You may have heard via national news that home sales are down this year–partially due to the higher interest rate. That is true for Waldo as well–at least according to last month’s stats. Let’s take a look; I’m using data for single family homes using the boundaries of State Line to Holmes, Gregory to 85th St.
| july 2023 | july 2022 | |
|---|---|---|
| Median list price: | $250,000 | $285,000 |
| Median sales price: | $270,000 | $303,000 |
| Days on market: | 2 | 3 |
| No. of homes sold: | 19 | 34 |
Most buyers are still paying over asking price; however prices last month dipped 12% from July 2022. Also, 44% fewer homes sold. Why? I think many first time buyers have dropped out of the market for now due to the higher interest rates. That’s one reason….their budget can’t stretch enough for what they want. The lowest closed price last month was $170K and the highest was $452K. Her are the YTD numbers:
| jan-july 2023 | jan-july 2022 | |
|---|---|---|
| Median list price: | $289,950 | $259,000 |
| Median sales price: | $296,000 | $278,000 |
| Days on market: | 3 | 3 |
| No. of homes sold: | 161 | 177 |
Looking at the year-to-date trend, home values are up almost 6.5% and 9% fewer homes have changed hands this year. Currently there are 8 single family homes for sale in Waldo, with a median price of $339,000.
(All stats taken from Heartland MLS; deemed reliable but not guaranteed.)
Inside Brookside (And Waldo) 