Trick or treat has passed for another year and we’ve moved into the 11th month of the year. Hard to believe 2015 is winding down! The Warren County real estate market IS slower, but that’s not unusual for this time of year. Fewer homes for sale, fewer under contract, fewer sales completed. But despite that, don’t think there’s NOTHING going on! There are still quite a few homes changing ownership! Let’s take a quick look and see what the October 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 11/1/15: 1013 (DOWN 34 from 1047 10/1/15)
Number of Homes Under Contract (Pending) 11/1/15: 424 (DOWN 25 from 449 10/1/15)
Number of Homes SOLD in October: 222 vs 237 last month (as of October 1) DOWN 15
Average Sales Price: $241,643 vs. September’s $228,109
Average Cumulative Days on Market for SOLD homes: 72 vs 66 in September
Median Sales Price: $208,950 vs. September’s $188,950
Median Cumulative Days on Market for SOLD homes: 38 vs. 31
Minimum Price Sold: $7,000
Maximum Price Sold: $1,082,500
What are the key takeaways?
- Yes, the market IS a bit slower, but there’s still a lot going on. 424 homes under contract means to expect November to match the 222 sales completed in October.
- Average and median prices reversed September’s drop with a nice increase.
- Time to sell was about a week longer than the previous month.
- And as usual, there’s a HUGE difference within Warren County from the cheapest home to the most expensive home!
- Distressed (short sales and foreclosures) continue to be a fairly small segment of Warren County homes for sale. Currently the 1013 homes for sale include 26 foreclosed homes and 11 short sales. Of the 222 homes sold in October, 17 were foreclosures and 3 were short sales.
- Bottom line, if you need to sell a home, there’s still enough activity to support getting our marketing to work for you. If you’re thinking about buying, there’s inventory out there, although some area price segments are slender for choice.
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 [email protected] 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