Warren County Ohio Real Estate News and Observations: Warren County Ohio Real Estate Market Snapshot July 1, 2019

Warren County Ohio Real Estate Market Snapshot July 1, 2019

 Warren County Ohio real estate snapshotThe calendar is either half empty or half full depending on your preferred outlook on life.  So how did Warren County Ohio close out the first half of 2019?  

The Warren County Ohio real estate market is not at full throttle, so the half empty calendar folks may be on the mark. Stick around for a top level overview!

   

  

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 7/1/2019:  685 (UP 33 from 652 6/1/19)

Number of Homes Under Contract (Pending) 7/1/19: 467 (DOWN 31 from 498 6/1/19)

Number of Homes SOLD in June: 307 vs 312 last month (as of  June 1) DOWN 5

Average Sales Price: $317,490 vs. May's $282,646

Average Cumulative Days on Market for SOLD homes:  56 vs 45 in May

Median Sales Price:  $270,000 vs. May's $250,000

Median Cumulative Days on Market for SOLD homes: 9 vs. 7

Minimum Price Sold:  $67,000

Maximum Price Sold:  $1,550,000

What are the key takeaways? 

  • My first impression?  We're slower than we should be for this time of year.  Note the number of homes for sale INCREASED, the number under contract DECREASED and the number of homes sold DECREASED.  AND the time to sell SLOWED (not much, but still, it slowed).
  • Those directions are the opposite of what you'd expect for the peak of the selling season.  The one indicator that went in a positive direction was price.  Average and median prices both increased.  Out of the 307 homes sold, 3 sold for more than 1 million and 35 total sold for $500,000 or more (the local definition of luxury market homes).
  • All that said, there's a lot of "hidden" sales going on thanks to new construction.  The majority of those sales are never entered in MLS and don't show up in the stats.  New construction accounted for 31 of the 307 reported (10% of total sales).
  • The other big contributor is the scarcity of resale homes for sale in Warren County.  With 184 of the 685 homes listed for sale as new construction, that leaves 501 resale homes.  That's condos, single family, farms, the whole kit and kaboodle from the cheapest homes to the most expensive homes.  THAT IS NOT ENOUGH.  I've had buyers for months waiting for THE right home to come on the market.
  • Distressed (short sales and foreclosures) accounted for 4 sales this month with 3 foreclosures and 1 short sale in the 307 sold homes.  Currently the 685 homes for sale include 4 foreclosed homes and 3 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:  Https://WarrenCountyOhioRealEstate.com

Our Website:  www.LizTour.com

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Comment balloon 0 commentsLiz and Bill Spear • July 02 2019 02:15AM

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