March has the in like a lion bit down pat in the Warren County Ohio area with today’s thunderstorms, hail and a possible tornado! It has been (to date) a very unusual Winter with an almost total lack of snow. Has the milder weather impacted the Warren County Ohio real estate market?
Let’s take a quick look and see what last month’s stats tell us.
Warren County Residential Sales Summary (single family homes & condos):
Number of Homes For Sale 3/1/17: 694 (UP 41 from 653 2/2/17)
Number of Homes Under Contract (Pending) 2/2/17: 469 (UP 100 from 369 2/2/17)
Number of Homes SOLD in FEBRUARY: 151 vs 194 last month (as of February 2 DOWN 36)
Average Sales Price: $235,623 vs. January’s $224,181
Average Cumulative Days on Market for SOLD homes: 69 vs 60 in January
Median Sales Price: $202,500 vs. January’s $197,375
Median Cumulative Days on Market for SOLD homes: 35 vs. 30
Minimum Price Sold: $17,500
Maximum Price Sold: $1,125,000
What are the key takeaways?
- The best indicator for the local market? Pending sales increased by 100. That means 251 (solds + new pendings) more homes went under contract in February! That’s a lot of activity for the time of year!
- Sellers are getting a jump on the typical Spring rush. Our new listing at the beginning of the month was quickly swarmed by buyers and under contract in less than 2 full days on market!
- Prices increased, but no huge change.
- Time to sell was slightly longer, but no real market change there.
- Another scarce month for luxury sales, with only 6 homes selling for $500k or more. Again, this is just as reported in Cincinnati MLS. Expect some new construction made to order to not be reported in MLS.
- Distressed (short sales and foreclosures) were slight this month with 7 foreclosures and 1 short sale in the 151 sold homes. Currently the 694 homes for sale include 11 foreclosed homes and 7 short sales.
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