Home sales in Butler County and throughout the region are holding steady through the first half of the year.
Butler County has seen 2,490 sales so far in 2017, compared to a nearly identical amount — 2,489 — in the first half of 2016. The average home sold in Butler County for $179,406 in the first half of 2017, up from an average of $175,417 in the first half of 2016.
“(Home sales) have been stable and the pricing is upward bound … and that’s been a trend that’s been taking place for the past several years,” said David Welch, president of the Cincinnati Area Board of Realtors. “Even though we have 50 percent less inventory than we did in 2005, we’re still creating the same numbers in terms of sales and those numbers are generating higher average pricing, which for any home seller should be fantastic.”
While home sales number and average sale prices are “very robust” and any increase in the amount of inventory on the market might curtail a rise in sales price, Welch said.
Welch said 2017 home sales are keeping pace and exceeding 2016 home sales, which were the region’s second-best year ever.
Day on market also dropped, with Butler County homes on the market for 30 days through the first half of this year compared to 38 days in the first half of 2016.
Warren and Hamilton counties have also seen a steady performance in home sales.
Warren County has sold 1,669 homes in the first half of this year, 29 more than the same period in 2016, with Hamilton County selling 5,797 homes, 123 more than in 2016.
Only Clermont County dipped in sale in the first half of 2017, going from 1,509 homes sold in the first half of 2016 to 1,437 in the first half of 2017.
The amount of days on market dropped 11 days in Hamilton County to 28 days; six days in Warren County to 36 days; and 17 days in Clermont County to 24 days.
So what’s the forecast for the remainder of 2017?
“I would say steady as she goes with the normal seasonal adjustments, like for August, when typically we have less sales and following the trend-line that we’ve seen in the past several years,” Welch said. “It’s still an upward trend because of the demand on homes and the lack of supply and we’re seeing more building starting to take place, especially in the area of Mason and West Chester and the outlying area.”