The Warren County Ohio real estate market is holding steady, but is on the verge of the usual winter slowdown.
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 11/1/2019: 619 (DOWN 44 from 663 10/2/19)
Number of Homes Under Contract (Pending) 11/1/19: 391 (DOWN 11 from 402 10/2/19)
Number of Homes SOLD in October: 281 vs 256 last month (as of 10/2/19) UP 25
Average Sales Price: $304,822 vs. September's $316,651
Average Cumulative Days on Market for SOLD homes: 41 vs 47 in September
Median Sales Price: $260,000 vs. September's $261,500
Median Cumulative Days on Market for SOLD homes: 15 vs. 9
Minimum Price Sold: $16,000
Maximum Price Sold: $1,200.000
What are the key takeaways?
- Overall, a better month than you'd expect for the time of year. Sales volume actually increased vs. September and prices were essentially the same.
- What did drop? The number of homes available, and that's typical as we head into the colder months. Some sellers will delay trying to sell until Spring.
- Out of the 281 homes sold, 13 sold for less than $100,000, 32 sold for $500,000 or more (that price is the local threshold for "luxury" homes) and of those 32, 4 sold for more than 1 million.
- Outside of the MLS information are the hidden new construction homes. Made to order homes are generally NOT entered in Cincinnati MLS. Reported new construction accounted for 20 of the 281 reported.
- The other big contributor is the scarcity of resale homes for sale in Warren County. With 168 of the 619 homes listed for sale as new construction, that leaves 451 resale homes. That's all types of homes and price ranges. Spread that across the county and condos and homes and there's just not a large selection to pick from.
- Distressed (short sales and foreclosures) accounted for 1 sale this month with 1 foreclosure and 0 short sales in the 281 sold homes. Currently the 619 homes for sale include 6 foreclosed homes and 1 short sale.
Visit our WarrenCountyOhioRealEstate.com website for full search capability without registration requirements.
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