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Warren County Ohio Real Estate Market Snapshot April 1, 2020

By
Real Estate Agent with Transaction Alliance 513.520.5305 www.LizTour.com SAL.2002007747

Warren County Ohio real estate snapshotCOVID-19 has made its presence known in many ways.  This would usually be the start of the Spring Warren County Ohio real estate market.  It would soon be the busiest time of year.  Instead, with concerns about the virus, shelter in place requirements, job layoffs and more, the real estate market has dropped off significantly.  2020 WAS showing signs of easily outperforming 2019. 

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 4/1/2020:  380 DOWN 7

Number of Homes Under Contract (Pending) 4/1/2020: 390 DOWN 7

Number of Homes SOLD in March: 257 UP 100

Average Sales Price: $302,141 UP $1.5k

Average Cumulative Days on Market for SOLD homes:  50 DOWN 29

Median Sales Price:  $270,000 UP $3k

Median Cumulative Days on Market for SOLD homes: 10 DOWN 23

Minimum Price Sold:  $15,751

Maximum Price Sold:  $1,200,000

What are the key takeaways? 

  • Here's the nutshell version:  The spring market was looking GREAT...right up to the point that COVID-19 entered the scene.  Showings were outpacing 2019 easily, and then the rug was pulled out.  When you look at March's numbers you can see almost across the board there was a duplication of February numbers.  Almost the same number of homes for sale (that number should have been UP, and UP some more), and almost the same number of homes under contract and prices were almost identical.
  • The decreased time to contract is an indication the market was heating up, as was the jump of 100 homes sold from February to March.
  • Out of the 257 homes sold, 9 sold for less than $100,000, 22 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 29 of the 257 reported SOLD.    New construction accounts for 142 of the 380 homes listed for sale in Cincinnati MLS.
  • Distressed (short sales and foreclosures) accounted for 7 sales this month with 6 foreclosures and 1 short sale in the 257 sold homes.  Currently the 380 homes for sale include 3 foreclosed homes and no short sales. 

 

Cherry Brook of Mason Ohio

 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

 

Posted by

Serving Warren County Ohio & Adjacent Areas

The Liz Spear Team of Transaction Alliance
Elizabeth Spear, ABR, Ohio License SAL.2002007747

William (Bill) Spear, Ohio License SAL.2004011109  Kentucky 77938
Ask for us by name if you visit the office!

EHO
Bill Direct:  513-520-5305
Liz Direct: 513-265-3004     
Fax: 866-302-8418

MailTo:  Liz@LizSpear.com

Search Homes:  Https://WarrenCountyOhioRealEstate.com

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Comments (2)

Joseph Doohan
Joseph Doohan - Las Vegas, NV
I offer business strategy advice for realtors

Thank you for keeping us posted and up to date. Wishing you a great day ahead! Take care.

Apr 02, 2020 12:35 AM
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Good morning Bill. The times they are a changing more and more every day. All we can do is stay tuned! Enjoy your day!

Apr 02, 2020 06:15 AM