Blogging from Brookside in Kansas City: Kansas: Prairie Village

Prairie Village KS Homes in High Demand in 2015

  

Home sales in Prairie Village exploded in 2015...I’ve never seen such a feeding frenzy of buyers converge on new listings in that area before.  The real story here is in the mid-priced category--so many buyers were in  multiple offer situations.  Let’s take a look at the details:

 

In 2015:

*573 single family homes sold.

*Median list price was $215,000.

*Median sales price was $215,000.

*Average days on market was 22.

*Lowest sales price was $73,000; highest was $1.6 million.

 

That’s right--the median list price and sales price were the same.  Buyers often went over asking price.  I saw several closed sales at $10-$30K OVER list price.  In the critical first time buyer price range of $225,000-$300,000, 150 homes sold, with a whopping 78, over one half, of the homes selling at list price (25 units) or over list price (53 units).

 

 

Wow. That is a very tough market for buyers--most expect to pay a bit below list price, or at least take a second look at the property before making an offer.  That wasn’t possible last year--the nicely updated, well maintained homes (especially the ones within a few blocks of the Prairie Village shops) sold immediately, with the sellers often choosing from several contracts.

 

As a comparison, in 2014 there were 496 closed sales, with a median sales price of $206,500. The number of units sold jumped by 15% in one year, and the median sales price was up 3.9%.

 

Will 2016 be a repeat of 2015 for PV homebuyers? I predict it will be just as crazy.  If you are thinking of buying or selling a home in Prairie Village this year--contact me for a more detailed breakdown of home sales near your property. You can reach me at mary.hutchison@kansascityhomes.com. Thank you for reading my blog!



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 2 commentsMary Hutchison, SRES, ABR • January 18 2016 01:58PM
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