So it looks like Waldo home values have slumped a bit compared to last year–understandable for a couple of reasons: the higher interest rates have knocked out some traditional first time buyers who flock to Waldo for a starter home and fewer buyers are bidding up prices. Let’s take a look at the numbers:
| may 2023 | may 2022 | |
|---|---|---|
| Median list price: | $295,000 | $297,500 |
| Median sales price: | $296,000 | $318,000 |
| Days on market: | 2 | 2 |
| No. of homes sold: | 39 | 28 |
Last month the list price and sales price were virtually the same, yet the sales price was down 7% from May 2022. The lowest closed price was $165,000 and the highest was $539,000. Here are the year-to-date numbers:
| jan-may 2023 | jan-may 2022 | |
|---|---|---|
| Median list price: | $287,450 | $249,950 |
| Median sales price: | $282,250 | $278,000 |
| Days on market: | 5 | 3 |
| No. of homes sold: | 114 | 128 |
Checking out these stats, you can see that prices haven’t risen that much compared to last year-just 1.5% and fewer homes have closed. There is still a lack of inventory and the higher interest rates have had an effect on sales. Still we are in peak buying season through the warmer months–I’ll have the mid year report next month! Currently there are 9 homes for sale in Waldo, with a median price of $359,000 and 11 days on the market.
(All stats taken from Heartland MLS; deemed reliable but not guaranteed.)
Inside Brookside (And Waldo) 