The leaves have turned and they're falling fast! That's predictable, and so is the typical slow down in the Warren County real estate market. Inventory increases and the number of contracts slow. Still LOTS of homes to be sold though!
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 11/1/2018: 762 (UP 16 from 746 10/1/18)
Number of Homes Under Contract (Pending) 11/1/18: 330 (DOWN 61 from 391 10/1/18)
Number of Homes SOLD in October: 269 vs 242 last month (as of October 1 UP 27)
Average Sales Price: $258,360 vs. September's $258,710
Average Cumulative Days on Market for SOLD homes: 42 vs 36 in September
Median Sales Price: $215,000 vs. September's $216,000
Median Cumulative Days on Market for SOLD homes: 12 vs. 13
Minimum Price Sold: $26,892
Maximum Price Sold: $1,300,000
What are the key takeaways?
- As expected, the market is a bit slower. The number of homes for sale increased slightly and the number under contract dropped significantly. There aren't as many buyers actively looking, but there are still plenty of homes being sold.
- Prices stayed almost exactly the same month to month.
- Time to sell remained short, staying under 2 weeks from market to contract for half the homes under contract.
- 18 homes sold in the luxury category ($500,000 or more), and 2 sold for more than $1 million.
New construction entered in MLS and sold was 16 homes, and those are just the ones reported in Cincinnati MLS. Made to order homes are often not reported. New construction accounts for 176 of the 762 homes listed in MLS and NOT under contract.
- Distressed (short sales and foreclosures) continued to be minimal this month with 4 foreclosures and 0 short sales in the 269 sold homes. Currently the 762 homes for sale include 5 foreclosed homes and 1 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
Liz Direct: 513-265-3004
Search Homes: Http://WarrenCountyOhioRealEstate.com
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