Warren County Ohio Real Estate Market Snapshot July 1, 2016

We’re now in the second half of 2016! Did the Warren County real estate market close out the first half strong? 

June’s performance was very similar to May as far as prices, but completed sales increased significantly!

Let’s take a quick look and see what the June 2016 stats tell us about the Warren County Ohio residential home market.

Warren County Residential Sales Summary (single family homes & condos):

Number of Homes For Sale 7/1/16:  955 (UP  43 from 902 6/1/16)

Number of Homes Under Contract (Pending) 7/1/16: 626 (DOWN  49 from 675 6/1/16)

Number of Homes SOLD in JUNE: 378 vs 306 last month (as of  June 1 UP 72)

Average Sales Price: $249,364 vs. May’s $247,271

Average Cumulative Days on Market for SOLD homes:  59 vs 62 in May

Median Sales Price:  $219,250 vs. May’s $217,750

Median Cumulative Days on Market for SOLD homes:  15 vs. 15

Minimum Price Sold:  $28,000

Maximum Price Sold:  $920,554

What are the key takeaways? 

• Finally more homes on the market so a bit better selection for buyers.  However, the best communities are still very limited.   With about 40% of all homes for sale under contract, we don’t see the selection getting significantly bigger.
  
• Homes are STILL selling FAST!  15 days continued to be the number that half of all SOLD homes were under contract.
  
• Distressed (short sales and foreclosures) continue to be a fairly small segment of Warren County homes for sale.  Currently the 955 homes for sale include 21 foreclosed homes and 10 short sales.  Of the 368 homes sold in June, 10 were foreclosures and 1 was a short sale. 
• Bottom line, if you need to sell a home, there’s a lack of homes for sale and there’s still enough activity to support getting our marketing to work for you.  If you’re thinking about buying, inventory is tight.  We’re in peak season right now!
  

 

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.

Liz and Bill aka BLiz