $275,000 $264,250
No. of homes sold: 28 42
Days on market: 3 3

Waldo home values rose about 4% over April 2021. Lowest closed price last month was $75,000 and the highest was $450,000. Now let’s look at the YTD numbers:

Jan-April 2022Jan-April 2021
Median list price: $244,000 $250,000
Median sales price: $261,000 $264,250
No. of homes sold: 95 116
Days on market: 3 3

These figures show a very slight decline in sold prices compared to 2021–just 1.2%. Note that fewer homes sold so far (probably due to lack of inventory); yet buyers are still paying well over list price and homes go under contract quickly.

Currently there are just five active single family homes for sale in Waldo, with a median price of $218,000 and 16 days on the market.

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