Warren County Ohio Real Estate Market Update May 2017

Published On: May 2, 2017|Categories: Market Reports|Tags: market report|

It’s May for the Warren County Ohio real estate market and we’re seeing some area markets have high demand and not nearly enough homes for sale to meet demand. For instance, we’ve been working with buyers who want a home in the West Chester/Mason/Kings Mills area and almost every home we’ve toured has gone multiple offers in the first day or two. It’s critical to be preapproved, move fast and bid strong becomes a necessity. Spring has officially arrived and the market and our life shows it!

Warren County Residential Sales Summary (single family homes & condos):

Number of Homes For Sale 5/1/17: 673 (UP 4 from 669 4/1/17)

Number of Homes Under Contract (Pending) 5/1/17: 590 (UP 29 from 561 4/1/17)

Number of Homes SOLD in APRIL: 272 vs 250 last month (as of April 1 UP 22)

Average Sales Price: $257,456 vs. March’s $252,609

Average Cumulative Days on Market for SOLD homes: 53 vs 66 in March

Median Sales Price: $221,750 vs. March’s $224,000

Median Cumulative Days on Market for SOLD homes: 15 vs. 21

Minimum Price Sold: $15,000

Maximum Price Sold: $1,005,000

What are the key takeaways?

The market is heating up! More houses are needed to meet demand. This month had a slight uptick in choice, a bump up in homes under contract and a bump of homes sold.
Prices were more or less the same as the previous month.
Luxury sales improved with 18 homes selling for $500k or more .
Distressed (short sales and foreclosures) sales continued to be insignificant this month with 7 foreclosures and 1 short sales in the 272 sold homes. Currently the 673 homes for sale include 8 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