The Warren County Ohio real estate market is showing signs of Spring! As I look out our window more and more flowers are blooming! The azaleas & the poppies are loaded with color and more blooms are coming! The local real estate market is showing signs of life too, with more houses overall on the market and homes quickly going under contract!
Let's take a quick look and see what the April 2016 stats tell us about the Warren County Ohio residential home market.
Come back later this month (starting around the 5th) for the start of our detailed market reports for Mason, Lebanon, Springboro, Maineville/Hamilton Township & Morrow. By then all the month end transactions should be accounted for.
Warren County Residential Sales Summary (single family homes & condos):
Number of Homes For Sale 5/1/16: 861 (DOWN 16 from 877 4/1/16)
Number of Homes Under Contract (Pending) 5/1/16: 660 (UP 108 from 552 4/1/16)
Number of Homes SOLD in APRIL: 241 vs 245 last month (as of April 1 DOWN 4)
Average Sales Price: $237,167 vs. March's $219,766
Average Cumulative Days on Market for SOLD homes: 78 vs 72 in March
Median Sales Price: $200,000 vs. March's $195,000
Median Cumulative Days on Market for SOLD homes: 19 vs. 33
Minimum Price Sold: $20,307
Maximum Price Sold: $975,000
What are the key takeaways?
- Homes are selling faster than they're being replaced. Notice the drop in homes ACTIVE on the market, yet the significant increase in homes UNDER CONTRACT (Pending)? And pay close attention to the median days on market: half of all homes for sale under contract happened in less than 3 weeks! It's good to be a seller if your home is in good condition and priced right!
- The shrinkage in inventory is good news for the builders as the decrease in resale availability brings more buyers to them.
- Sales in the luxury range continue to be more limited, accounting for only 12 of the 241 completed sales.
- Distressed (short sales and foreclosures) continue to be a fairly small segment of Warren County homes for sale. Currently the 861 homes for sale include 18 foreclosed homes and 18 short sales. Of the 241 homes sold in April, 15 were foreclosures and 1 were short sales.
- Bottom line, if you need to sell a home, there's a lack of homes for sale and there's still enough activity to support getting our marketing to work for you. If you're thinking about buying, inventory is tight. Spring is coming soon!
Visit our WarrenCountyOhioRealEstate.com website for full search capability without registration requirements.
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
REALTORS(S) Serving Warren County Ohio & Adjacent Areas
The Liz Spear Team of RE/MAX Elite
Elizabeth Spear, ABR, CRS
William (Bill) Spear, CRS
Ask for us by name if you visit the office!
Two locations: Lebanon & Mason, OH
Direct #2: 513-265-3004
Search Homes: Http://WarrenCountyOhioRealEstate.com
Our Website: www.LizTour.com
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