The Warren County Ohio real estate market is as should be expected for the time of year. A bit chilled out, but still moving towards Spring. Fewer homes for sale, but still 100s of homes being sold each month.
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 2/1/2020: 412
Number of Homes Under Contract (Pending) 2/1/2020: 302
Number of Homes SOLD in December: 234
Average Sales Price: $308,378
Average Cumulative Days on Market for SOLD homes: 50
Median Sales Price: $253,763
Median Cumulative Days on Market for SOLD homes: 21
Minimum Price Sold: $21,000
Maximum Price Sold: $2,000,000
What are the key takeaways?
- Nothing here is a real surprise for what is traditionally a slow time of year for home sales. The number of homes for sale is definitely on the skimpy side of the range. 412 homes not under contract may SOUND like quite a few, but spread across the entire county and all price points and it's quickly apparent that a buyer may find very few relevant homes to actually select from. Expect more homes on the market as we get closer to Spring.
Time to sell is under 2 months on average, 3 weeks on median.
- Out of the 244 homes sold, 9 sold for less than $100,000, 26 sold for $500,000 or more (that price is the local threshold for "luxury" homes) and of those 26, 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 23 of the 234 reported SOLD. New construction acounts for 144 of the 412 homes listed for sale in Cincinnati MLS.
- Distressed (short sales and foreclosures) accounted for 5 sales this month with 4 foreclosure and 1 short sales in the 234 sold homes. Currently the 412 homes for sale include 6 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