Warren County is fully into the Spring market! We still have an issue with a shortage of homes for sale, especially for buyers not in the market for new construction homes.
What do the stats have to tell us about the Warren County Ohio real estate market?
Stick with us for a quick overview of this month’s stats.
Warren County Residential Sales Summary (single family homes & condos):
Number of Homes For Sale 6/1/2018: 653 (UP 36 from 617 5/2/18)
Number of Homes Under Contract (Pending) 6/1/18: 556 (DOWN 9 from 565 5/2/18)
Number of Homes SOLD in May: 333 vs 286 last month (as of June 1 UP 47)
Average Sales Price: $286,093 vs. April’s $283,377
Average Cumulative Days on Market for SOLD homes: 40 vs 60 in April
Median Sales Price: $253,500 vs. April’s $236,600
Median Cumulative Days on Market for SOLD homes: 7 vs. 13
Minimum Price Sold: $77,500
Maximum Price Sold: $1,125,000
What are the key takeaways?
- Key stat? Almost half the homes on the market are under contract.
- A significant month to month increase in homes sold.
- Average price was about the same month to month, and median price increased.
- Time to sell was VERY fast for the homes under contract, with half that sold under contract in one week or less.
- 28 luxury homes sold ($500,000 or more in price). 2 of the 28 were over $1,000,000.
- New construction entered in MLS and sold was 35 homes, and that is just the number reported in Cincinnati MLS. Made to order homes are often not reported. New construction accounts for 171 of the 653 homes listed in MLS and NOT under contract.
- Distressed (short sales and foreclosures) continued to be minimal this month with 3 foreclosures and 0 short sales in the 333 sold homes. Currently the 653 homes for sale include 3 foreclosed homes and 1 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 aka BLiz