We are just a couple of days into March…and I am a bit late posting these January stats for Waldo home sales. No surprise here–prices keep going up! These are the sales figures for single family homes, using the boundaries of Gregory to 85th St; State Line to Holmes:
january 2023
january 2022
Median list price:
$260,253
$217,000
Median sales price:
$249,875
$215,000
Days on market:
33
4
No. of homes sold:
14
17
Home prices rose 16% compared to January 2022; and (some) homes are sitting on the market longer. Remember, a year ago, interest rates were around 3%. Still, that’s a pretty hefty increase in median sales price considering the interest rates have doubled. The lowest closed price was $152,500 and the highest was $470,000.
Currently there are 13 homes for sale in Waldo, with a median list price of $260,000 and 16 days on market.
(All stats taken from Heartland MLS; deemed reliable but not guaranteed.)
The home sales stats for Armour Hills last month reflect how much the housing market has changed in just one year. Remember, one year ago, interest rates were around 3% and sales were soaring! Let’s take a look at the numbers for this 900+home Brookside subdivision:
January 2023
january 2022
Median list price:
$349,900
$450,000
Median sales price:
$351,400
$475,000
Days on market:
92
3
Number of homes sold:
3
3
The median sales price dropped by 35% compared to one year ago! However, note that these stats reflect just three homes that closed. It’s worth looking at a few details, too. Just one home closed last month over the list price; the other two listings lingered on the market for several weeks as the list price dropped. The highest sold price was $565K, originally listed at $680K! The lowest closed price was $270,000.
Currently there are four listings for sale in Armour Hills, ranging in price from $335,000 to $715,000. The house priced at $715K (originally listed at $735K) was purchased in summer 2021 for about $50K over the list price (which was $649K)–so probably a bidding war. Now the price is $715K, less than two years later–and the market is very different now as interest rates doubled. There are still properties that command multiple offers–when they are priced at market value. It will be interesting to see what this property sells for.
(All stats taken from Heartland MLS; deemed reliable but not guaranteed.)
It’s a new year of home sales stats and compared to a year ago, there was a dip in prices last month. However, keep in mind that in January 2022, interest rates were still around 3%; this year they have doubled. That has slowed down the market.
Let’s take a look at the numbers, using single family home sales in the main Brookside zip code of 64113:
January 2023
January 2022
Median list price:
$429,975
$585,000
Median sold price:
$430,075
$585,000
No. of homes sold:
16
13
Days on market:
49
14
You can see there was quite a drop in the median sold price; yet most sales were very close to list price. And some of the homes that closed sat on the market for a while before getting under contract, which explains the longer days on market number. The lowest closed price last month was $230K and the highest was $2.75 million. There’s still a lack of inventory for buyers to consider and I think that will continue through the year.
(All stats taken from Heartland MLS; deemed reliable but not guaranteed.)
Another year of home sales in Armour Hills and I’m ready to report the specifics! Closed prices were off last month compared to December 2021; overall though, Armour Hills is still one of the most popular Brookside subdivisions for homebuyers! Let’s look at the specifics:
December 2022
December 2021
Median list price:
$385,000
$394,950
Median sales price:
$365,000
$394,500
Days on market:
3
45
No. of homes sold:
9
3
The lowest closed price last month was $290,000 and the highest was $477,000. The median price was down 7% compared to a year ago. Below, let’s take a look at sales numbers from the past five years:
2022
2021
2020
2019
2018
Median list price:
$399,000
$365,000
$345,000
$339,450
$315,000
Median sales price:
$427,000
$380,000
$344,000
$340,000
$315,000
Days on market:
3
3
7
21
9
No. of homes sold:
84
70
99
82
80
The trend is…higher prices! Since 2018, the median sales price for an Armour Hills house has risen 35%! Last year, buyers paid about 7% over the list price. The number of homes that changes owners each year is pretty consistent. This neighborhood is always one of the most popular for buyers looking in Brookside, and I don’t see that changing.
(All stats taken from Heartland MLS; deemed reliable but not guaranteed.)
I have some interesting numbers to report regarding last month’s Waldo home sales stats; although home sales are traditionally slower in the last quarter of the year, prices were down compared to December 2021; usually there is an increase year over year. Let’s take a look at the details; as usual, I’m using the street boundaries of Gregory to 85th and State Line to Holmes for the numbers:
December 2022
December 2021
Median list price:
$240,000
$255,000
Median sales price:
$235,000
$268,000
No. of homes sold:
18
35
Days on market:
25
10
Compared to a year ago, Waldo homes closed at 12% less than the median sales price in December 2021; also 50% fewer homes sold. The lowest closed price was $117,500 and the highest was $540,000. Note this year’s December list price was lower, which accounts for some of the median sales price drop. Overall, though, Waldo home values had a healthy increase overall last year; below are the stats, with a five year comparison.
2022
2021
2020
2019
2018
Median list price:
$264,900
$249,975
$223,000
$220,000
$200,000
Median sales price:
$276,000
$260,000
$230,000
$217,225
$205,000
No. of homes sold:
300
412
377
362
381
Days on market:
3
3
4
10
19
You can see the chart indicates that most of the time, buyers are paying over the list price for Waldo homes by about 3-4%, although 27% fewer homes closed last year. And houses are continuing to go under contract quickly. From 2021-2022, Waldo homes gained 6% in value, and 34% since 2018. There is so much demand for housing that I don’t foresee prices drastically coming down in 2023. When I drive around Waldo, I see several new build homes going up–and brand new houses sell for quite a bit over $300K. The old saying is true: it’s all about location, location, location in real estate!
Thanks for reading my blog! Next month I’ll post January 2023 numbers. Here’s to a new year!
(All stats taken from Heartland MLS; deemed reliable but not guaranteed.)
Another year of home buying in Brookside has come to a close…and even though our neighborhood is 100 years old, it remains quite popular! They don’t build houses like this anymore….
The first graph below outlines December 2022 single family home sales stats for Brookside (using the 64113 zip code); in the second graph, I’ve outlined sales for the past five years for comparison. Home values in Brookside…just keep rising!
December 2022
December 2021
Median list price:
$490,000
$441,750
Median sales price:
$501,000
$436,750
Days on market:
15
4
No. of homes sold:
22
28
Last month, we had six homes sell for over $1,000,000- the top sales price was $1,395,000 (cash!) and the lowest was $290,000. Although some houses sat on the market a little longer, most buyers are paying at or over list price–even with higher interest rates.Now let’s look at the five year trend:
2022
2021
2020
2019
2018
Median list price:
$495,000
$465,000
$419,000
$389,950
$405,000
Median sales price:
$500,000
$475,000
$417,000
$380,000
$397,000
Days on market:
3
3
8
23
18
No. of homes sold:
293
337
325
300
285
Home values in Brookside have risen just under 26% since 2018; the number of homes that turn over each year is fairly consistent. Fewer homes sold in 2022 than the past two years, most likely due to the rapid rise in interest rates and the persistent problem of not enough inventory.
As a Realtor, I am asked quite often: what’s happening with home sales? Here’s something that is always true: buyers want updated, well maintained homes that are priced at market value. The higher interest rates have affected some buyers’ purchasing power, but there is still a great demand for homes in the Brookside/Waldo neighborhood. Owning a home can be an excellent long term investment!
The higher interest rates haven’t dampened home sales in Armour Hills! Prices are up, although homes are staying on the market just a little longer than last year. Here are the stats:
November 2022
November 2021
Median list price:
$445,000
$362,500
Median sales price:
$440,000
$368,000
No. of homes sold:
9
8
Days on market:
13
3
Home prices closed 19.5% higher than November 2021; about the same number of homes changed ownership and final sold price was slightly lower than list price. The lowest closed sale was $200,000 and the highest was $512,000. Let’s look at year-to-date figures:
Jan-Nov 2022
Jan-Nov 2021
Median list price:
$399,900
$365,000
Median sales price:
$432,000
$380,000
No. of homes sold:
75
66
Days on market:
3
2
Consistently, buyers are paying over asking price for Armour Hills homes (8% for the year), and those houses listed go under contract quickly. Home values are up 12% compared to same period last year.As of this posting, there are no houses in Armour Hills for sale.Happy 2023 to all my readers!
(All stats taken from Heartland MLS; deemed reliable but not guaranteed.)
The holidays in your own home…it’s a special time! Perhaps you purchased a home in Brookside or Waldo within the past year or so…know that your property value is likely on the rise! Higher interest rates have slowed the number of houses sold, but Waldo prices are still going up. Let’s look at the numbers…I’m using the street boundaries of Holmes to State Line/Gregory to 85th St for these stats:
November 2022
November 2021
Median list price:
$245,000
$235,000
Median sales price:
$257,000
$225,000
Days on market:
4
3
No. of homes sold:
19
35
Values rose 14% compared to November 2021, with 45% fewer homes closing last month compared to a year ago. Still, buyers are regularly paying over the list price. Here are the year-to-date numbers:
Jan-Nov 2022
Jan-Nov 2021
Median list price:
$259,450
$247,950
Median sales price:
$275,000
$258,700
Days on market:
3
3
No. of homes sold:
262
362
For the year, prices are up just over 6%; although 27% fewer homes have sold so far. Waldo continues to be a very hot location for buyers despite the higher interest rates–most homes go under contract within a few days. Next month I’ll post Dec stats and a year end wrap up! Currently there are 16 active single family listings in Waldo with a median price of $252,778. The lowest asking price is $75K and the highest is $440K.
(All stats taken from Heartland MLS; deemed reliable but not guaranteed.)
Home sales are definitely slowing down in Brookside as we head towards the end of the year; however, prices are still rising–just not quite as much as earlier in 2022. Let’s take a look at single family home sales for last month in Brookside, using the main zip code of 64113 for the stats:
November 2022
November 2021
Median list price:
$475,000
$425,000
Median sales price:
$472,500
$425,000
Days on market:
8
4
No. of homes sold:
19
31
The lowest closed price last month was $200K and the highest was $1,055,000–which was over the asking price. Fewer homes sold compared to November 2021 and the median price was just under list price. Here are the year-to-date figures:
Jan-Nov 2022
Jan-Nov 2021
Median list price:
$492,450
$467,725
Median sales price:
$500,000
$475,000
Days on market:
3
3
No. of homes sold:
272
310
For the year, most homes have been selling over the asking price and go under contract in a very short amount of time. Sales have slowed–12% fewer homes have sold this year so far. There is still a shortage of updated homes priced under $350K in Brookside–those days may be gone forever! Currently there are 15 active listings, with a median list price of $565,000. Most of the homes are priced over $500K, with three homes over $1,000,000.
(All stats taken from Heartland MLS; deemed reliable but not guaranteed.)
Hope everyone had a relaxing holiday last week! Time to enjoy all the leftovers…! I have one more October sales report to post, regarding home sales in Armour Hills:
October 2022
October 2021
Median list price:
$490,000
$380,000
Median sales price:
$507,500
$370,000
Days on market:
2
13
No. of homes sold:
4
5
Every house that closed last month was over the list price, and the lowest price was $415K. Interesting fact about the highest closed price: $50,000 over the list price; buyer purchased “sight unseen”. WOW. Below are the year-to-date numbers:
January-October 2022
January-October 2021
Median list price:
$399,000
$372,400
Median sales price:
$429,500
$382,500
Days on market:
2
2
No. of homes sold:
66
58
Armour Hills isn’t following the Brookside trend this year–more homes have sold so far and values are up 12%! Homes are going under contract quickly with most buyers paying over asking price. Currently there are just two homes for sale in Armour Hills, both have been on the market for a several months–median list price is $449,950 and 98 days on market.
(All stats taken from Heartland MLS; deemed reliable but not guaranteed.)
Inside Brookside (And Waldo) 