The Warren County Ohio real estate market continues to slow, but that is typical for the time of year. There are fewer homes on the market and fewer homes under contract. However, there are still buyers looking for the perfect match, so waiting until Spring to put your home on the market might not be necessary.
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 12/1/17: 675 (DOWN 71 from 746 11/1/17)
Number of Homes Under Contract (Pending) 12/1/17: 336 (DOWN 94 from 430 11/1/17)
Number of Homes SOLD in November: 275 vs 243 last month (as of December 1 UP 32)
Average Sales Price: $297,021 vs. October’s $243,206
Average Cumulative Days on Market for SOLD homes: 66 vs 46 in October
Median Sales Price: $249,900 vs. October’s $209,000
Median Cumulative Days on Market for SOLD homes: 27 vs. 24
Minimum Price Sold: $20,000
Maximum Price Sold: $2,500,000
What are the key takeaways?
- The norm for this time of year: fewer homes on the market, longer time to sell, etc.
- What wasn’t the norm? FOUR homes sold for more than $1 million, and the $2.5 million dollar sale is the first over $2 million we’ve seen in quite awhile! Mason’s Long Cove accounted for #1 and #2 on the list of most expensive. The “small” home of the pair was over 7200 sq ft, and the larger home at 11,000 sq ft.
- Prices rose, but thank the proportion of luxury homes selling. 21 homes sold for $500k or more.
- New construction entered in MLS and sold was 37 homes, and those are just the ones reported in Cincinnati MLS. Made to order homes are often not reported. New construction accounts for 194 of the 675 homes listed in MLS and NOT under contract.
- Distressed (short sales and foreclosures) continued to be insignificant this month with 2 foreclosures and 3 short sales in the 275 sold homes. Currently the 675 homes for sale include 10 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
