The Warren County Ohio real estate market is continuing the annual slow down as the weather gets colder. As usual, fewer homes on the market and fewer buyers home shopping.
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 11/1/17: 746 (DOWN 29 from 775 10/1/17)
Number of Homes Under Contract (Pending) 11/1/17: 430 (DOWN 20 from 450 10/1/17)
Number of Homes SOLD in October: 243 vs 265 last month (as of November 1 DOWN 22)
Average Sales Price: $243,206 vs. September’s $264,395
Average Cumulative Days on Market for SOLD homes: 46 vs 45 in September
Median Sales Price: $209,000 vs. September’s $235,000
Median Cumulative Days on Market for SOLD homes: 24 vs. 17
Minimum Price Sold: $50,000
Maximum Price Sold: $1,200,000
What are the key takeaways?
- As expected, more slow down. The number of homes on the market, down. Under contract, down. Time to sell? Longer. But again, as expected and not a surprise.
- Prices dropped, but that’s more a reflection of mix. Only 8 homes sold for $500k or more, so a drop from the previous month’s 15 and a further drop from two months ago when that number was 25. It doesn’t mean home values have truly dropped.
- New construction entered in MLS and sold was 26 homes. MOST new construction homes are not recorded in MLS. New construction accounts for 194 of the 746 homes listed in MLS and NOT under contract.
- Distressed (short sales and foreclosures) continued to be insignificant this month with 4 foreclosures and 0 short sales in the 243 sold homes. Currently the 746 homes for sale include 13 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