Warren County Ohio home sales maintained a similar level from June to July. Close to the same for houses for sale and under contract, and prices are still solid.
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 8/1/2019: 683 (DOWN 2 from 685 7/1/19)
Number of Homes Under Contract (Pending) 8/1/19: 462 (DOWN 5 from 467 7/1/19)
Number of Homes SOLD in July: 324 vs 307 last month (as of July 1) UP 17
Average Sales Price: $301,308 vs. June's $317,490
Average Cumulative Days on Market for SOLD homes: 39 vs 56 in June
Median Sales Price: $260,000 vs. June's $270,000
Median Cumulative Days on Market for SOLD homes: 11 vs. 9
Minimum Price Sold: $45,000
Maximum Price Sold: $1,711,506
What are the key takeaways?
- For the most part, very flat from June to July. Almost the same number of homes for sale and almost the same under contract.
- On the more positive side, the average time to sell dropped and the number of homes sold actually increased from June to July.
- Prices are down a bit from June to July, but not a significant amount.
- Out of the 324 homes sold, 3 sold for more than 1 million and 27 total sold for $500,000 or more (the local definition of luxury market homes).
- All that said, there's a lot of "hidden" sales going on thanks to new construction. The majority of those sales are never entered in MLS and don't show up in the stats. New construction accounted for 26 of the 324 reported.
- The other big contributor is the scarcity of resale homes for sale in Warren County. With 186 of the 683 homes listed for sale as new construction, that leaves 497 resale homes. That's condos, single family, farms, EVERYTHING. That's just tough for buyers to find the right home.
- Distressed (short sales and foreclosures) accounted for 1 sale this month with 1 foreclosure and no short sales in the 324 sold homes. Currently the 683 homes for sale include 5 foreclosed homes and 6 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