Warren County Ohio Real Estate Market Update May 2018

Spring has been slow to arrive in Warren County, but it appears to FINALLY be here!  Our flowers are blooming, trees leafing out and the real estate market is showing signs of increased activity.  We’ve added some new homes for sale to the market, both new and used!   

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 5/2/2018:  617 (UP  21 from 596 4/1/18)

Number of Homes Under Contract (Pending) 5/2/18: 565 (UP 57 from 508 4/1/18)

Number of Homes SOLD in March: 286 vs 244 last month (as of  April 1 UP 42)

Average Sales Price: $283,377 vs. March’s $258,506

Average Cumulative Days on Market for SOLD homes:  60 vs 60 in March

Median Sales Price:  $236,600 vs. March’s $232,250

Median Cumulative Days on Market for SOLD homes:  13 vs. 15

Minimum Price Sold:  $41,000

Maximum Price Sold:  $1,400,000

What are the key takeaways? 

• Key stat?  The slight increase in homes for sale.  We need more on the market to suit buyers’ needs. 
• The number of homes under contract increased, as did the number of homes sold.
  
• Prices increased on average, and slightly for the median price when comparing month to month.
  
• 20 luxury homes sold ($500,000 or more in price).  2 of the 20 were over $1,000,000.    
• New construction entered in MLS and sold was 34 homes, and those are just the ones reported in Cincinnati MLS.  Made to order homes are often not reported.  New construction accounts for 163 of the 617 homes listed in MLS and NOT under contract.
  
• Distressed (short sales and foreclosures) continued to be minimal this month with 5 foreclosures and 1 short sales in the 286 sold homes.  Currently the 617 homes for sale include 5 foreclosed homes and 1 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