The leaves are changing color and sellers are starting to think waiting for Spring 2018 might be best for selling their home. Accordingly, The Warren County Ohio real estate market is continuing its annual slow down. Still lots of homes to be sold, just not at the summer pace.
Stick with us for a quick overview of this month’s stats.
Warren County Residential Sales Summary (single family homes & condos):
Number of Homes For Sale 10/1/17: 775 (DOWN 20 from 795 9/1/17)
Number of Homes Under Contract (Pending) 9/1/17: 450 (DOWN 44 from 494 9/1/17)
Number of Homes SOLD in September: 265 vs 344 last month (as of October 1 DOWN 79)
Average Sales Price: $264,395 vs. August’s $266.764
Average Cumulative Days on Market for SOLD homes: 45 vs 41 in August
Median Sales Price: $235,000 vs. August’s $231,259
Median Cumulative Days on Market for SOLD homes: 17 vs. 14
Minimum Price Sold: $40,000
Maximum Price Sold: $885,000
What are the key takeaways?
- As expected, the market has tapped the brakes. Fewer homes to sell, fewer under contract, and a significantly lower number of homes completing their sale. The good news? Prices held steady and time to sell didn’t change much.
- 15 homes sold for $500k or more, so a decrease in the luxury home market for this month.
- New construction entered in MLS and sold was 17 homes, but MOST new construction homes are not recorded in MLS. New construction accounts for 201 of the 775 homes listed in MLS and NOT under contract.
- Distressed (short sales and foreclosures) continued to be insignificant this month with 7 foreclosures and 4 short sales in the 265 sold homes. Currently the 775 homes for sale include 6 foreclosed homes and 2 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.
Serving Warren County’s residential real estate needs,
Liz and Bill aka BLiz
