Tomorrow is Groundhog Day and considering the cold and snow over the last couple of weeks I suspect I know what everyone is hoping for!
As far as Warren County's real estate market, it's performing as expected for the time of year. Yes, that means SLOWER. Fewer homes sold, fewer under contract and a little more time to get under contract. All normal events for this time of year. There's no reason NOT to expect the usual Spring market to develop as the weather warms.
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 2/1/2019: 623 (UP 20 from 603 1/12/19)
Number of Homes Under Contract (Pending) 2/1/19: 266 (DOWN 64 from 330 1/2/19)
Number of Homes SOLD in January: 152 vs 202 last month (as of January 2) DOWN 50
Average Sales Price: $268,009 vs. December's $268,866
Average Cumulative Days on Market for SOLD homes: 68 vs 56 in December
Median Sales Price: $214,000 vs. December's $226,000
Median Cumulative Days on Market for SOLD homes: 31 vs. 29
Minimum Price Sold: $28,500
Maximum Price Sold: $1,900,000
What are the key takeaways?
- It's pretty clear we're in the slower part of the year. Homes not under contract actually increased slightly and the number of homes under contract and sold dropped significantly.
- The good news? Prices were stable. Average price was almost exactly the same and median price didn't drop that far.
- Time to sell increased in bit, but that's to be expected.
- 11 homes sold in the luxury category ($500,000 or more). 3 of those 11 sold for more than $1,000,000.
New construction entered in MLS and sold was 14 homes, and those are just the ones reported in Cincinnati MLS. Made to order homes are often not reported. New construction accounts for 202 of the 623 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 152 sold homes. Currently the 623 homes for sale include 5 foreclosed homes and 2 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
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