Normally the local real estate market slows down a bit as we head to the holidays. Did that hold true for the Warren County market this year? 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 12/1/14: 1042 (DOWN 102 from 1144 11/1/14)
Number of Homes Under Contract (Pending) 12/1/14: 359 (DOWN 11 from 370 11/1/14)
Number of Homes SOLD in September: 162 vs 227 last month (as of November 1) DOWN 65
Average Sales Price: $241,824 vs. October’s $237,127
Average Cumulative Days on Market for SOLD homes: 76 vs 92
Median Sales Price: $187,250 vs. October’s $185,000
Median Cumulative Days on Market for SOLD homes: 50 vs. 46
Minimum Price Sold: $26,001
Maximum Price Sold: $1,640,000
What are the key takeaways?
- We are seeing some of the typical slowdown in real estate activity for this time of year. Home offered for sale continue to drop as did the number of sales completed. However, the number of homes under contract is still strong.
- Time on market remained relatively the same. However, those numbers can vary VERY radically from some of the best subdivisions to other more challenging homes to sell (think country homes a long commute away from buyer’s jobs).
- Average and median prices stayed VERY close to the month prior values.
Distressed (short sales and foreclosures) continue to be a fairly small segment of Warren County homes for sale, and their involvement in the market continues to be minimal. The 1042 homes for sale include 32 foreclosed homes and 27 short sales. Of the 162 homes sold in November, 8 were foreclosures and 4 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.