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 2022||August 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 2022||Jan-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.)