That sound you're hearing is the brakes being tapped on Warren County Ohio home sales! It's not necessarily a bad thing, it's just a typical thing for this time of year. As it gets colder and the holiday season arrives in full force, changing homes takes a back seat to the rest of Life's demands. So don't put too much worry into the decrease in homes under contract and homes sold, it's what we'd expect.
Let's take a quick look and see what last month's stats tell us about the Warren County Ohio residential home market.
Come back later this month (starting around the 5th) for the start of our detailed market reports for Mason, Lebanon, Springboro, Maineville/Hamilton Township & Morrow. By then all the month end transactions should be accounted for.
Warren County Residential Sales Summary (single family homes & condos):
Number of Homes For Sale 12/1/16: 782 (DOWN 43 from 825 11/2/16)
Number of Homes Under Contract (Pending) 12/1/16: 438 (DOWN 50 from 488 11/2/16)
Number of Homes SOLD in NOVEMBER: 228 vs 298 last month (as of November 2 DOWN 70)
Average Sales Price: $243,321 vs. October's $257,799
Average Cumulative Days on Market for SOLD homes: 60 vs 65 in October
Median Sales Price: $204,950 vs. October's $228,950
Median Cumulative Days on Market for SOLD homes: 21 vs. 34
Minimum Price Sold: $15,500
Maximum Price Sold: $2,975,000
What are the key takeaways?
- It's a typical November. The number of homes available dropped. Nothing new in that. The number of homes under contract dropped. Again, nothing new there either. And the number of homes with completed sales dropped. Again, just keep moving, nothing to see here!!
- Only 10 homes sold for $500k or more last month and 2 of those were above $1,000,000. The one selling for almost $3 million is a VERY unusual sale, the biggest we've seen in months. A 148 acre horse farm that took well past a year to sell.
- Distressed (short sales and foreclosures) continue to be a fairly small segment of Warren County homes for sale. Currently the 782 homes for sale include 18 foreclosed homes and 6 short sales. Of the 228 homes sold in November, 11 were foreclosures and 1 was a short sale.
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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