Warren County Ohio Real Estate Market Snapshot September 1, 2015
August went by quickly, schools are back in session and the days aren’t quite as hot as they used to be! And the same holds true for the local real estate market! We’re starting the annual slow down in activity. By no means is the market going into hibernation, but it’s SLIGHTLY down. A few less sales, a few less homes for sale. It’s normal for this time of year. Overall, for the most part August activity matched July, just in a little less quantity.
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 9/1/15: 1068 (DOWN 35 from 1103 8/1/15)
Number of Homes Under Contract (Pending) 9/1/15: 473 (DOWN 70 from 543 8/1/15)
Number of Homes SOLD in August: 298 vs 304 last month (as of August 1) DOWN 6
Average Sales Price: $241,611 vs. July’s $239,117
Average Cumulative Days on Market for SOLD homes: 64 vs 68 in July
Median Sales Price: $206,500 vs. July’s $199,150
Median Cumulative Days on Market for SOLD homes: 28 vs. 29
Minimum Price Sold: $24,100
Maximum Price Sold: $920,000
What are the key takeaways?
- The market has cooled slightly and the biggest indicator for that is the drop in homes under contract. 473 is still a lot of homes under contract, but it doesn’t match up with July’s 543. That’s still basically 1 of every 3 homes for sale is currently under contract.
- On the other hand, prices and times to sell stayed almost constant.
- Distressed (short sales and foreclosures) continue to be a fairly small segment of Warren County homes for sale. Currently the 1068 homes for sale include 33 foreclosed homes and 15 short sales. Of the 298 homes sold in August, 10 were foreclosures and 5 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 [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.