One month of 2018 in the books. It's been warm and it's been cold. We've had snow and we've had sun. I've seen daffodils poking up from the ground and signs that Spring market may already be starting (two new listings for us coming on the market next week). 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 and come back later this month to read our assessments of Mason, Lebanon, Springboro, Maineville/Hamilton Township & Morrow.
Warren County Residential Sales Summary (single family homes & condos):
Number of Homes For Sale 2/1/2018: 563 (DOWN 16 from 579 1/1/18)
Number of Homes Under Contract (Pending) 2/1/18: 352 (UP 58 from 294 1/1/18)
Number of Homes SOLD in January: 141 vs 186 last month (as of January 1 DOWN 45)
Average Sales Price: $223,312 vs. December's $269,030
Average Cumulative Days on Market for SOLD homes: 45 vs 75 in December
Median Sales Price: $192,500 vs. December's $221,500
Median Cumulative Days on Market for SOLD homes: 20 vs. 36
Minimum Price Sold: $52,500
Maximum Price Sold: $650,000
What are the key takeaways?
- Don't let the stats scare you. Look at the Pending number increasing and there's a sign we're already starting to pull away from the winter chill on the real estate market.
- There was a lot of bargain shopping this month. Still fewer homes on the market, but expect that number to climb as some sellers make a move to get the early jump on the Spring selling season.
- Prices dropped, primarily due to the number of luxury homes accounting for only 5 of the 141 homes sold for more than $500,000. And only 3 additional sold for more than $400k..
New construction entered in MLS and sold was 10 homes, and those are just the ones reported in Cincinnati MLS. Made to order homes are often not reported. New construction accounts for 176 of the 563 homes listed in MLS and NOT under contract.
- Distressed (short sales and foreclosures) continued to be insignificant this month with 2 foreclosures and no short sales in the 141 sold homes. Currently the 563 homes for sale include 7 foreclosed homes and 4 short sales.
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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
Serving Warren County Ohio & Adjacent Areas
The Liz Spear Team of RE/MAX Elite
Elizabeth Spear, ABR, CRS, Ohio License SAL.2002007747
William (Bill) Spear, CRS, Ohio License SAL.2004011109 Kentucky 77938
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Two locations: Lebanon & Mason, OH
Bill Direct: 513-520-5305
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