Happy New Year everyone! Old Man 2014 has turned the page and Baby New Year 2015 has entered the stage! What will 2015 bring? Whatever it does, we’ll be bringing you the latest information throughout the year! For now, let’s review December and close out 2014!
Warren County Residential Sales Summary (single family homes & condos):
Number of Homes For Sale 1/1/15: 928 (DOWN 114 from 1042 12/1/14)
Number of Homes Under Contract (Pending) 1/1/15: 280 (DOWN 79 from 359 12/1/14)
Number of Homes SOLD in December: 197 vs 162 last month (as of December 1) UP 35
Average Sales Price: $230,421 vs. November’s $241,824
Average Cumulative Days on Market for SOLD homes: 86 vs 76
Median Sales Price: $198,000 vs. November’s $187,250
Median Cumulative Days on Market for SOLD homes: 49 vs. 50
Minimum Price Sold: $19,000
Maximum Price Sold: $755,000
What are the key takeaways?
- Inventory continues to drop as homes being sold and going under contract are not being replaced by homes newly placed on the market. Combine that with some sellers taking their home off the market for the holiday season and you get slimmer choice if you’re looking to buy.
- Actual quantity of homes sold actually went UP when compared to November.
- Time on market remained relatively the same and prices are in the same general area without any large moves.
- 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 928 homes for sale include 34 foreclosed homes and 28 short sales. Of the 197 homes sold in November, 19 were foreclosures and 3 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.
