Springboro Ohio 45066 Real Estate Market Report March 2014
The snow is gone. The flowers blooming. Green leaves are starting to appear. Could it be that winter is finally over and SPRING is here? And has the departure of the cold brought the heat back to the Springboro real estate market? 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.
Country Brook, A Clearcreek Township community with Springboro Schools
So, on to the data!
First up is the number of Springboro single family homes sold on a month by month basis starting in 2010 and carrying forward to present:
Next is the Springboro median price summary chart.
Springboro Single Family Home Summary:
Homes Sold: 31 (1 Bank/Government Owned, 0 Short Sale) UP 8
Average Price: $296,287 UP $15k
Median Price: $264,000 UP $28k
Days on Market Average: 102 DOWN 32
Homes Active 4/6/14: 219 UP 1
Homes Pending 4/6/14: 66 UP 28
Average Sales/List %: 97.6% UP .2%
Most Expensive Home Sold: $570,000
Least Expensive Home Sold: $114,500
So what does this all mean? A VERY solid March for Springboro!! While volume wasn't exactly an all time high for a March, it picked up significantly from February and is within the normal range for past March months. What was really spectacular? The prices! That median price was the third best single month since January 2010 when we started tracking. No homes sold below $100k, and 11 sold above $300k and 2 of those were above $500k. While not exactly a luxury market driving up the prices, fact is there's a heavy concentration of upscale homes being sold in Springboro. And what also helps is the almost total absence of foreclosed/short sale homes. Only 1 of 31 sold were distressed property, and of the 219 for sale, there are only 4 foreclosures and 3 short sales offered. Bottom line, there's no drag downwards by distressed properties in Springboro.
Another great sign is the significant jump in Pending homes. With 66 under contract we'll expect a good April for sales volume.
The percentage of sold to asking price is still very positive. Just enough wiggle room to have both sides feel like "they won" during negotiations.
So what does this mean to you as a Springboro single family home owner? There's absolutely not reason to change our past advice. If your personal circumstances give you a need to move, there's nothing to stand in your way. The market demand will increase as we head into the spring selling season, so why not get the jump on your competition? Based on the homes under contract, it's obvious buyers are out looking in Springboro (we've got a set we're working with now). Make your preparations (we can help identify what to do and what NOT to do). Just give us a call and we can help you assess the market and how your needs and your home fit.
However, if you're in the luxury home category, expect more of an uphill challenge. You're competing against custom home new construction in communities like Country Brook. Combine that with fewer buyers able to afford luxury homes and you realize the market slice is MUCH smaller for you.
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 wait.
So what does this mean to you as a potential Springboro home buyer? Again Status quo. The Springboro market is getting more and more competitive. The longer you wait, the more it's probably going to cost you to own a Springboro home. There's not a ton of bargains to be found, but there are PLENTY of fairly priced homes available. Homes are selling close to asking price, so understand that MOST homes are fairly priced at this point. The hazards of overpricing have been learned by the area sellers (for the most part!!).
Like a Springboro home for sale? Don't delay 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 offers a lot of prime factors to make it home: 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
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