We've entered the last month of the calendar year. All the flowers have finished blooming, we've had some hard frosts and even a little snow. And with all of that comes the typical slow down in the Warren County real estate market. There is no surprise to decreases in homes sold and for sale, but that doesn't mean the market is at ALL STOP. 214 homes sold in November and while not June numbers, it's still a LOT of homes changing ownership.
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 12/1/2018: 706 (DOWN 56 from 762 11/1/18)
Number of Homes Under Contract (Pending) 12/1/18: 322 (DOWN 8 from 330 11/1/18)
Number of Homes SOLD in November: 214 vs 269 last month (as of November 1) DOWN 55
Average Sales Price: $275,582 vs. October's $258,360
Average Cumulative Days on Market for SOLD homes: 53 vs 42 in October
Median Sales Price: $225,500 vs. October's $215,000
Median Cumulative Days on Market for SOLD homes: 20 vs. 12
Minimum Price Sold: $14,000
Maximum Price Sold: $1,400,000
What are the key takeaways?
- Basically the market is performing as expected for this time of year. Fewer houses for sale, fewer sold, a little longer to sell, etc. It's what happens as the weather cools.
- Prices were slightly better than the previous month.
- Time to sell is still fairly short, but increased from under 2 weeks to under 3 weeks for half the homes under contract.
- 20 homes sold in the luxury category ($500,000 or more), almost 10% of the total homes sold. Only one home sold for more than $1,000,000.
New construction entered in MLS and sold was 21 homes, and those are just the ones reported in Cincinnati MLS. Made to order homes are often not reported. New construction accounts for 177 of the 706 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 214 sold homes. Currently the 706 homes for sale include 6 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
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