Springboro Ohio 45066 Single Family Home Residential Market Report August 2012
Welcome to our inaugural Springboro Ohio single family home market report. This will be a monthly review of the Springboro Community School district single family homes (so portions of surrounding townships will be included e.g. Clearcreek & Turtlecreek). This report will only cover single family homes and not include condominium data.
The Springboro area is popular, especially with residents seeking to commute into Dayton (easy access with I75 and SR741), and even works well for those night minding a bit longer commute south to the Cincinnati area. Springboro is a good choice for couples where one works in Dayton and the other in Cincinnati.
Springboro Community Schools are among the state's best public schools. Additionally Springboro was selected #42 in U.S. in 2011 by Money magazine for Best Small Cities To Live. Area residents have known for some time Springboro is a great place to live, so nice to see the same recognition nationally!
All data is derived from the Dayton MLS system and involves only Springboro homes sold with REALTOR® involvement and entered in MLS. All data is for the Springboro Community School District area, so is not limited solely to Springboro city limits. Keep in mind that some homes may only be listed in the Cincinnati MLS and will not be included in this report. We STRONGLY recommend any Springboro resident selling their home hire a REALTOR(R) with access to BOTH Cincinnati and Dayton MLS.
The Springboro area offers a full range of price points, and features an older historic area, developments of older homes, new subdivisions and rural options. There are also golf course communities, luxury home communities, patio home communities....basically there's something for every home buyer's taste and budget.
So, on to the data!
First up is the number of Springboro single family homes sold on a month by month basis for 2010, 2011 and 2012:
Next is the Springboro median price summary chart.
Springboro Single Family Home Category Data Summary:
Homes Sold: 30 (4 Bank/Government Owned, 1 Short Sale)
Average Price: $249,099 
Median Price: $224,250
Days on Market Average: 116
Homes Active 9/8/12: 205
Homes Pending 9/8/12: 55
Average Sales/List %: 96.5%
Most Expensive Home Sold: $499,900
Least Expensive Home Sold: $70,000
So what does this all mean? Overall, the Springboro single family home market segment continues to be stable. While median prices are relatively flat over the last few months, the overall price point is higher than most of Warren County communities. The drop in quantity of homes sold is consistent with past seasonal history with an expected decline as school starts back up. Average sales/list price % is a positive as it demonstrates homes selling are accurately priced. Days on market for the homes sold is not short and has plenty of room for improvement.
In particular, great condition homes either side of $200k continue to be in high demand, particularly for first time home buyers. Our experience has been homes in that niche WILL get plenty of activity.
The proportion of distressed properties (bank/government owned and short sales) is negligible. Short sales can involve a tremendous amount of waiting for the buyers.
So what does this mean to you as a Springboro single family home owner? There is adequate competition that a Springboro home seller needs to accurately price and hire a REALTOR(R) with the marketing ability to get maximum exposure for their home. Springboro homes for sale are not happening fast, so patience is advocated.
Luxury home sales are still slower than the remainder of the Springboro single family home market.
For an evaluation of your home's marketability, please contact us. And of course your personal circumstances will have impact. We'll give you the best advice, whether to start now, or hold off until next year.
So what does this mean to you as a potential Springboro home buyer? Prices seems to be neither rising or falling. Depending on your price point there may not be a wide selection of homes available. However, if you find a home you love, ACT immediately or some other buyer may take it first.
When you're interested in buying a Springboro home, please contact us with your needs and we'll help you find the right Springboro community for you! Why not take advantage of the extremely low interest rates and affordable homes?
Serving Springboro's home buyers and sellers,
Liz and Bill aka BLiz
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