Spring is here and you can tell by examining the real estate market stats. More homes sold, 
more under contract and they're going off the market faster. And the market would be even better if there were MORE homes for buyers to pick from. There's a real shortage of homes for sale. Stick around for a top level overview!
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 4/1/2019: 590 (DOWN 6 from 596 2/1/19)
Number of Homes Under Contract (Pending) 4/1/19: 439 (UP 74 from 365 3/1/19)
Number of Homes SOLD in February: 232 vs 174 last month (as of March 1) UP 58
Average Sales Price: $250,452 vs. February's $256,079
Average Cumulative Days on Market for SOLD homes: 56 vs 67 in February
Median Sales Price: $227,500 vs. February's $217,500
Median Cumulative Days on Market for SOLD homes: 17 vs. 36
Minimum Price Sold: $23,500
Maximum Price Sold: $800,000
What are the key takeaways?
- Spring is here and there are definite signs of the real estate market picking up. More homes sold, more under contract, and it's happening faster.
- The biggest issue? We still have a severe lack of homes for buyers to select from. Of the 590 not under contract, 196 of them are new construction. So basically 400 homes across the entire county and the entire price range. We have buyers interested in certain areas that there's just nothing available.
- Prices continue to remain stable, with average and median prices fairly close to the month before.
- Time to sell decreased significantly.
- Not many luxury homes with completed sales, with only 9 homes greater than $500,000 and none popped over a million bucks.
- New construction entered in MLS and sold was 12 homes, and those are just the ones reported in Cincinnati MLS. Made to order homes are often not reported. New construction accounts for 196 of the 590 homes listed in MLS and NOT under contract. The builders are keeping busy.
- Distressed (short sales and foreclosures) remained at 5 again this month with 4 foreclosures and 1 short sales in the 232 sold homes. Currently the 590 homes for sale include 2 foreclosed homes and no 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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