Warren County Ohio Real Estate News and Observations: Ohio: Morrow

What's My Morrow Ohio Home Worth? February 2019

Morrow LITERALLY had a fire sale in February.  The lowest priced home sold for $18,000 and that was due to a fire in the home.  Cash buyers only, lots of renovations needed.  Couple that with a foreclosure also sold below $100,000 AND the low volume of sales in February and it was easy to move the price dials downward.  And those big drops you see later basically reversed almost equivalent big gains in January.  So all things considered, basically a "normal" month for Morrow Ohio real estate sales!  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 2013 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: 11 (1 Bank/Government Owned, 0 Short Sale, 1 New Construction) DOWN 2

Average Price Sold:  $275,842 DOWN $65k

Median Price Sold:  $220,000 DOWN $60k

Average Days on Market for SOLD homes: 103 UP 24 (median 72)

Homes Active 3/10/19: 57 DOWN 1

Homes Pending 3/10/19: 28 UP 11

Average Sales/List %:  99.3% UP 0.2%

Most Expensive Home Sold:  $420,000

Least Expensive Home Sold:  $18,000

 

So what can we determine from the latest statistics? 

  • Actually February sales totals weren't bad for a February.  Not the best year, but not the worst either.   
  • The pending number increased quite a bit, so expect a bump up in March for Sold homes.      
  • As we mentioned at the start, home values reversed January's big gains, but again, low overall sales and easily influenced by the fire sale and lender sale.  And despite that, check the median price chart and compare that $220,000 to past February's and you'll see Morrow actually did pretty well for pricing despite having only one home sell for more than $300,000.
  • New construction accounts for over half the homes not under contract (31 of the 57).     
  • Time to sell moved to close to 3 months, but again, 11 houses sold can skew data pretty easily. 
  • Distressed property accounted for 1 of the 11 sold and none of the 57 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:

January 2019 Morrow Ohio Real Estate Report

December 2018 Morrow Ohio Real Estate Report

November 2018 Morrow Ohio Real Estate Report

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:  Https://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 1 commentLiz and Bill Spear • March 10 2019 10:56PM
What's My Morrow Ohio Home Worth? February 2019
share
Morrow LITERALLY had a fire sale in February. The lowest priced home sold for $18, 000 and that was due to a fire in the home. Cash buyers only, lots of renovations needed. Couple that with a foreclosure also sold below $100, 000 AND the low… more
What's My Morrow Ohio Home Worth? January 2019
share
January was fairly typical for this time of year in Morrow. Fewer homes completed sale and the number under contract dropped slightly. But again, slow is what we expect until the weather starts to warm. Stick with us for further details. We're… more
What's My Morrow Ohio Home Worth? December 2018
share
This month is a clear example of numbers without context can tell the wrong story. At a glance you might think Morrow Ohio's home sales crashed hard in December, but take a look at the whole story and you'll see that's not the case. Stick with us… more
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 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 Morrow Ohio Home Worth? September 2018
share
The Morrow Ohio real estate market appears to be entering the annual slow down. 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… more
What's My Morrow Ohio Home Worth? August 2018
share
The Morrow Ohio real estate market continues to perform well. Stick with us for more 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… more
What's My Morrow Ohio Home Worth? July 2018
share
Morrow Ohio is still performing well, but the impact of Aberlin Springs sales is skewing the price data. Aberlin Springs accounted for 5 of the top 7 sales prices in July. Stick with us for more details. We're including some easy to use Search… more
What's My Morrow Ohio Home Worth? June 2018
share
The summer is being good to the Morrow Ohio real estate market, with a new total sold high number for the 2010-2018 time period. Stick with us for more details. We're including some easy to use Search Morrow Homes For Sale links at the end! This… more
What's My Morrow Ohio Home Worth? May 2018
share
Another very solid month for Morrow Ohio's real estate market. For the size of the market, very good total sales and prices, and homes are selling quickly. Stick with us for more details. We're including some easy to use Search Morrow Homes For… more