Warren County Ohio home sales was close to level from July to August for completed sales and time to sell. We are seeing signs of the annual slowdown.
Stick around for a top level overview!
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 9/1/2019: 698 (UP 15 from 683 8/1/19)
Number of Homes Under Contract (Pending) 9/1/19: 397 (DOWN 65 from 462 8/1/19)
Number of Homes SOLD in August: 321 vs 324 last month (as of August 1) DOWN 3
Average Sales Price: $276,394 vs. July's $301,308
Average Cumulative Days on Market for SOLD homes: 33 vs 39 in July
Median Sales Price: $245,000 vs. July's $260,000
Median Cumulative Days on Market for SOLD homes: 9 vs. 11
Minimum Price Sold: $48,000
Maximum Price Sold: $1,470.000
What are the key takeaways?
- As expected for the time of year, some signs of the annual slowdown: the number of homes for sale up slightly and the number of homes under contract down significantly
- On the more positive side, the average time to sell dropped and the number of homes sold increased slightly from July to August.
- Prices are down from July to August with a decrease in luxury homes sold.
- Out of the 321 homes sold, 1 sold for more than 1 million and 22 total sold for $500,000 or more (the local definition of luxury market homes).
- Outside of the MLS information are the hidden new construction homes. Made to order homes are generally NOT entered in Cincinnati MLS. Reported new construction accounted for 22 of the 324 reported.
- The other big contributor is the scarcity of resale homes for sale in Warren County. With 184 of the 698 homes listed for sale as new construction, that leaves 514 resale homes. That's all types of homes and price ranges. Narrow down to specific locations and the selection is slim.
- Distressed (short sales and foreclosures) accounted for 3 sale this month with 3 foreclosure and 0 short sales in the 324 sold homes. Currently the 698 homes for sale include 5 foreclosed homes and 4 short sale.
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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
Ask for us by name if you visit the office!
Two locations: Lebanon & Mason, OH
Bill Direct: 513-520-5305
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