So how much have home values changed in Brookside since 2016? In the past five years? I’ll give you the answers in this blog…but take a guess before reading if you like! Here’s a hint: they have increased, not decreased. First, we’ll start with December 2017 numbers; all figures based on the main Brookside zip code of 64113:
December 2017 December 2016
Median list price: $439,000 Median list price: $335,000
Median sales price: $442,000 Median sales price: $329,248
No. of homes sold: 27 No. of homes sold: 20
Days on market: 29 Days on market: 36
In December 2017, eight homes sold at or over list price, and sixteen homes homes closed at over $400K. Now let’s look at year end figures, with comparisons to the past five years:
Median list price: $395,000 Median list price: $350,000
Median sales price: $386,000 Median sales price: $350,000
No. of homes sold: 296 No. of homes sold: 325
Days on market: 20 Days on market: 34
In one year, Brookside home values increased 10.2%. Fewer homes sold (not due to lack of demand; due to lack of inventory) and in a shorter amount of time. (Of course home value depends on many factors, including location, condition, size, etc.) The lowest sales price in 2017 was $168,500 and the highest was $3.225 million.
For reference, the 2015 median sales price was $329,000; 2014 was $306,500 and 2013 was $296,750. In five years, homes have appreciated about 30%.
I predict Brookside will have another strong year for home sales, with demand especially high in the $200,000-$350,000 price range.
(All figures taken from Heartland MLS; deemed reliable but not guaranteed.)