Springboro Ohio 45066 Real Estate Market Report April 2014
We're well into the Spring season. Green grass and lawn mowers. Flowers blooming, fresh mulch. Thunderstorms. Yes, we've got SPRING!! And has the warming weather heated up 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: 58 (2 Bank/Government Owned, 0 Short Sale) UP 27
Average Price: $262,319 DOWN $34k
Median Price: $220,000 DOWN $44k
Days on Market Average: 110 UP 8
Homes Active 5/8/14: 229 UP 10
Homes Pending 5/8/14: 69 UP 3
Average Sales/List %: 97.3% DOWN .3%
Most Expensive Home Sold: $800,000
Least Expensive Home Sold: $88,000
So what does this all mean? Don't know whether to say WOW or UGGGH??? Seriously, 58 sales, that's the best single month on the chart! But the prices dropped?? Well here's the thing on the prices, LAST MONTH was a GREAT month for prices. Lots of higher priced homes sold so the price shifted up. When you compare April to past Aprils, or even most other months on the chart, you'll see the $220,000 median price is actually right in line with past performance, so no worries!!
The rest of the stats are pretty good news. Days on market didn't shift much, neither did percentage of sold price to list price, the number of pendings increased, and foreclosures and short sales are close to nonexistent!
Price consistency was there, with only one home selling below $100k, and 10 sold above $400k (and two of those above $500k).
Bottom line: Springboro CONTINUES to be one of your best choices for buying a home in the Cincinnati/Dayton corridor.
So what does this mean to you as a Springboro single family home owner? Not much reason to change advice. Springboro homes continue to be in demand! Plenty of them selling, just price right and market right and you'll be packing your moving boxes. And if the market behaves as typical for this time of year, expect market demand will increase over the next month or two as school is closer to ending.
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