Happy New Year everyone! 2017 is officially wrapped up, and holiday or not, it's time for our monthly update of the Warren County Ohio real estate market! Expect things to be slow, it IS a cold time of the year for both temperature and real estate activity in Warren County!
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 1/1/2018: 579 (DOWN 96 from 675 12/1/17)
Number of Homes Under Contract (Pending) 1/1/18: 294 (DOWN 42 from 336 12/1/17)
Number of Homes SOLD in December: 186 vs 275 last month (as of January 1 DOWN 89)
Average Sales Price: $269,030 vs. November's $297,021
Average Cumulative Days on Market for SOLD homes: 75 vs 66 in November
Median Sales Price: $221,500 vs. November's $249,900
Median Cumulative Days on Market for SOLD homes: 36 vs. 27
Minimum Price Sold: $35,000
Maximum Price Sold: $1,485,000
What are the key takeaways?
- As expected, the real estate market is slower. That's typical for the time of year. Much fewer homes on the market, longer time to sell, etc.
- What wasn't the norm? THREE homes sold for more than $1 million, following up on the FOUR from November.
- Prices dropped, primarily due to the number of luxury homes accounting for only 14 of the 186 homes sold.
New construction entered in MLS and sold was 26 homes, and those are just the ones reported in Cincinnati MLS. Made to order homes are often not reported. New construction accounts for 186 of the 579 homes listed in MLS and NOT under contract.
- Distressed (short sales and foreclosures) continued to be insignificant this month with 4 foreclosures and no short sales in the 186 sold homes. Currently the 579 homes for sale include 8 foreclosed homes and 3 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