It may be hard to believe, but we're now in the second half of 2016! How did Warren County's real estate market close out the first half? June's performance was very similar to May as far as prices, but more homes completed sale by a sizable amount. And still over 600 homes are under contract!
Let's take a quick look and see what the June 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 7/1/16: 955 (UP 43 from 902 6/1/16)
Number of Homes Under Contract (Pending) 7/1/16: 626 (DOWN 49 from 675 6/1/16)
Number of Homes SOLD in JUNE: 378 vs 306 last month (as of June 1 UP 72)
Average Sales Price: $249,364 vs. May's $247,271
Average Cumulative Days on Market for SOLD homes: 59 vs 62 in May
Median Sales Price: $219,250 vs. May's $217,750
Median Cumulative Days on Market for SOLD homes: 15 vs. 15
Minimum Price Sold: $28,000
Maximum Price Sold: $920,554
What are the key takeaways?
- More homes on the market again, so good to see a wider selection. However, it can still be pretty tight on inventory in the best communities. And with about 40% of all homes for sale under contract, we don't see the selection getting significantly bigger.
- Homes are STILL selling FAST! 15 days continued to be the number that half of all SOLD homes were under contract.
- Distressed (short sales and foreclosures) continue to be a fairly small segment of Warren County homes for sale. Currently the 955 homes for sale include 21 foreclosed homes and 10 short sales. Of the 368 homes sold in June, 10 were foreclosures and 1 was a short sale.
- 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. We're in peak season right now!
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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