Warren County Ohio home sales are starting to match the tree leaves: falling. Not much, but the typical annual slowdown is in progress.
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 10/2/2019: 663 (DOWN 35 from 698 9/1/19)
Number of Homes Under Contract (Pending) 10/2/19: 402 (UP 5 from 397 9/1/19)
Number of Homes SOLD in September: 256 vs 321 last month (as of 9/1/19) DOWN 65
Average Sales Price: $316,651 vs. August's $279,304
Average Cumulative Days on Market for SOLD homes: 47 vs 33 in August
Median Sales Price: $261,500 vs. August's $245,000
Median Cumulative Days on Market for SOLD homes: 9 vs. 9
Minimum Price Sold: $28,600
Maximum Price Sold: $1,365.000
What are the key takeaways?
- It's much as you'd expect for this time of year. Fewer homes on the market as sellers are not replacing sold inventory and instead choosing to wait for next year's peak season. Time to sell slowed a bit, not much, but some. The one really positive sign is the Pending homes number actually increased slightly, so expect October sales to at least match September's completed sales.
- On the more positive side, prices bumped up.
- Out of the 256 homes sold, 5 sold for less than $100,000, 28 sold for $500,000 or more (that price is the local threshold for "luxury" homes) and of those 28, 6 sold for more than 1 million (that helps explain the price bumps UP).
- Outside of the MLS information are the hidden new construction homes. Made to order homes are generally NOT entered in Cincinnati MLS. Reported new construction accounted for 22 of the 256 reported.
- The other big contributor is the scarcity of resale homes for sale in Warren County. With 162 of the 663 homes listed for sale as new construction, that leaves 501 resale homes. That's all types of homes and price ranges. Spread that across the county and condos and homes and there's just not a large selection to pick from.
- Distressed (short sales and foreclosures) accounted for 1 sale this month with 1 foreclosure and 0 short sales in the 256 sold homes. Currently the 663 homes for sale include 7 foreclosed homes and 3 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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