We’re in the last month of 2018. Our flower garden is done and waiting on Spring. We’ve had a little snow here and there, and with the cold we usually see a slowing in Warren County Ohio home sales. That’s no surprise, but that doesn’t mean everyone hibernates until Spring. Despite the annual slowdown, 214 homes sold in November and that is still a LOT of homes changing ownership.
What do the stats have to tell us about the Warren County Ohio real estate market?
Warren County Residential Sales Summary (single family homes & condos):
Number of Homes For Sale 121/1/2018: 706 (DOWN 56 from 762 11/1/18)
Number of Homes Under Contract (Pending) 12/1/18: 322 (DOWN 8 from 330 11/1/18)
Number of Homes SOLD in October: 214 vs 269 last month (as of November 1) DOWN 55
Average Sales Price: $275,582 vs. October’s $258,360
Average Cumulative Days on Market for SOLD homes: 53 vs 42 in October
Median Sales Price: $225,500 vs. October’s $215,000
Median Cumulative Days on Market for SOLD homes: 20 vs. 12
Minimum Price Sold: $14,000
Maximum Price Sold: $1,400,000
What are the key takeaways?
- As expected, we’re slower than summer months, but still doing well. There are fewer houses for sale, fewer sold, and they’re taking a little longer to sell.
- Prices were slightly better than the previous month.
- Time to sell remains short, but increased from under 2 weeks to under 3 weeks for half the homes under contract.
- 20 homes sold in the luxury category ($500,000 or more), almost 10% of the total homes sold. Only one home sold for more than $1,000,000.
- New construction entered in MLS and sold was 21 homes, and those are just the ones reported in Cincinnati MLS. New construction accounts for 177 of the 706 homes listed in MLS and NOT under contract.
- Distressed (short sales and foreclosures) continued to be minimal this month with 4 foreclosures and 0 short sales in the 214 sold homes. Currently the 706 homes for sale include 6 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.
Serving Warren County’s residential real estate needs,
Liz and Bill aka BLiz