Low inventory translates to higher sales prices, especially in the coveted $400K and under price point. Once again, median sales prices exceeded the list price. The stats below are for the main Brookside zip code of 64113, single family homes:
|August 2020||August 2019|
|Median list price: $417,500||$385,000|
|Median sales price: $440,000||$380,000|
|No. of homes sold: 38||26|
|Days on market: 3||20|
Over 20 homes closed last month at or over the list price. Keep in mind the majority of those homes were priced under $500K. Buyers are making offers quickly and bidding wars are common. The lowest closed price last month was $272,500 and the highest was $1.85 million. One house in Armour Hills closed at $60K over asking price!!!
Here are the year-to-date stats:
|Jan-Aug 2020||Jan-Aug 2019|
|Median list price: $392,450||$389,950|
|Median sales price: $400,000||$380,000|
|No. of homes sold: 190||217|
|Days on market: 8||22|
In 2020, Brookside home values are up 3.27% compared to last year–a healthy stat! It will be interesting to hear how the year ends up. More inventory is needed in the under $400K price point. Currently there are 21 active single family home listings in Brookside, with a median list price of $795,000–very high due to the amount of million dollar plus homes on the market. Fourteen homes are priced over $500K and 9 of those are over a million. Current days on market is 79.
Thank you for reading my blog! If you need assistance with Brookside residential real estate-please contact me!
(All stats taken from Heartland MLS; deemed reliable but not guaranteed.)