We are just about at the end of the year and I am very curious about how our Armour Hills home sales will finish out compared to 2013. As for the November 2014 stats, there is a drop in median sales price compared to a year ago. However--that’s the housing market: some months strong, other months are slow. No need to worry as overall, our nieghborhood is thriving. So let’s look at the Armour Hills home sales (in Brookside, Kansas City MO) for November 2014, with comparisons to one year ago:
In November 2014, six homes sold with a median sales price of $235,000 and 40 days on market. The median list price was $239,900. The lowest sale was $190,000 and the highest was $370,000.
In November 2013, four homes sold with a median sales price of $253,950 and 27 days on market. The median list price was $258,000.
The median price is lower from a year ago but when I post 2014 stats next month, I will compare final figures and the last few years as well to see the trend. There may be a drop in overall prices from 2013 to 2014.
This November drop in price is a repeat of October 2014 stats as well. Although more homes closed last month compared to 2013, there was a $398,000 home sale last year that brings the Oct 2013 median price up significantly. Overall, the $235K price is more typical for Armour Hills.
Now let’s compare year-to-date figures:
For the first eleven months of 2014, 61 homes sold with a median price of $239,950 and 31 days on market.
For the first eleven months of 2013, 75 homes sold with a median price of $255,000 and 20 days on the market.
We have 11 active listings in Armour Hills right now, with a median price of $269,900 and 66 days on market. The longer days on market, compared to the average, tells us these homes may be overpriced, or in need of some updating--that’s why they are still for sale. Buyers are out there, and they want to live in Brookside--most of them want move-in ready, updated homes. So they will wait until Spring when fresh new inventory hits the market.
(All figures taken from Heartland MLS; deemed reliable but not guaranteed.)