As usual this time of year, the real estate market in Warren County Ohio starts tapping the brakes! It’s not inherently bad, just a typical for this time of year as focus shifts to upcoming holidays and the colder weather starts to deter the more casual home buyers. Again, it’s what we expect for this time of year. Let’s take a quick look and see what last month’s stats tell us about the Warren County Ohio residential home market.
Warren County Residential Sales Summary (single family homes & condos):
Number of Homes For Sale 12/1/16: 782 (DOWN 43 from 825 11/2/16)
Number of Homes Under Contract (Pending) 12/1/16: 438 (DOWN 50 from 488 11/2/16)
Number of Homes SOLD in NOVEMBER: 228 vs 298 last month (as of November 2 DOWN 70)
Average Sales Price: $243,321 vs. October’s $257,799
Average Cumulative Days on Market for SOLD homes: 60 vs 65 in October
Median Sales Price: $204,950 vs. October’s $228,950
Median Cumulative Days on Market for SOLD homes: 21 vs. 34
Minimum Price Sold: $15,500
Maximum Price Sold: $2,975,000
What are the key takeaways?
- It’s what we expect for a November: homes available dropped, the number under contract dropped and so did the number of homes sold. Again, all normal here!
- Only 10 homes sold for $500k or more last month and 2 of those were above $1,000,000. The one selling for almost $3 million is a VERY unusual sale, the biggest we’ve seen in months. A 148 acre horse farm that took well over a year to sell.
- Distressed (short sales and foreclosures) sales continue to be an insignificant segment of Warren County homes for sale. Currently the 782 homes for sale include 18 foreclosed homes and 6 short sales. Of the 228 homes sold in November, 11 were foreclosures and 1 was a 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.
Liz and Bill aka BLiz