With Spring comes erratic Ohio weather! We’ve got daffodils blooming and shrubs starting to bud…and snow in the forecast! With Spring comes the usual increase in real estate market activity. We’ve got a new listing on the market tomorrow and have another seller getting ready for a bit later.
What do the stats have to tell us about the Warren County Ohio real estate market?
Stick with us for a quick overview of this month’s stats.
Warren County Residential Sales Summary (single family homes & condos):
Number of Homes For Sale 4/1/2018: 596 (UP 24 from 572 3/1/18)
Number of Homes Under Contract (Pending) 4/1/18: 508 (UP 162 from 346 3/1/18)
Number of Homes SOLD in March: 244 vs 170 last month (as of March 1 UP 74)
Average Sales Price: $258,506 vs. February’s $243,473
Average Cumulative Days on Market for SOLD homes: 60 vs 72 in February
Median Sales Price: $232,250 vs. February’s $219,500
Median Cumulative Days on Market for SOLD homes: 15 vs. 38
Minimum Price Sold: $31,500
Maximum Price Sold: $921,500
What are the key takeaways?
- The key statistic this month? The huge jump in homes under contract. That’s a good sign that the buyers are ready for another strong shopping season!
- The homes for sale increased slightly net month to month, but new contracts offset most of the new homes on the market.
- Prices increased relative to February.
- 13 luxury homes sold ($500,000 or more in price).
- New construction entered in MLS and sold was 18 homes, and those are just the ones reported in Cincinnati MLS. Made to order homes are often not reported. New construction accounts for 174 of the 596 homes listed in MLS and NOT under contract.
- Distressed (short sales and foreclosures) continued to be minimal this month with 6 foreclosures and no short sales in the 244 sold homes. Currently the 596 homes for sale include 6 foreclosed homes and 2 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.
Liz and Bill aka BLiz