We blinked and July was over! Back to school sales are out there and just a matter of time until the yellow buses are out and about. So how is the Warren County Ohio real estate market? Is it slowing as it typically does this time of year?
What do the stats have to tell us about the Warren County Ohio real estate market?
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 8/1/2018: 778 (UP 48 from 730 7/1/18)
Number of Homes Under Contract (Pending) 8/1/18: 437 (DOWN 90 from 527 7/1/18)
Number of Homes SOLD in July: 341 vs 338 last month (as of August 1 UP 3)
Average Sales Price: $292,054 vs. June’s $290,891
Average Cumulative Days on Market for SOLD homes: 46 vs 36 in June
Median Sales Price: $240,000 vs. June’s $248,250
Median Cumulative Days on Market for SOLD homes: 12 vs. 8
Minimum Price Sold: $70,214
Maximum Price Sold: $1,565,000
What are the key takeaways?
- Key stat? Prices stayed essentially the same month to month.
- The key differences? Note the number of homes for sale increased, the number of homes under contract decreased, and the time to sell increased. In other words, the expected seasonal slowdown is starting.
- Time to sell is still fast, with less than 2 weeks from market to contract for half the homes under contract.
- 36 homes sold in the luxury category ($500,000 or more)
- New construction entered in MLS and sold was 24 homes, and those are just the ones reported in Cincinnati MLS. Made to order homes are often not reported. New construction accounts for 200 of the 730 homes listed in MLS and NOT under contract.
- Distressed (short sales and foreclosures) continued to be minimal this month with 3 foreclosures and 2 short sales in the 341 sold homes. Currently the 778 homes for sale include 5 foreclosed homes and 1 short sale.
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 [email protected] 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.
Liz and Bill aka BLiz