The home sales stats for this month–and year to date–capture the idiosyncratic market we are in. Home prices are down, yet buyers still paying over asking price. Interest rates have trickled down, yet not enough inventory for those who want to buy. Let’s take a look at the details; I’m using the main Brookside zip code of 64113 for the numbers:
| august 2024 | august 2023 | |
|---|---|---|
| Median list price: | $582,000 | $637,500 |
| Median sales price: | $602,500 | $645,000 |
| Days on market: | 2 | 2 |
| No. of homes sold: | 30 | 20 |
You can see that the median sales price dropped 6.5% from last August; yet buyers paying about 3% over the asking price. More homes changed owners as well and still go under contract quickly. There were five $1,000,000+ sales last month; the lowest closed price was $350,000. Here are the YTD figures:
| jan-aug 2024 | jan-aug 2023 | |
|---|---|---|
| Median list price: | $550,000 | $575,000 |
| Median sales price: | $575,000 | $582,000 |
| Days on market: | 3 | 3 |
| No. of homes sold: | 175 | 179 |
So far this year, prices are down slightly, just 1.2% and the number of homes sold remains steady. We are still experiencing some bidding wars! Buyers are paying about 4% over list price. Currently there are 23 homes for sale in Brookside, with a median price of $635K; eight homes are listed at over $1,000,000.
(All stats taken from Heartland MLS; deemed reliable but not guaranteed.)
Inside Brookside (And Waldo) 