The consistent theme we’re hearing from agents and home buyers throughout Warren County Ohio? “We need more houses for sale!”. There are fewer homes for sale and the best are under contract quickly and not uncommonly with multiple offers. While we’re getting our buyers under contract, it’s definitely more of a challenge today than it was in 2016!
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 6/1/17: 708 (UP 35 from 673 5/1/17)
Number of Homes Under Contract (Pending) 6/1/17: 552 (DOWN 38 from 590 5/1/17)
Number of Homes SOLD in MAY: 347 vs 272 last month (as of May 1 UP 75)
Average Sales Price: $254,231 vs. April’s $257,456
Average Cumulative Days on Market for SOLD homes: 42 vs 53 in April
Median Sales Price: $222,500 vs. April’s $221,750
Median Cumulative Days on Market for SOLD homes: 11 vs. 15
Minimum Price Sold: $28,050
Maximum Price Sold: $970,000
What are the key takeaways?
- We’ve reached Spring peak. LOTS more homes sold and under contract in much less time.
- Prices were more or less the same as the previous month.
- Luxury sales improved with 21 homes selling for $500k or more.
- Distressed (short sales and foreclosures) continued to be insignificant this month with 11 foreclosures and 2 short sales in the 347 sold homes. Currently the 708 homes for sale include 7 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.
Serving Warren County’s residential real estate needs,
Liz and Bill aka BLiz