The Warren County Ohio real estate market is slowing down, but that's typical for this time of year. However, overall the market is still strong. A lot of homes have sold and a lot are under contract, just not the same numbers as June's peak!
Stick with us for a quick overview of this month's stats and come back later this month to read our assessments of Mason, Lebanon, Springboro, Maineville/Hamilton Township & Morrow.
Warren County Residential Sales Summary (single family homes & condos):
Number of Homes For Sale 9/1/17: 795 (DOWN 37 from 832 8/2/17)
Number of Homes Under Contract (Pending) 9/1/17: 494 (DOWN 66 from 560 8/2/17)
Number of Homes SOLD in August: 344 vs 298 last month (as of September 1 UP 46)
Average Sales Price: $266,764 vs. July's $247,644
Average Cumulative Days on Market for SOLD homes: 41 vs 31 in July
Median Sales Price: $231,250 vs. July's $215,000
Median Cumulative Days on Market for SOLD homes: 14 vs. 10
Minimum Price Sold: $30,660
Maximum Price Sold: $855,000
What are the key takeaways?
- We're continuing to slow from the annual peak. Number of homes available is down, but the number of completed sales went up (got to get the kids in their new homes before school started!). There's still a significant number of homes under contract, but overall activity is typically slower this time of year.
- 25 homes sold for $500k or more, helping push average and median prices up when compared to July's results.
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New construction entered in MLS and sold was 32 homes, but MOST new construction homes are not recorded in MLS.
- Distressed (short sales and foreclosures) continued to be insignificant this month with 7 foreclosures and 1 short sale in the 344 sold homes. Currently the 795 homes for sale include 7 foreclosed homes and 5 short sales.
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Still have questions about the local real estate market or want an in depth analysis of YOUR particular neighborhood and home? Call us at 513-520-5305 or email at Liz@LizSpear.com. No hassle, no pressure. Whether you want to go on the Warren County market tomorrow, or next year, there's value in knowing your specific options.
Serving Warren County's residential real estate needs,
Liz and Bill aka BLiz
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