The Warren County Ohio real estate market continues the typical post-Summer slowdown. But even in slowdown mode, the overall real estate market is strong. Plenty of homes sold and plenty of homes under contract, just not peak June type numbers!
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 9/1/17: 795 (DOWN 37 from 832 8/2/17)
Number of Homes Under Contract (Pending) 9/1/17: 494 (DOWN 66 from 560 8/2/17)
Number of Homes SOLD in August: 344 vs 298 last month (as of September 1 UP 46)
Average Sales Price: $266,764 vs. July’s $247,644
Average Cumulative Days on Market for SOLD homes: 41 vs 31 in July
Median Sales Price: $231,250 vs. July’s $215,000
Median Cumulative Days on Market for SOLD homes: 14 vs. 10
Minimum Price Sold: $30,660
Maximum Price Sold: $855,000
What are the key takeaways?
- As expected, more slowdown for the market. Fewer homes are on the market and not under contract. The number of completed sales did increase (one last rush before school starts). There’s still a significant number of homes under contract (Pending), but as expected, overall activity is down.
- 25 homes sold for $500k or more, contributing to an increase in average and median prices when compared to July’s sold values.
- New construction entered in MLS and sold was 32 homes, but MOST new construction homes are not recorded in MLS.
- Distressed (short sales and foreclosures) continued to be insignificant this month with 7 foreclosures and 1 short sale in the 344 sold homes. Currently the 795 homes for sale include 7 foreclosed homes and 5 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