“February 2017 home sales were strong and the real estate market is not showing any signs of slowing down,” Welch said in a statement.
Butler County home sales decreased from 315 in February 2016 to 280 in February 2017, a 11.1 percent decline. Average home price rose from $148,381 to $177,154, a 19.4 percent increase.
Warren County home sales dropped slightly from 180 in February 2016 to 168 in February 2017, a nearly 6.7 percent decline. Average home price there rose from $213,094 to $236,928, a nearly 11.2 percent increase.
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Inventory of homes for sale, as of Feb. 28, continued its year-over-year declining trend to 4,815 from 6,520 a year ago, down 26.15 percent.
“The average price of homes set another record this month, Welch said. “Even though interest rates are climbing ever slightly, low inventory along with consumers ready to purchase is the perfect combination for driving prices higher. Homes that are priced right and that are in move-in ready condition are the properties that are selling quickly.”