The real estate stats for Warren County Ohio real estate market are indicating we’re past the peak selling season. That’s not unusual as it happens about this time year after year. Part of the push is to get into new homes BEFORE kids start school again, so once we get past that date milestone there are fewer buyers looking. That doesn’t mean LOTS of homes won’t be sold through the end of 2017 though!
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 8/2/17: 832 (UP 47 from 785 7/1/17)
Number of Homes Under Contract (Pending) 8/2/17: 560 (DOWN 2 from 562 7/1/17)
Number of Homes SOLD in JULY: 298 vs 338 last month (as of August 2 DOWN 40)
Average Sales Price: $247,644 vs. June’s $274,287
Average Cumulative Days on Market for SOLD homes: 31 vs 47 in June
Median Sales Price: $215,000 vs. June’s $235,450
Median Cumulative Days on Market for SOLD homes: 10 vs. 12
Minimum Price Sold: $23,000
Maximum Price Sold: $922,783
What are the key takeaways?
- The message is there: the Warren County Ohio real estate market is starting its annual slowdown from the summer peak. The number of homes sold decreased, the number of homes offered increased, the number of homes under contract declined, and prices slipped a bit. This is normal for our market as we usually peak in June/July and then slope down until the following Spring.
- Prices decreased, but that was due to a scarcity of luxury home sales. In June there were 26 homes sold for $500k or more. July? Just 9.
- New construction entered in MLS and sold was only 21 homes, but keep in mind MOST new construction homes are not recorded in MLS since they’re built to order and not market homes.
- Distressed (short sales and foreclosures) continued to be insignificant this month with 4 foreclosures and 1 short sale in the 298 sold homes. Currently the 832 homes for sale include 9 foreclosed homes and 6 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