In Prairie Village, new-construction houses going for $700K — and sitting next to homes valued at $200K

As Prairie Village officials prepare to take a set of proposed design guidelines before residents in a series of public meetings starting this week, one thing is certain: The wave of teardown-rebuild projects that have hit the city over the past two years are fundamentally changing the housing market in pockets of the city. Many of the local residents are even saying “sell my house now before I lose it.”

For proof, you need look no further than three under-construction projects currently listed as for sale (or recently sold) on real estate websites, where new construction homes are going for around $700,000 — and neighboring properties are generally valued at $175,000 to $225,000.

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(Read more: Prairie Village Post)

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