Warren County Ohio Real Estate News and Observations: Warren County Ohio Real Estate Market Snapshot August 1 2018

Warren County Ohio Real Estate Market Snapshot August 1 2018

Can you  believe July went by so quickly?  Back to school sales are starting and before we know it the yellow buses will be everywhere again.  We're entering the time of yWarren County Ohio real estate snapshotear where there's still plenty of homes to be bought and sold, but the pace will typically start to slow a bit.   

What do the stats have to tell us about the Warren County Ohio real estate market?  

Stick with us for a quick overview of this month's stats and 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 8/1/2018:  778 (UP  48 from 730 7/1/18)

Number of Homes Under Contract (Pending) 8/1/18: 437 (DOWN 90 from 527 7/1/18)

Number of Homes SOLD in June: 341 vs 338 last month (as of  August 1 UP 3)

Average Sales Price: $292,054 vs. June's $290,891

Average Cumulative Days on Market for SOLD homes:  46 vs 36 in June

Median Sales Price:  $240,000 vs. June's $248,250

Median Cumulative Days on Market for SOLD homes: 12 vs. 8

Minimum Price Sold:  $70,214

Maximum Price Sold:  $1,565,000

What are the key takeaways? 

  • Prices stayed essentially the same month to month.  The key differences?  Note the number of homes for sale increased, the number of homes under contract decreased, and the time to sell increased.  In other words, the expected seasonal slowdown is starting. 
  • Time to sell is still fast, with less than 2 weeks from market to contract for half the homes under contract.   
  •  36 homes sold in the luxury category ($500,000 or more)
  • New construction entered in MLS and sold was 24 homes, and those are just the ones reported in Cincinnati MLS.  Made to order homes are often not reported.  New construction accounts for 200 of the 730 homes listed in MLS and NOT under contract.
  • Distressed (short sales and foreclosures) continued to be minimal this month with 3 foreclosures and 2 short sales in the 341 sold homes.  Currently the 778 homes for sale include 5 foreclosed homes and 1 short sale. 

Cherry Brook of Mason Ohio

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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!

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

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Comment balloon 1 commentLiz and Bill Spear • August 01 2018 10:31PM

Comments

Appreciate the insight from a local expert. Thank you for sharing!

Posted by Jeremy K. Frost, Associate Broker, CNE, CRS, ePro, PSA (Keller Williams Realty) 4 months ago

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