I am number 3 on the wait list and after sending an email asking if this was normal to have only selected one person so close to the school year, I got this response,
"Yes because we make many offers before we create the alternate list so it is always possible to only admit 1 or 2 from the alternate list. At this time we do not expect to admit another student but if we have a cancellation we will admit up until 8/26."