2018 is already 3/4 of the way over? That was fast!! So how did the Warren County real estate market perform in the 3rd quarter? Typically the real estate market slows down this time of year, so did that actually happen this year?
What do the stats have to tell us about the Warren County Ohio real estate market?
Warren County Residential Sales Summary (single family homes & condos):
Number of Homes For Sale 10/1/2018: 746 (DOWN 48 from 750 9/1/18)
Number of Homes Under Contract (Pending) 10/1/18: 391 (DOWN 36 from 427 9/1/18)
Number of Homes SOLD in September: 242 vs 286 last month (as of October 1 DOWN 44)
Average Sales Price: $258,710 vs. August’s $276,922
Average Cumulative Days on Market for SOLD homes: 364 vs 34 in August
Median Sales Price: $216,000 vs. August’s $234,950
Median Cumulative Days on Market for SOLD homes: 13 vs. 11
Minimum Price Sold: $58,500
Maximum Price Sold: $1,750,000
What are the key takeaways?
- As expected, the market IS slower than the month prior. Fewer homes for sale, fewer under contract, fewer sold. All this is normal. There will STILL be many homes sold before the end of this year.
- Time to sell is still, staying under 2 weeks from market to contract for half the homes under contract.
- 15 homes sold in the luxury category ($500,000 or more).
- New construction entered in MLS and sold was 8 homes, and those are just the ones reported in Cincinnati MLS. Made to order homes are often not reported. New construction accounts for 199 of the 746 homes listed in MLS and NOT under contract.
- Distressed (short sales and foreclosures) continued to be minimal this month with 6 foreclosures and 2 short sales in the 242 sold homes. Currently the 746 homes for sale include 5 foreclosed homes and 1 short sale.
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.
Serving Warren County’s residential real estate needs,
Liz and Bill aka BLiz