The Warren County Ohio real estate market continues to bloom as we get farther into the Spring season! The color is starting to show as our azaleas hit their full range of colors with white, orange, yellow, pink & red burst into full bloom! Warren County Ohio’s real estate market is showing good signs of life too with more houses on the market and those in the sweet spots going under contract quickly!
Let’s take a quick look and see what the April 2016 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 5/1/16: 861 (DOWN 16 from 877 4/1/16)
Number of Homes Under Contract (Pending) 5/1/16: 660 (UP 108 from 552 4/1/16)
Number of Homes SOLD in APRIL: 241 vs 245 last month (as of April 1 DOWN 4)
Average Sales Price: $237,167 vs. March’s $219,766
Average Cumulative Days on Market for SOLD homes: 78 vs 72 in March
Median Sales Price: $200,000 vs. March’s $195,000
Median Cumulative Days on Market for SOLD homes: 19 vs. 33
Minimum Price Sold: $20,307
Maximum Price Sold: $975,000
What are the key takeaways?
- Homes are selling faster than they’re being replaced as evidenced by the drop in ACTIVE HOMES at the same time as a significant increase in homes UNDER CONTRACT (Pending)? And sales are quick too, with half of all sold homes under contract in less than 3 weeks! It’s good to be a seller if your home is in good condition and priced right!
- New construction is increasing as resales aren’t keeping up with demand.
- Sales in the luxury range continue to be more limited, accounting for only 12 of the 241 completed sales.
- Distressed (short sales and foreclosures) continue to be a fairly small segment of Warren County homes for sale. Currently the 861 homes for sale include 18 foreclosed homes and 18 short sales. Of the 241 homes sold in April, 15 were foreclosures and 1 was a short sale.
- Bottom line, if you need to sell a home, there’s a lack of homes for sale and there’s still enough activity to support getting our marketing to work for you. If you’re thinking about buying, inventory is tight. Spring is coming soon!
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
