Warren County Ohio Real Estate Market Snapshot April 2014
The weather keeps getting warmer, the buds are out on the trees, plenty of flowers blooming, the raucous sound of lawnmowers is more and more common! Has the Warren County Ohio real estate market sprung into action, or lazily awakening from the freeze of winter?
We’ll give you a quick overview based on the early info and you can come back later this month (starting around the 5th) for the start of our detailed market reports for Mason, Lebanon, Springboro, Maineville/Hamilton Township & Morrow.
Warren County Residential Sales Summary (single family homes & condos):
Number of Homes For Sale 5/1/14: 1124 (UP 75 from 1049 4/1/14)
Number of Homes Under Contract (Pending) 5/1/14: 487 (UP 70 from 417 4/1/14)
Number of Homes SOLD in April: 203 vs 203 last month (as of Mar. 1) FLAT
Average Sales Price: $220,206 vs. March’s $213,806
Average Cumulative Days on Market for SOLD homes: 73 vs 91
Median Sales Price: $182,000 vs. March’s $185,500
Median Cumulative Days on Market for SOLD homes: 42 vs. 73
Minimum Price Sold: $13,000
Maximum Price Sold: $1,180,000
What are the key takeaways?
- The SOLD stayed FLAT! That was a bit of a surprise since typically we see increases month on month this time of year.
- The number of homes OFFERED for sale increased (EXPECTED).
- The number of homes UNDER CONTRACT (PENDING) also increased. Also EXPECTED for the time of year.
- Days on market dropped significantly, and that makes sense. Take a look at the Mason home market in the $200-$350k range and the best houses are under contract in fewer days than you have fingers.
- Home prices stayed about the same, average up a little bit, median down a little bit.
- Overall, a positive month and the high number of Pendings signals well for May’s Sold numbers to be better than April’s.
Distressed (short sales and foreclosures) continue to be a fairly small segment of Warren County homes for sale, and their involvement in the market decreased in March. The 1124 homes for sale includes 34 foreclosed homes and 35 short sales. Of the 203 homes sold in April, 18 were foreclosures and 8 were short sales.
For an in depth analysis of YOUR particular neighborhood and home, call us at 513-520-5305 or email 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.