Tomorrow that groundhog has his say about the weather for the next weeks. We’re betting on more cold, but hoping for some warmth!
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 2/1/15: 925 (DOWN 3 from 928 1/1/15)
Number of Homes Under Contract (Pending) 2/1/15: 300 (UP 20 from 280 1/1/15)
Number of Homes SOLD in December: 142 vs 197 last month (as of January 1) DOWN 55
Average Sales Price: $226,333 vs. December’s $230,421
Average Cumulative Days on Market for SOLD homes: 105 vs 86
Median Sales Price: $167,500 vs. December’s $198,000
Median Cumulative Days on Market for SOLD homes: 77 vs. 49
Minimum Price Sold: $12,000
Maximum Price Sold: $1,479,000
What are the key takeaways?
- The number of homes not under contract was essentially even. The number of homes under contract went up. This matches our personal observation that buyers are picking 2015 as the time to buy a home. While fewer home sales completed in January, that’s more a reflection of a bit less looking in December (mostly due to the holiday season).
- Time on market increased, but that jives with the decrease in buyers shopping in December. A bit less looking means more time on market.
- Distressed (short sales and foreclosures) continue to be a fairly small segment of Warren County homes for sale, and their involvement in the market continues to be minimal. The 925 homes for sale include 29 foreclosed homes and 287short sales. Of the 142 homes sold in January, 17 were foreclosures and 4 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.