The furry rodent in Pennsylvania saw his shadow this morning, so does that mean 6 weeks of slow real estate activity? Cold weather usually puts a damper on real estate sales in Warren County Ohio homes sales, so 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 2/2/17: 653 (UP 25 from 628 1/1/17)
Number of Homes Under Contract (Pending) 2/2/17: 369 (DOWN 2 from 371 1/1/17)
Number of Homes SOLD in JANUARY: 194 vs 230 last month (as of January 1 DOWN 36)
Average Sales Price: $224,181 vs. December’s $256,582
Average Cumulative Days on Market for SOLD homes: 60 vs 67 in December
Median Sales Price: $197,375 vs. December’s $222,000
Median Cumulative Days on Market for SOLD homes: 30 vs. 30
Minimum Price Sold: $17,250
Maximum Price Sold: $1,090,000
What are the key takeaways?
- Typical for January, homes sold dropped. That makes sense, as December isn’t a prime month for househunting as people put more emphasis on family time for the holidays.
- More homes are on the market, but not much more.
- Prices dropped a bit, but nothing to cause alarm
- The time it takes to get a home under contract dropped for both average and median. Again, to be expected for the time of year.
- Why did the prices drop? This month there was a scarcity of luxury home sales. Only 5 homes sold for more than $500,000 and only one of those 5 for more than $1 million.
- Warren County Ohio Distressed (short sales and foreclosures) bumped up this month with 16 foreclosures in the 194 sold homes. None of the 194 were short sales. Currently the 653 homes for sale include 14 foreclosed homes and 6 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 [email protected] 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