Springboro Ohio 45066 Single Family Home Residential Market Report July 2013
Summer is winding down in the Springboro Ohio real estate market. How did the July Springboro real estate market perform? Hot, cooling or luke warm? Stay with us for the full report and our advice for potential Springboro home sellers and buyers. And if you want to search for Springboro homes for sale, we've got search for Springboro homes for sale links at the bottom of the report.
This report covers 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. Data is derived from the Dayton MLS only, so homes sold without Dayton MLS entry will NOT be included in this review.
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 not 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 per the Ohio Department of Education ratings. 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!
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, 2012 and 2013:
Next is the Springboro median price summary chart.
Springboro Single Family Home Summary:
Homes Sold: 55 (2 Bank/Government Owned, 2 Short Sale) UP 6
Average Price: $254,044 DOWN $4.7k
Median Price: $225,000 DOWN $14.9k
Days on Market Average: 98 DOWN 1
Homes Active 8/8/13: 246 UP 15
Homes Pending 8/8/13: 66 DOWN 33
Average Sales/List %: 97.6% UP .1%
Most Expensive Home Sold: $620,000
Least Expensive Home Sold: $70,000
So what does this all mean? On the positive side, more Springboro homes sold in July than any other single month in 2010-2013. That's fantastic and matching similar performance in Lebanon single family homes and Mason condos. The sellers are getting very close to full asking price, also superb. On the less positive side, home prices did decline vs. June, within normal month to month variation. The median price was still better than most months in 2010-2013. This month 4 homes sold below $100,000 and 3 homes sold above $500,000.
Distressed properties aren't a significant part of the Springboro market, with only 4 included in the 55 sold, and only 10 available out of the 246 Springboro homes not under contract. That's a markedly LOWER percentage than most of Warren County. Springboro continues to demonstrate one of the most stable markets in the area.
We DO expect a drop off in sales for next month due to the big decrease in Pending sales over the last two months. With contracts typically taking close to 45 days to close, it will be tight on the calendar to add more pendings and complete them by end of August.
So what does this mean to you as a Springboro single family home owner? The price decreases aren't significant overall, as your individual home, condition and location are what decide the value buyers are willing to pay. With proper preparation, you CAN influence the demand, and we can provide the marketing to make sure interested buyers know your home is available. There is still a fair amount of competition, in particular plenty of luxury homes still available. We expect the luxury segment of the market to be slow for longer than the lower priced homes. For the most part, that's just common sense. There's a more limited pool of buyers with the financial capability to go upscale.
For an evaluation of your home's marketability, please contact us. And of course your personal circumstances will have impact of the right decision. We'll give you our 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? You've picked one of the best locations to call home, but when you review the stats, you'll see that if you want to be a Springboro homeowner, going low with your offer is probably going to lead to disappointment. Be prepared to pay for the great condition homes in the best developments.
Springboro is a stable/hot market for some solid reasons: great schools, great location, great community. There are quite a few newer homes for sale in communities such as Settlers Walk, and some older subdivisions provide the lower end of the shopping price point. New construction is also available in some communities. If you find a home you love, ACT immediately or some other buyer may take it first. Want to search Springboro Homes For Sale? Use these Cincinnati MLS links for a partial snapshot. For a COMPLETE overview of both Cincinnati and Dayton MLS homes, contact us and we'll provide a full list for your convenience.
Search Springboro Ohio 45066 Homes For Sale Under $200,000
Search Springboro Ohio 45066 Homes For Sale $200,000 to $400,000
Search Springboro Ohio 45066 Homes For Sale $400,000 and Up
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 get your Springboro home before prices climb higher?
Serving Springboro's home buyers and sellers,
Liz and Bill aka BLiz
June 2013 Springboro Real Estate Market Report
May 2013 Springboro Real Estate Market Report
April 2013 Springboro Real Estate Market Report
March 2013 Springboro Real Estate Market Report
February 2013 Springboro Real Estate Market Report
January 2013 Springboro Real Estate Market Report
December 2012 Springboro Real Estate Market Report
November 2012 Springboro Real Estate Market Report
October 2012 Springboro Real Estate Market Report
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