Springboro Ohio 45066 Single Family Home Residential Market Report August 2013
How is the Springboro Ohio real estate market? Hot as summer or as cool as the rapidly approaching fall season? 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 and probably would have made the 2013 list, but Money magazine changed the rules to only one town per county and Mason got the nod. 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: 53 (2 Bank/Government Owned, 1 Short Sale) DOWN 2
Average Price: $272,051 UP $18k
Median Price: $245,000 UP $20k
Days on Market Average: 117 UP 19
Homes Active 9/9/13: 229 DOWN 17
Homes Pending 9/8/13: 55 DOWN 11
Average Sales/List %: 96.2% DOWN 1.4%
Most Expensive Home Sold: $852,500
Least Expensive Home Sold: $37,799
So what does this all mean? Another pretty terrific month for the Springboro real estate market. Second best month for sales volume in the last four years. One of the best months in 2012 & 2013 for median price. Only one home sold below $100k and 5 sold for $500k or more! That differential helps tilt the market prices higher. While it took a bit longer on average to sell a home, that's typical when luxury homes sell as they often need longer to sell because of the smaller pool of buyers that can afford to make that purchase.
Distressed properties (foreclosures and short sales) are also a small sliver of the market and not having a negative impact on statistics. Only 3 were included in the 53 sold, and only 10 available out of the 229 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.
Note that the number of homes for sale continues to drop, a reflection of strong sale and the usual decrease as school starts again and some sellers decide to take a break until next spring.
So what does this mean to you as a Springboro single family home owner? Frankly, it's good to be you if you have a good condition home and are willing to work with your real estate agent to prep the home for sale and provide an appealing price. Buyers are obviously out there in larger numbers than the last several years. It's your time to take advantage of the demand! There is still a fair amount of competition, in particular plenty of luxury homes still available and they're also competing against custom home new construction in communities like Country Brook. We expect the luxury segment of the market to be slow for longer than the lower priced homes.
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? Not much has changed with our Springboro buyer's advice. The Springboro market is strong and has been for some time. Like a Springboro home for sale? Don't mess around if you REALLY want it. Lowballing and/or delaying making that offer may lead you to major 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
July 2013 Springboro Real Estate Market Report
June 2013 Springboro Real Estate Market Report
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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
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October 2012 Springboro Real Estate Market Report
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