Happy 2023! This feels like a typical January–very cold weather and hoping Chiefs keep winning in the playoffs! Time to take a look at the December 2023 home sales figures, and the end of year/5 year trend recap as well. And the trend is… higher prices, less inventory. Typical! I’m tracking single family home sales in the main Brookside zip code of 64113:
| december 2023 | december 2022 | |
|---|---|---|
| Median list price: | $575,000 | $490,000 |
| Median sales price: | $575,000 | $501,000 |
| No. of homes sold: | 15 | 22 |
| Days on market: | 18 | 15 |
Sales prices were up 14% compared to December 2022; fewer homes changed owners and the days on market was about the same. The lowest closed price was $405,000 and the highest was just over $2.8 million. Below I’ve charted the five year trends:
| 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|
| Median list price: | $550,000 | $492,450 | $459,950 | $419,000 | $389,950 |
| Median sales price: | $572,000 | $500,000 | $475,000 | $416,000 | $380,000 |
| No. of homes sold: | 246 | 294 | 338 | 326 | 301 |
| Days on market: | 3 | 3 | 3 | 8 | 23 |
These numbers tell us a few things:
*Home values up 14% from 2022-2023, up 50% since 2019.
*Homes are selling faster, and inventory continues to decline.
*For the past three years, most buyers pay list price or above.
Unless more homeowners are willing (or must) give up the lower interest rates for a move, prices will continue to rise due to a lack of inventory. As interest rates drop, more buyers will want to buy to take advantage of a lower payment. One thing is always consistent: the best time to buy a home is when you are financially able and ready for home ownership!
Inside Brookside (And Waldo) 