The Waldo home sales stats for the month of May are in, and there was a surprising drop in prices compared to May 2023. Yet most buyers are still paying list price or above. Let’s take a look at the specifics; I’m using the boundaries of State Line to Holmes and Gregory to 85th St for the numbers, single family homes.
| MAY 2024 | MAY 2023 | |
|---|---|---|
| Median list price: | $249,000 | $289,950 |
| Median sales price: | $251,000 | $295,000 |
| Days on market: | 2 | 2 |
| No. of homes sold: | 21 | 37 |
Home prices dropped by 17% compared to last year, and fewer homes sold. One explanation could be more of the smaller, lower priced homes closed last month compared to a year ago; also the higher interest rates have shrunk the buyer pool. The lowest closed price last month was $85,000 and the highest was a new build on the 7600 block of Main at $675,000. Here are the year-to-date numbers:
| JAN-MAY 2024 | JAN-MAY 2023 | |
|---|---|---|
| Median list price: | $285,000 | $280,000 |
| Median sales price: | $295,000 | $279,500 |
| Days on market: | 3 | 5 |
| No. of homes sold: | 89 | 102 |
For the year, Waldo home values are up 5.5%–a healthy increase. Homes are still selling quickly even though fewer are changing owners. Currently there are 22 single family homes for sale in Waldo–that seems like quite a few! The lowest priced home is $200K and the highest is $669K–the second new build on the 7600 block of Main St.
(All stats taken from Heartland MLS; deemed reliable but not guaranteed.)
Inside Brookside (And Waldo) 