COVID-19's effects can be felt with decreasing inventory and fewer buyers actively looking. The February stats in this report predate most of the local reaction to COVID-19. We do expect a slow down as a reaction to the precautions in place.
Stick with us for the details right after the stats section further down this post when we get into the analysis of the Maineville/Hamilton Township area home sales.
We offer links at the bottom of the post to search Cincinnati MLS listed Maineville Ohio homes for sale, and if you want specifics for What Is My Maineville Ohio Home Worth?, please click that link and fill out the form. We'll get back to you shortly with the latest info that applies to YOUR home!
This report is for single family homes only and NOT condos. We're covering zip code 45039 only, which also includes homes in parts of Landen and Deerfield Township, although at low levels. That also means any Hamilton Township homes in other zip codes are NOT covered in this report. The majority of 45039 is covered by Little Miami Schools, although portions are in Kings Local. Obviously zip code 45039 is NOT uniform so we're not always comparing apples to apples in this report. This report is informational and for the best advice for you as an area home buyer or seller, please contact us for a specific review of your needs.
- All data is derived from the Cincinnati MLS system.
- If any Maineville/Hamilton Township homes traded hands without a real estate agent involved, then it won't be reflected in this report.
- All data is for the 45039 zip code only.
The 45039 zip code offers a diversity of living choices, with a focus on affordable housing. Much of the zip code is easily reached by taking the SR48, Western Row or Kings Mills exits off of I71. Depending on traffic you can be in the heart of Maineville within 5-10 minutes from the SR48 exit. Along the way you'll pass a Lowe's, Target, Kohls, Kroger, Petsmart and a collection of strip malls with a selection of dining choices.
With regards to housing choices, there are numerous developments, with the majority focused at the $200k price point with many starter type homes available well below that. If your preference is more space, the area also offers that option with either luxury home communities or more rural opportunities. Additionally, one of the area's few 55+ communities makes its home here.
Turning Leaf, a Hamilton Township community
So, on to the review!
Quantity of homes sold by month
Median price of homes sold by month
Maineville/Hamilton Township 45039 Single Family Home Category Data Summary:
Homes Active 3/26/20: 45 DOWN 6
Homes Pending 3/26/20: 53 UP 16
Homes Sold: 24 (0 Bank/Government Owned, 0 Short Sale, 5 New Construction) DOWN 5
Average Price: $304,706 UP $47k
Median Price: $295,144 UP $50k
Days on Market Average: 89 UP 31 (median 32 days)
Average Sales/List %: 97.7% DOWN 0.2%
Most Expensive Home Sold: $525,000
Least Expensive Home Sold: $130,000
So what can we determine from the latest statistics?
- As far as total homes sold, February was just a typical February. Not too high, not too low.
Prices however were particularly strong, and that's partly attributable to new construction sales. With new homes accounting for 5 of the 24 completed sales, and new typically costing more on average than resale homes, there was a nice bump up in average and median prices. 12 homes sold for more than $300,000, and 5 of those 12 sold for more than $400,000. Only one home fit the luxury definition of $500,000 or more.
The number of homes under contract went up significantly, but with the shelter in place restrictions due to COVID-19, we expect some of the positive momentum to be lost. Time to contract increased to almost 3 months on average and just over a month for median.
13 of the 45 homes for sale and not under contract are new construction.
- Distressed (foreclosures and short sales) remained nonexistent this month, with none sold and none not under contract.
So what does this mean to you as a Maineville/Hamilton Township single family home owner?
NO CHANGE, but only because we don't know just home much impact COVID-19 will have on the housing market. Expect time to sell to slow, but still remain a relatively short time period if the home is in good condition, priced right and marketed well. Don't forget another key consideration is if the home is competing head to head with new construction. Obviously selling "used" vs. "new" can make a sale more challenging.
For an evaluation of your specific home's marketability, please contact us at 513-520-5305.
So what does this mean to you as a potential Maineville/Hamilton Township home buyer?
EXPECT THE NUMBER OF HOMES FOR SALE TO DECREASE DUE TO COVID-19 CONCERNS. If you find a home that suits you, don't delay acting or you may miss out on your opportunity. There are other buyers out there and area housing is still VERY affordable and overall the homes tend to be newer and in subdivisions.
There is a LOT of new construction available and having an influence, and PLEASE, for new construction, have us help you! The builder will NOT cut you a price break for showing up unrepresented, and using our services will NOT cost you extra.
When you're considering buying a Maineville/Hamilton Township area home, please contact us at 513-520-5305 with your needs and we'll help you find the right community!
To Search Maineville/Hamilton Township 45039 homes for sale, please use the links below.
Search Maineville/Hamilton Township 45039 Homes for Sale $400,000 and Up
Serving Warren County's home buyers and sellers,
Liz and Bill aka BLiz
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