Another month over! Halloween will be here soon and you know we’ve ALREADY seen Christmas decorations up in the stores! This is the time of year the local real estate market typically starts to slow down, so did that hold true in September? Let’s take a quick look and see what the stats tell us about the Warren County Ohio residential home market.
Warren County Residential Sales Summary (single family homes & condos):
Number of Homes For Sale 10/1/15: 1047 (DOWN 21 from 1068 9/1/15)
Number of Homes Under Contract (Pending) 10/1/15: 449 (DOWN 24 from 473 9/1/15)
Number of Homes SOLD in September: 237 vs 298 last month (as of September 1) DOWN 61
Average Sales Price: $228,109 vs. August’s $241,611
Average Cumulative Days on Market for SOLD homes: 66 vs 64 in August
Median Sales Price: $188,950 vs. August’s $206,500
Median Cumulative Days on Market for SOLD homes: 31 vs. 28
Minimum Price Sold: $22,200
Maximum Price Sold: $1,750,000
What are the key takeaways?
- The market continues to slow as evidenced by the significant drop in completed sales. However, the number of homes under contract is still strong at 449. We’re still close to 1 of every 3 homes for sale is currently under contract.
- Average and median prices declined, but not significantly enough to indicated a true shift in home values for the area.
- Time to sell was steady.
- And as usual, there’s a HUGE difference within Warren County from the cheapest home to the most expensive home!
- Distressed (short sales and foreclosures) continue to be a fairly small segment of Warren County homes for sale. Currently the 1047 homes for sale include 22 foreclosed homes and 13 short sales. Of the 238 homes sold in September, 18 were foreclosures and 0 were short sales.
- Bottom line, if you need to sell a home, there’s still enough activity to support getting our marketing to work for you. If you’re thinking about buying, there’s inventory out there, although some area price segments are slender for choice.
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.
Liz and Bill aka BLiz