Buyers are continuing to find Waldo a desirable place to live, even with the interest rate hikes of last year. The number of homes changing owners was about the same as December 2022–but the values are way up. Let’s look at the stats:
| december 2023 | december 2022 | |
|---|---|---|
| Median list price: | $264,000 | $240,000 |
| Median sales price: | $262,500 | $235,000 |
| No. of homes sold: | 16 | 18 |
| Days on market: | 2 | 25 |
Last month buyers paid within 1% of the list price–that’s good to hear, we don’t need constant frivolous bidding wars, especially for first time buyers. Prices rose almost 12% compared to December 2022. The lowest closed price was $122,500 and the highest was $480,000. Below is a graph for the five year trend of Waldo single family home sales:
| 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|
| Median list price: | $289,950 | $265,000 | $249,975 | $222,500 | $222,450 |
| Median sales price: | $296,000 | $275,000 | $260,000 | $229,900 | $217,475 |
| No. of homes sold: | 267 | 301 | 410 | 375 | 358 |
| Days on market: | 3 | 3 | 3 | 4 | 10 |
Waldo home prices rose 7.6% 2022-2023 and values are up 36% since 2019. You can see in this chart how inventory has fallen–25% fewer homes are selling because there are not enough homes to satisfy demand. With interest rates sliding down (however don’t expect 3 or 4% this year!), more buyers will try this spring to purchase, resigned to the higher rates compared to a couple of years ago. These trends show, Waldo homes are a very good investment for homebuyers! Contact me if you are interested in buying or selling in Waldo!
Inside Brookside (And Waldo) 