Warren County Ohio Real Estate Market Update March 2017

Published On: March 1, 2017|Categories: Market Reports|Tags: market report|

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