Happy New Year! 2019 is here and if there was any doubt (there shouldn't have been) that we're in the typical Winter slowdown, this months stats really bear it out. MUCH fewer homes on the market today than a month ago (lots of sellers probably took a break for the holidays or their listing contracts ended New Year's Eve and they're not back on the market YET). The number of homes under contract increased slightly and the number of homes sold dropped slightly. Prices were stable.
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 1/2/2019: 603 (DOWN 103 from 706 12/1/18)
Number of Homes Under Contract (Pending) 1/2/19: 330 (UP 8 from 322 12/1/18)
Number of Homes SOLD in October: 202 vs 214 last month (as of December 1) DOWN 12
Average Sales Price: $268,866 vs. November's $275,582
Average Cumulative Days on Market for SOLD homes: 56 vs 53 in November
Median Sales Price: $226,000 vs. November's $225,500
Median Cumulative Days on Market for SOLD homes: 29 vs. 20
Minimum Price Sold: $29,000
Maximum Price Sold: $1,550,000
What are the key takeaways?
- As we mentioned at the beginning, significantly fewer homes on the market today than December 1. Expect the usual, sellers taking a holiday break. Most will be back soon, or no later than the Spring market rush.
- Median price was almost the same as the previous month.
- Time to sell increased, and that's typical for the time of year.
- 17 homes sold in the luxury category ($500,000 or more). Only one home sold for more than $1,000,000.
New construction entered in MLS and sold was 22 homes, and those are just the ones reported in Cincinnati MLS. Made to order homes are often not reported. New construction accounts for 191 of the 603 homes listed in MLS and NOT under contract. The number of new homes available increased from previous months.
- Distressed (short sales and foreclosures) continued to be minimal this month with 2 foreclosures and 0 short sales in the 202 sold homes. Currently the 603 homes for sale include 4 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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Two locations: Lebanon & Mason, OH
Bill Direct: 513-520-5305
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