Warren County Ohio is in the in-between time period. We get warm, we snap cold and get a few snowflakes, and repeat! Is the Warren County real estate market behaving the same way?
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 3/1/2020: 387 DOWN 25
Number of Homes Under Contract (Pending) 3/1/2020: 397 UP 95
Number of Homes SOLD in February: 157 DOWN 77
Average Sales Price: $300,698 DOWN $8k
Average Cumulative Days on Market for SOLD homes: 79 UP 29
Median Sales Price: $267,000 UP $13k
Median Cumulative Days on Market for SOLD homes: 33 UP 12
Minimum Price Sold: $50,500
Maximum Price Sold: $1,270,000
What are the key takeaways?
- The real number that catches our attention? The HUGE shift up in the number of homes under contract. The number of new homes on the market did NOT keep up with demand, so there's even less choice than before. Expect more homes on the market as we get closer to Spring.
Time to sell is over 2 months on average, about one month on median.
- Out of the 157 homes sold, 5 sold for less than $100,000, 8 sold for $500,000 or more (that price is the local threshold for "luxury" homes) and of those 8, 2 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 157 reported SOLD. New construction acounts for 136 of the 387 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 157 sold homes. Currently the 387 homes for sale include 4 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