Warren County Ohio Real Estate Market Snapshot August 1, 2015
Summer is winding down and school bells are almost ready to ring! Typically this is when the case, the local real estate market in Warren County starts to slow down. The initial look at Warren County’s housing market indicates this year is following the typical pattern. Fewer homes sold in July than June, prices declined a bit, fewer homes under contract, etc.
Stay with us for a top line review of last month’s Warren County Ohio residential home market.
Warren County Residential Sales Summary (single family homes & condos):
Number of Homes For Sale 8/1/15: 1103 (UP 37 from 1066 7/1/15)
Number of Homes Under Contract (Pending) 8/1/15: 543 (DOWN 21 from 564 7/1/15)
Number of Homes SOLD in July: 304 vs 372 last month (as of July 1) DOWN 68
Average Sales Price: $239,117 vs. June’s $265,370
Average Cumulative Days on Market for SOLD homes: 68 vs 67 in June
Median Sales Price: $199,150 vs. June’s $219,950
Median Cumulative Days on Market for SOLD homes: 29 vs. 20
Minimum Price Sold: $20,000
Maximum Price Sold: $1,100,000
What are the key takeaways?
- The market has cooled a bit. Most stats have reversed course from June’s ALL positive approach to a bit more of a mixed message. The number of homes sold and under contract both declined, as did average and median prices. For the most part, time to sell did not move much.
- As usual, there’s a HUGE spread between the least and most expensive homes sold!
- Distressed (short sales and foreclosures) continue to be a fairly small segment of Warren County homes for sale. Currently the 1103 homes for sale include 25 foreclosed homes and 15 short sales. Of the 304 homes sold in July, 18 were foreclosures and five were 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.