Waldo Home Sales Report – June 2018

Halfway through 2018 and Waldo home values are as sizzling hot as the outdoor temperatures!  Closed sales prices are regularly above asking price.  Let’s look at the numbers, using the Waldo street boundaries of State Line to Holmes and Gregory to 85th St:

June 2018                                                June 2017

Median list price:     $200,000               Median list price:    $185,000

Median sales price:  $219,000               Median sales price:  $194,000

No. of homes sold:    31                         No. of homes sold:    45

Days on market:        35                          Days on market:      3

The main reason the days on market last month were so much longer was due to one house that sat for sale for over six months.  Most Waldo area homes sell in under seven days.   The lowest sales price in June 2018 was $35,500 and the highest was $405,920.  Below are year-to-date comparisons:

Jan-June 2018                                            Jan-June 2017

Median list price:      $197,000                Median list price:    $175,000                       

Median sales price:   $199,500                Median sales price:  $177,500

No. of homes sold:       180                     No. of homes sold:    205

Days on market:           15                        Days on market:     18

Fewer homes have sold this year due to a lack of inventory, and that’s pushing prices up–over 12% increase over last year.  Currently there are 29 single family homes for sale in Waldo, with a median price of $249,000 and 23 days on market. The lowest list price is $134,900 and the highest is $485,000.

(All stats taken from Heartland MLS; deemed reliable but not guaranteed.)

 

 

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Waldo Home Sales Report-May 2018

Double digit increases in home values continue in the Waldo area…when is the market going to slow down in this super hot neighborhood??  Here are the May 2018 single family home sales stats for Waldo, using the boundaries of State Line to Holmes and Gregory to 85th St:

May 2018                                                            May 2017

Median list price:    $221,750                           Median list price:     $187,450

Median sales price:   $221,000                         Median sales price:   $189,250

No. of homes sold:     36                                   No. of homes sold:      44

Days on market:       10                                     Days on market:         12

Prices were up 16% over same period last year, and most sellers continue to get more than asking price for their properties.  Here are the year-to-date figures:

Jan-May 2018                                                  Jan-May 2017                      

Median list price:      $195,000                     Median list price:     $175,000

Median sales price:    $197,000                    Median sales price:    $177,000

No. of homes sold:     147                              No. of homes sold:      157

Days on market:         15                                Days on market:         26

Fewer homes are available to buy, so prices are trending upward due to lack of inventory.  Home values are up 11% YTD over last year, with most homes selling for over asking price and in a shorter period of time.  Currently there are 21 single family homes for sale in Waldo, with a median list price of $269,900 and 23 days on market. 

(All stats taken from Heartland MLS; deemed reliable but not guaranteed.)

Waldo Home Sales Report-April 2018

Waldo home prices keep creeping up…again last month, many of the homes sold over the list price.  The highest sale was $430K–a whopping $30K over the asking price!  Here are the April 2018 sales stats, using the boundaries of Gregory to 85th St and State Line to Holmes:

April 2018                                                            April 2017

Median list price:    $209,975                           Median list price:    $159,000

Median sales price:  $212,500                          Median sales price:  $161,000

No. of homes sold:      44                                  No. of homes sold:      31

Days on market:        30                                    Days on market:          4

Checking year-to-date figures:

Jan-April 2018                                                     Jan-April 2017

Median list price:     $189,950                          Median list price:      $167,400

Median sales price:  $192,000                          Median sales price:    $170,200

No. of homes sold:      119                                No. of homes sold:       118

Days on market:          18                                  Days on market:           30

The number of homes is steady YTD–median sales price is up 12% over same period last year.  Demand is high, inventory low.  It’s a frustrating market for buyers in Waldo.

Currently there are 20 single family homes for sale in Waldo, with a median price of $244,500 and 12 days on market.  The lowest list price is $124,900 and the highest is $450,000.

(All stats taken from Heartland MLS; deemed reliable but not guaranteed.)

 

Waldo Home Sales Stats-March 2018

The Waldo area has home prices ranging from under $100K for a real fixer-upper to updated remodeled homes over $400K.  That wide range of housing prices is one of the most desirable aspects to living in Waldo–along with many locally owned shops, services, restaurants and bars.  Prices continue to rise in Waldo–take a look at these stats from last month:

March 2018                                                          March 2017

Median list price:    $200,000                            Median list price:    $175,000                     

Median sales price:  $217,700                           Median sales price:   $172,700

No. of homes sold:      28                                     No. of homes sold:        36

Days on market:          3                                       Days on market:           40

Sold prices in March 2018 reflected an 8.75% over the list price! WOW. Lots of demand, not much inventory, pushing prices up.  Also, note homes went under contract in three days!  Here are the year-to-date statistics:

Jan-March 2018                                                     Jan-March 2017

Median list price:       $170,000                           Median list price:     $172,900

Median sales price:    $171,500                           Median sales price:   $170,400

No. of homes sold:        72                                     No. of homes sold:     89

Days on market:            15                                    Days on market:         33

Fewer homes have sold in the first quarter of 2018, and that’s because of a lack of inventory–the buyers are there, ready to write offers. Home values are up, and houses going under contract very fast.  I don’t expect a slowdown over the next few months.

Currently there are 17 active single family listings in Waldo, with a median list price of $239,000 and 17 days on market. Lowest price is $64,500 and highest is $385,000 (!).

(All stats taken from Heartland MLS; deemed reliable but not guaranteed.)

 

Major Construction Work Planned for 75th and Wornall Area

Waldo tower

Wonderful Waldo!

Wornall Road in the heart of Waldo seems to be a never ending construction site, and will continue that way for the next few years.  Here’s a summary of what’s going on:

*This week, contractors will start drilling around 75th and Wornall.  The work is related to the bigger (and much needed) 75th/Wornall improvement project.  There will be lane closures on both sides of Wornall from approximately 74th to 79th St area for several days.

*The 75th/Wornall improvement project involves a redesign of the parking lot in front of Waldo Pizza; creating a new Trolley Track extension (dedicated path) outside that lot; updated sidewalks, crosswalks and lighting;  plus installation of islands to slow down traffic at that congested intersection. Major work on this project is slated to start early next year and finish in late 2020. 

*The “sewer separation project” is underway along W 77th and W 85th, Grand and Summit Streets, bringing new storm and sanitary lines underground and some sewer line rehab.  This project is ongoing through 2019.

*The “Smart Sewer Project” involves water main line replacement along 75th St from Holmes to State Line, beginning in mid 2019 through 2020.

Our tax dollars at work!  Yes, it is challenging to drive, bike or walk around road closures in these areas however, all of this work is so necessary.  I’m especially excited about the 75th/Wornall improvements as that is such a congested intersection. It is the ‘front door’ of Waldo! After the project is completed,  the area will look much more inviting to pedestrians and help traffic flow better.

Please be courteous and aware of construction workers in the area as they work to make our neighborhood better for all!  Have a positive attitude, focusing on the outcome rather than the temporary inconvenience.

To keep up on details of these projects, check this webpage for updates:  www.kcmo.gov/publicworks/wornall.

Waldo Home Sales Report-Feb 2018

Waldo is again in high demand for home buyers–final sales prices are (at times) thousands of dollars over the list price.  Here are the Feb 2018 single family home sales stats for Waldo, using the area of State Line to Holmes and Gregory to 85th St:

February 2018                                                               February 2017

Median list price:      $149,950                                  Median list price:      $192,950

Median sales price:   $160,000                                 Median sales price:   $180,000

No. of homes sold:          27                                       No. of homes sold:      26

Days on market:              24                                        Days on market:         31

Look at that median sales price, $11K over list price!   Last month there was a one bedroom, one bath home listed at $90K and sold for $110K–$20,000 over asking price for a one bedroom home!  I really feel for the buyers, who get so discouraged losing out in bidding wars.  More inventory will open up over the next three months.

Here are year-to-date stats:

Jan-Feb 2018                                                                    Jan-Feb 2017

Median list price:     $161,250                                    Median list price:      $171,350

Median sales price:  $161,500                                    Median sales price:   $168,375

No. of homes sold:        46                                           No. of homes sold:       52

Days on market:            23                                           Days on market:           31

So far this year sellers are getting at least asking price; many times more than that.  I think many of these lower price range buyers realize–rents are going way up, why pay someone else’s mortgage when you can buy and have a house payment similar to rent? The challenge is finding a well maintained, updated home with a lower budget.  It will be another strong year for Waldo home sales!

Currently there are 16 active listings, with a median price of $218,500 and 6 days on market.

(All stats taken from Heartland MLS; deemed reliable but not guaranteed.)

Wornall and 85th Shopping Area Slated for Renovation

Today’s blog will tell you about the planned renovation changes for the northwest corner of 85th and Wornall in Waldo—where the Price Chopper is located.  This shopping area (“Wornall Village Shopping Center”) has been looking a bit shabby and run down over the years, and I’m excited share the news about the renovation!

price chapper

truck entranceThe Tutera Group, along with Nolte and Associates are planning to refresh this strip mall and hope to make it more pedestrian friendly.  The biggest change sounds like it will be the remodeled Price Chopper store—a total inside renovation, plus moving the truck delivery area to the northwest corner of the building.  The entire front of the building will have new lettering, colors, masonry and framing.  New sidewalks will be installed along Wornall and W 84th St.   The Tutera Group wants to attract more retail businesses and ‘a better tenant mix’ for this area…hopefully some locally owned shops and restaurants.

strip mall

 

Now that the plans are drawn up, the next step is working with KCMO on the permit process and other details; if all runs according to plan, work will start in the fall of this year and be completed in Spring 2019.  According to the developers, this project is a ten million dollar investment for Waldo—and will definitely make this corner more attractive to residents and shoppers.  Price Chopper plans to remain open during the renovation.