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.
|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.)