The Warren County Ohio real estate market continues to pick up momentum as it typically
does this time of year. More homes sold and under contract than the prior month, but we still have the significant issue of not enough homes for sale to meet buyer needs. 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 5/1/2019: 608 (UP 18 from 590 4/1/19)
Number of Homes Under Contract (Pending) 5/1/19: 486 (UP 47 from 439 4/1/19)
Number of Homes SOLD in April: 306 vs 232 last month (as of April 1) UP 74
Average Sales Price: $298,004 vs. March's $250,452
Average Cumulative Days on Market for SOLD homes: 58 vs 56 in March
Median Sales Price: $252,000 vs. March's $227,500
Median Cumulative Days on Market for SOLD homes: 16 vs. 17
Minimum Price Sold: $40,000
Maximum Price Sold: $1,380,000
What are the key takeaways?
- The Spring market continues to pick up momentum. A few extra homes for sale, more homes under contract and more sold. And just a wee bit faster than the previous month.
- The biggest issue continues to be the shortage of homes for sale. The story is the same agent to agent, buyers that have specific wants and nothing on the market that fits their needs in the area they want.
- Of the 608 homes and condos not under contract, 191 of them are new construction. So just over 400 resale homes and condos across the entire county and the entire price range.
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Prices increased (both median and average), but a key difference was a pick up in luxury homes sales. March had 9 homes sold $500,000 or more, April had 29.
- New construction entered in MLS and sold was 15 homes, and those are just the ones reported in Cincinnati MLS. Made to order homes are often not reported.
- Distressed (short sales and foreclosures) accounted for 3 sales this month with 3 foreclosures and no short sales in the 306 sold homes. Currently the 608 homes for sale include 5 foreclosed homes and 1 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
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