Lately it seems like Brookland is seeing increasingly expensive houses hit the market, so we decided to look at the numbers. Sure enough, according to Redfin and Zillow real estate sites, the median sold price in Brookland is up 34.7% over this time last year.
I’m no expert, but from what I understand, the more telling figure is the home value index. This figure is calculated by taking the median sold $/sq.ft. – and this is the actual value of homes that are sold. Basically, this number is a better representation of what someone is willing to pay in our area. Check out the home value index for Brookland over the last 10 years, you can see that we are definitely recovering from the downtown in the market; although I would suspect we still need a few more months of data to proclaim a full rebound. In any case, the take away is that the home value index for Brookland is up 19.1% from this time last year, and I’ll take that happily. Any comment from the real estate wonks out there?