Home sales typically start off slow every year..that’s what is happening in Brookside as we kick off housing market reports for 2016. Why are sales sluggish? I’ll provide some answers after reporting Brookside home sales (using zip code 64113) for January 2016:
In January 2016, eight homes sold. The median list price was $369,500 and the median sales price was $367,500. Average days on market: 25. The highest sales was $441,500 and the lowest was $262,500.
In January 2015, nine homes sold. The median list price was $325,000 and the median sales price was $315,000. Average days on market: 24.
Stats were about the same as a year ago, as in number of homes sold and days on market. You’ll notice that median sales price jumped up. (Brookside home prices rose 11% from 2014 to 2015.) Prices can vary dramtically in the Brookside zip code, so numbers can be skewed depending on how many higher priced homes close in any given month.
So why are home sales slow early in the year? A few reasons: the weather is typically cold, wet, snowy in the few months of the year (homes always look better in the Spring); home sellers are preparing their homes for the market (freshening up the inside, decluttering, making improvements); and many families want to move once school lets out for the year. There just isn’t much inventory for buyers to choose from in the first quarter--which can actually be an advantage for those sellers who have homes prepped and ready to market in February and March. Note that ten homes were listed and then under contract in January--buyers are out there ready to purchase!
Currently there are 48 homes for sale in Brookside, with a median list price of $579,000 and 97 days on market. Sixteen homes are priced over $1,000,000. There is a lack of inventory in the $225-$300K price range, yet high demand. If you would like specific information about home selling in your area-contact me at email@example.com
(All figures taken from Heartland MLS; deemed reliable but not guaranteed.)