Warren County Ohio Real Estate Market Snapshot March 2014 Summary

Spring is here.  Our crocus are blooming.  Our daffodils are blooming.  Has the Warren County Ohio real estate market also bloomed with the departure of Jack Frost?  Early signs are favorable!!

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

Number of Homes For Sale 4/1/14:  1049 (UP 78 from 971 3/1/14)

Number of Homes Under Contract (Pending) 4/1/14: 417 (UP 34 from 383 3/1/14)

Number of Homes SOLD in March: 203 vs 124 last month (as of Mar. 1)

Average Sales Price: $213,806 vs. February’s $208,582

Average Cumulative Days on Market for SOLD homes:  91 vs 82

Median Sales Price:  $185,500 vs. February’s $169,000

Median Cumulative Days on Market for SOLD homes:  73 vs. 62

Minimum Price Sold:  $14,630

Maximum Price Sold:  $770,000

What are the key takeaways? 

• The SOLD category really shot up!!
• The number of homes OFFERED for sale also increased (typical as the weather gets better).
• The number of homes UNDER CONTRACT (PENDING) also increased.  Also typical for this time of year.
• Days on market was a wee bit longer, but that’s not a significant shift.
• Home prices were also better.
  

Overall, a VERY positive month that bodes well for April’s market.

Distressed (short sales and foreclosures) continue to be a fairly small segment of Warren County homes for sale, and their involvement in the market decreased in March.  The 1049 homes for sale includes 33 foreclosed homes and 37 short sales.  Of the 203 homes sold in March, 24 were foreclosures and 7 were short sales.

For an in depth analysis of YOUR particular neighborhood and home, call us at 513-265-3004 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.