Another year of home buying in Brookside has come to a close…and even though our neighborhood is 100 years old, it remains quite popular! They don’t build houses like this anymore….
The first graph below outlines December 2022 single family home sales stats for Brookside (using the 64113 zip code); in the second graph, I’ve outlined sales for the past five years for comparison. Home values in Brookside…just keep rising!
|December 2022||December 2021|
|Median list price:||$490,000||$441,750|
|Median sales price:||$501,000||$436,750|
|Days on market:||15||4|
|No. of homes sold:||22||28|
Last month, we had six homes sell for over $1,000,000- the top sales price was $1,395,000 (cash!) and the lowest was $290,000. Although some houses sat on the market a little longer, most buyers are paying at or over list price–even with higher interest rates. Now let’s look at the five year trend:
|Median list price:||$495,000||$465,000||$419,000||$389,950||$405,000|
|Median sales price:||$500,000||$475,000||$417,000||$380,000||$397,000|
|Days on market:||3||3||8||23||18|
|No. of homes sold:||293||337||325||300||285|
Home values in Brookside have risen just under 26% since 2018; the number of homes that turn over each year is fairly consistent. Fewer homes sold in 2022 than the past two years, most likely due to the rapid rise in interest rates and the persistent problem of not enough inventory.
As a Realtor, I am asked quite often: what’s happening with home sales? Here’s something that is always true: buyers want updated, well maintained homes that are priced at market value. The higher interest rates have affected some buyers’ purchasing power, but there is still a great demand for homes in the Brookside/Waldo neighborhood. Owning a home can be an excellent long term investment!