Warren County Ohio Real Estate Market Snapshot January 2016
A quick snapshot of the Warren County market
2015 is a wrap! The calendar has turned and that strangely warm December has passed into history. Did that unexpected warmth transfer into the real estate market? Or did we experience the usual slowdown as people enjoy the family time of the holidays rather than pursue the buying and selling of homes?
Let’s take a quick look and see what the December 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 1/1/16: 844 (DOWN 67 from 911 12/2/15)
Number of Homes Under Contract (Pending) 1/1/16: 300 (DOWN 92 from 392 12/2/15)
Number of Homes SOLD in December: 214 vs 186 last month (as of December 2 UP 28)
Average Sales Price: $235,949 vs. November’s $255,239
Average Cumulative Days on Market for SOLD homes: 92 vs 81 in November
Median Sales Price: $195,000 vs. November’s $207,450
Median Cumulative Days on Market for SOLD homes: 43 vs. 34
Minimum Price Sold: $21,000
Maximum Price Sold: $1,700,000
What are the key takeaways?
- Much is exactly as we’d expect for this time of year with the exception of the number of homes sold going UP instead of down. However, the significantly lower number of Pending sales in December compared to November do show a slow down. And with only 844 homes currently for sale and not under contract, that’s a VERY low number of homes for sale considering that’s the entire county. New construction adds to the available numbers, but if someone needs a house NOW, the selection is limited.
- Prices went down, but not so much as to indicate any type of trend.
- Time to sell did increase, but that’s expected this time of year.
- 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 844 homes for sale include 31 foreclosed homes and 12 short sales. Of the 214 homes sold in December, 13 were foreclosures and 1 were short sales.
- Bottom line, if you need to sell a home, there’s a lack of homes for sael and there’s still enough activity to support getting our marketing to work for you. If you’re thinking about buying, inventory is tight.
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
