Happy New Year everyone! 2016 is a wrap (well except for the closings last week that haven't quite made it into the MLS yet!). It's the time of year when real estate is slower as people enjoy the holidays and family time, so any drop in numbers is normal. That said, we're seeing signs of 2017 business already starting with multiple contacts this week from buyers and sellers ready to make something happen this year.
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 1/1/17: 628 (DOWN 154 from 782 12/1/16)
Number of Homes Under Contract (Pending) 1/1/17: 371 (DOWN 67 from 438 12/1/16)
Number of Homes SOLD in DECEMBER: 230 vs 228 last month (as of December 1 UP 2)
Average Sales Price: $256,582 vs. November's $243,321
Average Cumulative Days on Market for SOLD homes: 67 vs 60 in November
Median Sales Price: $222,000 vs. November's $204,950
Median Cumulative Days on Market for SOLD homes: 30 vs. 21
Minimum Price Sold: $27,500
Maximum Price Sold: $1,500,000
What are the key takeaways?
- Obviously the number of homes dropped significantly. You've got two main contributors: Some sellers take their homes off the market during the holidays AND some sellers are hesitant to start marketing their home during the cold months and prefer to wait for the Spring season. The net? The homes that were Sold in December didn't get replaced. That also means the number of homes under contract drop a bit too.
- 17 homes sold for $500k or more last month and 2 of those were above $1,000,000.
- Distressed (short sales and foreclosures) continue to be a fairly small segment of Warren County homes for sale. Currently the 628 homes for sale include 18 foreclosed homes and 6 short sales. Of the 230 homes sold in December, 4 were foreclosures and 2 were 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