Blogging from Brookside in Kansas City: January 2012

Prairie Village KS--Home Sales Statistics 2011

I love selling homes in Prairie Village, Kansas! I often refer to Prairie Village as the “Brookside” of Johnson County. Developed by JC Nichols, Prairie Village offers homes at a wide range of prices, tall trees, parks tucked in here and there, well-respected public schools and locally owned shops and restaurants within walking distance of many moderately priced homes.

So how are Prairie Village homes holding their value in this depressed housing market? Let’s compare average prices from 2010 to 2011:

In 2011, 389 homes sold in Prairie Village. The lowest sales price was $55,000; the highest was $1.6 million. Average list price was $215,539 and average sales price was $206,755. Average days on market: 98.

In 2010, 374 homes sold in Prairie Village. The lowest sales price was $70,000; the highest was $850,000. Average list price was $223,940 and average sales price was $215,179. Average days on market: 72.

Clearly, the values dropped in 2011 compared to 2010. Part of this decrease in value is due to the continuing glut of foreclosures and short sales that drag down prices; also, buyers wanting ‘a bargain' as the housing market limps along in it’s third slump year, so they make low offers compared to the sticker price. More homes sold in 2011, which is a good sign, but the average price needs to climb. Still, Prairie Village remains a popular city for homebuyers, especially those who don’t want to live in the far out suburbs but want easy access to most parts of the metro area.

Homes that are well maintained, updated, and priced well still continue to sell. As we head into the busy spring buying season with an economy that’s into a slow but steady recovery pattern, let’s hope home prices rise to offset the decrease in value the past few years.

If you are interested in home sales statistics for your neighborhood, send me an email request for information. (Note that all stats are taken from Heartland MLS; deemed reliable but not guaranteed).

Mary Hutchison, SRES, ABR

(Brookside/Armour Hills resident, local business supporter, NPR fan, Habitat ReStore volunteer, thankful for the gift of another day!)

**********

Better Homes and Gardens Real Estate/Kansas City Homes

mary.hutchison@kansascityhomes.com

816 510 1262

www.maryhutchison.org

 

Comment balloon 0 commentsMary Hutchison, SRES, ABR • January 29 2012 02:09PM
Prairie Village KS--Home Sales Statistics 2011
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