Warren County Ohio Real Estate News and Observations

What's My Morrow Ohio Home Worth? November 2018

It's colder and the Morrow market is slowing as expected.  A bit longer to sell and fewer homes on the market.  Be a little skeptical of average and median prices since with only 16 homes sold it's fairly easy to have big moves depending on the monthly mix of where and what buyers purchased.  Stick with us for further details.

We're including some easy to use Search Morrow Homes For Sale links at the end!

This report is specific to zip code 45152 (includes homes in portions of Union Township, Salem Township, Hamilton Township, Harlan Township and Washington Township in addition to Morrow).  45152 is covered primarily by Little Miami Schools but also has Lebanon and Kings school district present. 

For a free home valuation, home owners please click What Is My Morrow Ohio Home Value? and fill out the form.

All data is derived from the Cincinnati MLS system.  If any Morrow area homes traded hands without a REALTOR® involved, then those sales  won't be reflected in this report. 

Wedgwood of Morrow OhioWedgwood, a typical Morrow area subdivision (although the new construction is finished there!)

With regards to housing choices in 45152, there are quite a few developments, with the majority focused at the $200k price point with many starter type homes available well below that.  There are also several smaller communities with a focus on upper end properties with larger lots.  Additionally, there are some patio home communities also available.  And of course if your preference is rural living with more acreage, there's plenty of opportunity for that too! 

So, on to the review!
 
First up is the number of Morrow area single family homes sold on a month by month basis for 2010 through present month:
Morrow Ohio 45152 Residential Home Market Report
Next is the Morrow median price summary chart.
Morrow Single Family Home Market Report

 

Morrow 45152 Single Family Home Summary:

Homes Sold: 16 (1 Bank/Government Owned, 0 Short Sale, 2 New Construction) UP 3

Average Price Sold:  $322,351 UP $18k

Median Price Sold:  $276,000 DOWN $28.5k

Average Days on Market for SOLD homes: 31 UP 5 (median 15)

Homes Active 12/10/18: 65 DOWN 8

Homes Pending 12/10/18: 26 DOWN 4

Average Sales/List %:  98.0% DOWN 1.1%

Most Expensive Home Sold:  $880,000

Least Expensive Home Sold:  $148,000

 

So what can we determine from the latest statistics? 

  • The sold home total was typical for the last few years for a November. 
  • Prices are easily swayed by the low volume, and Aberlin Springs is adding higher priced homes to the area.  7 homes sold for more than $300,000 and of those 7 homes 4 sold for $400,000 or more (and 2 of those 4 were Aberlin Springs new construction). 
  • The number of homes for sale decreased again (as the temperatures get colder, so does the market).
  • Over half of the homes for sale and not under contract are new construction (35 of 65).   
  • Time to sell increased, and that's also expected for the time of year.  
  • The number of homes under contract decreased, by 4, and we'd expect December sales to be similar to November's total. 
  • Distressed property accounted for none of the 16 sold and 2 of the 65 for sale.

 

So what does this mean to you as a Morrow single family home owner?

STILL NO REASON TO CHANGE FROM LAST MONTH:  Low inventory levels work to your advantage, just as long as you take into account the new construction competition.  If you live in a community still actively building, that's a key consideration when pricing your home. 

Overall, demand varies based on subdivision or rural location, home features, new construction competition, etc. 

Buyer demand is obviously there based on the number of homes under contract.  However, it does typically take longer to sell than other communities with an easier commute to Cincinnati.

For an evaluation of your specific home's marketability, please contact us.  

 

So what does this mean to you as a potential Morrow home buyer? 

NO REASON TO CHANGE HERE EITHER: Competition for the best homes is there, but it's not as severe as other places in Warren County.  The best homes CAN sell quickly.  Inventory is VERY low. If Morrow's location fits your needs, there is good value in Morrow homes.  The commute is actually faster than most people expect, and there's both resale and new construction to choose from for your purchase.  You've got your pick of VERY affordable housing. 

Inventory levels are NOT as high as other areas of Warren County, so depending on your housing needs, there may not be a good match on the market.   You can use these Search Morrow Homes For Sale links to get an idea of what is currently offered.  Interested in new construction?  We can help with that too, so just call 513-520-5305.

Search Morrow Ohio 45152 Homes For Sale Under $200,000

Search Morrow Ohio 45152 Homes For Sale $200,000 to $400,000

Search Morrow Ohio 45152 Homes For Sale $400,000 and Up 

However, one key piece of advice that applies in Morrow and elsewhere:  If you see something you like, don't wait on it assuming there will be a price reduction.  Get your offer written, submitted and negotiated to final signatures as rapidly as possible. 

When you're considering buying a Morrow area home, please contact us with your needs and we'll help you find the right community or country spot for you! 

Serving Warren County's home buyers and sellers,
Liz and Bill aka BLiz

 

 

Recent Morrow Market Reports:

October 2018 Morrow Ohio Real Estate Report

September 2018 Morrow Ohio Real Estate Report

August 2018 Morrow Ohio Real Estate Report

July 2018 Morrow Ohio Real Estate Report

June 2018 Morrow Ohio Real Estate Report

May 2018 Morrow Ohio Real Estate Report

April 2018 Morrow Ohio Real Estate Report

March 2018 Morrow Ohio Real Estate Report

February 2018 Morrow Ohio Real Estate Report

January 2018 Morrow Ohio Real Estate Report

 

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
Ask for us by name if you visit the office!

EHO Two locations: Lebanon & Mason, OH
Bill Direct:  513-520-5305
Liz Direct: 513-265-3004     
Fax: 866-302-8418

MailTo:  Liz@LizSpear.com

Search Homes:  Http://WarrenCountyOhioRealEstate.com

Our Website:  www.LizTour.com

 FacebooktwitterWordpressYouTube Pinterest

 

 

 

 

 

 

OUR SERVICE AREA:


View Liz Spear Team of RE/MAX Elite Primary Service Area in a larger map

Comment balloon 0 commentsLiz and Bill Spear • December 11 2018 12:55AM
What's My Morrow Ohio Home Worth? November 2018
share
It's colder and the Morrow market is slowing as expected. A bit longer to sell and fewer homes on the market. Be a little skeptical of average and median prices since with only 16 homes sold it's fairly easy to have big moves depending on the… more
What's My Maineville/Hamilton Township Home Worth? November 2018
share
The slow part of the year for Maineville home sales is here. Sales volume is down, time to sell slower, all the usual aspects typical for this time of year are on display. Stick with us for the details right after the stats section further down… more
What's My Mason Ohio Home Worth? November 2018
share
Mason Ohio home sales were slower than summer, but still doing well for this time of year. Time to sell slowed, but prices remain stable. Stay with us for more details for Mason homes! Is the activity affecting your Mason Ohio home's worth … more
What's My Mason Ohio Condo Worth? November 2018 Update
share
Mason Ohio's condo market was strong in November, but we expect a dip for the holiday season. There just aren't enough Mason condos for sale to meet all buyer needs. Properly presented and priced, Mason condos are still selling in less than 2… more
What's My Lebanon Ohio Home Worth? November 2018 Update
share
The Lebanon Ohio real estate market was remarkably busy in November, with a new November total sold high when compared to 2010 through 2017. Prices were good and time to sell remained good. Read below to get the full details! We offer links at… more
Warren County Ohio Real Estate Market Snapshot December 1 2018
share
We've entered the last month of the calendar year. All the flowers have finished blooming, we've had some hard frosts and even a little snow. And with all of that comes the typical slow down in the Warren County real estate market. There is no… more
What's My Springboro Ohio Home Worth? October 2018
share
Sold by The Liz Spear Team of RE/MAX Elite in Springboro's Stone Ridge The Woods The Springboro Ohio real estate market was very solid in October, with an increase in homes sold and stable prices. It's still the slower time of the year, but… more
What's My Morrow Ohio Home Worth? October 2018
share
Take the numbers for October for Morrow Ohio home sales with a big grain of salt. With completed sales down to 13 homes in October, it is VERY easy to have significant fluctuations in sales prices. We're in the typical slower part of the year. … more
What's My Maineville/Hamilton Township Home Worth? October 2018
share
We're continuing the slower part of the sales year. It's typical to see fewer homes sold this time of year, fewer under contract and more homes available for sale as buyer demand slows a bit. What was unexpected was the shift upwards in price as… more
What's My Lebanon Ohio Home Worth? October 2018 Update
share
The Lebanon Ohio real estate market is slower than summer peak, but still a steady market for home prices and total homes under contract. This is typical for this time of year. Read below to get the full details! We offer links at the bottom of… more