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.)