The Warren County Ohio real estate market is ramping up for the summer peak! PLENTY of homes under contract and 306 home sales were completed in May!
A quick look at the May stats and we’ll know the trends of the local Warren County Ohio market.
Warren County Residential Sales Summary (single family homes & condos):
Number of Homes For Sale 6/1/16: 902 (UP 41 from 861 5/1/16)
Number of Homes Under Contract (Pending) 6/1/16: 675 (UP 15 from 660 5/1/16)
Number of Homes SOLD in MAY: 306 vs 241 last month (as of May 1 UP 65)
Average Sales Price: $247,271 vs. April’s $237,167
Average Cumulative Days on Market for SOLD homes: 62 vs 78 in April
Median Sales Price: $217,750 vs. April’s $200,000
Median Cumulative Days on Market for SOLD homes: 15 vs. 19
Minimum Price Sold: $17,000
Maximum Price Sold: $1,220,000
What are the key takeaways?
- We’re finally gaining ground where there are more homes coming on the market than are being sold. It’s not a HUGE gain, but at least a bit of a gain. That’s still a HUGE portion of homes under contract (675) and while not half the homes on the market are under contract, we’re not all that far off.
- Homes are selling FAST! Half of all homes that went under contract only needed 15 days
- Distressed (short sales and foreclosures) continue to be a fairly small segment of Warren County homes for sale. Currently the 902 homes for sale include 21 foreclosed homes and 18 short sales. Of the 306 homes sold in May, 10 were foreclosures and 2 were short sales.
- 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