It’s December and the weather has been unusually warm for this time of year! Hard to believe Christmas is just a few weeks away!
Local real estate is slower than peak summer months but still busy. The number of homes for sale is shrinking and there are also fewer under contract and fewer sales completed, but none of this is unusual for this time of year. Let’s take a quick look and see what the November 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 12/2/15: 911 (DOWN 102 from 1013 11/1/15)
Number of Homes Under Contract (Pending) 12/2/15: 392 (DOWN 32 from 424 11/1/15)
Number of Homes SOLD in November: 186 vs 222 last month (as of November 1) DOWN 36)
Average Sales Price: $255,239 vs. October’s $241,643
Average Cumulative Days on Market for SOLD homes: 81 vs 72 in October
Median Sales Price: $207,450 vs. October’s $208,950
Median Cumulative Days on Market for SOLD homes: 34 vs. 38
Minimum Price Sold: $17,000
Maximum Price Sold: $1,310,000
What are the key takeaways?
- Still PLENTY going on despite the market slowdown. Definitely fewer homes on the market (that’s a significant drop since last month), but 392 under contract is still a LOT of homes under contract!
- Average price went up and median is down so slightly as to be practically the same.
- Time to sell was actually a little shorter than the previous month.
- 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 911 homes for sale include 20 foreclosed homes and 12 short sales. Of the 186 homes sold in November, 11 were foreclosures and 1 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.
Serving Warren County’s residential real estate needs,
Liz and Bill aka BLiz