Wonderful Waldo finished the year strong in terms of rising home values...and I will report on those stats in the latter part of the blog. First, let's examine the figures (single family homes) for December 2017 with comparisons to last year. I'm using the boundaries of Gregory to 85th St, State Line to Holmes:
December 2017 December 2016
Median list price: $164,950 Median list price: $179,900
Median sales price: $161,500 Median sales price: $179,000
No. of homes sold: 32 No. of homes sold: 17
Days on market: 37 Days on market: 21
Although the median price dropped compared to 2016, more home sold that were in the lower price range for Waldo. That affected the median sales price.
Here are the year end stats:
Median list price: $175,000 Median list price: $167,200
Median sales price: $177,000 Median sales price: $167,500
No. of homes sold: 393 No. of homes sold: 396
Days on market: 13 Days on market: 21
For the second year in a row, many sellers got asking price or above for their homes. About the same number of homes sold--but in less time. Two weeks on market before getting an offer is not very long at all! The lowest sales price in 2017 was $37,500 and the highest was $480,000. Home values increased 5.6% over 2016.
Here are median sales prices for a few preceding years:
2013: $144,000; 2014: 149,975; 2015: 159,250.
Waldo home values have increased 22.9% in five years! Of course, that increase in value does not apply to every home; seller maintenance, updates and location all figure into the home selling price. I predict Waldo will continue to be a hot location for home buyers in 2018! Currently there are 22 homes for sale, with a median list price of $207,500 and 31 days on market.
(All figures taken from Heartland MLS; deemed reliable but not guaranteed.)