Warren County Ohio Real Estate Market Snapshot June 1, 2015
As the school year ends, we’re seeing a typical pattern in local real estate activity. We had a surge in completed sales, prices are stable and homes are selling a bit faster.
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 6/1/15: 1047 (UP 50 from 997 5/1/15)
Number of Homes Under Contract (Pending) 6/1/15: 614 (DOWN 16 from 630 5/1/15)
Number of Homes SOLD in May: 322 vs 195 last month (as of May 1) UP 127
Average Sales Price: $239,567 vs. April’s $242,030
Average Cumulative Days on Market for SOLD homes: 72 vs 76 in April
Median Sales Price: $194,950 vs. April’s $195,500
Median Cumulative Days on Market for SOLD homes: 26 vs. 31
Minimum Price Sold: $14,000
Maximum Price Sold: $1,715,000
What are the key takeaways?
- A nice surge in the completed sales in May. The annual climb to the summer peaks is well underway. The 616 under contract is also a very solid number! The question of the moment: Are enough homes coming on the market to supply buyer demand?
- Days to get under contract also dropped, so it’s obvious demand is out there.
- Prices were for all intent the same as the previous month.
- Distressed (short sales and foreclosures) continue to be a fairly small segment of Warren County homes for sale. Currently the 1047 homes for sale include 39 foreclosed homes and 22 short sales. Of the 322 homes sold in May, 18 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.
Liz and Bill