What's My Springboro Ohio Home Worth? December 2014 Update
Sold by The Liz Spear Team of RE/MAX Elite in Springboro's Stone Ridge The Woods
It's COLD, but the Springboro real estate market isn't! We've been busy showing homes in the Springboro area and there's competition out there. Recently a home we looked at went multiple offers after months on the market! So instead of the typical winter slowdown we're seeing some heat in this market!
Stay with us for the full report and our advice for potential Springboro home sellers and buyers. And if you want to search 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.
Stone Ridge, 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: 40 (4 Bank/Government Owned, 0 Short Sale) UP 9
Average Price: $251,587 DOWN $8.5k
Median Price: $240,000 UP $.5k
Days on Market Average: 132 UP 12
Homes Active 1/10/15: 170 DOWN 31
Homes Pending 1/10/15: 38 DOWN 4
Average Sales/List %: 96.6 UP .1%
Most Expensive Home Sold: $699,430
Least Expensive Home Sold: $63,500
So what does this all mean? There are some key takeaways:
- Sales were UP for the 3rd straight month! We're doing the opposite of what would normally be expected!
- Sales prices were pretty consistent from November to December.
- Time to sell DID increase. The quickest resale home from on market to under contract? 31 days. The longest time on market? 349 days.
- The mix of homes for sale were fairly consistent, only one below $100,000 and only 3 above $400k. For 40 homes sold, that's a pretty tight band. And the most expensive one? New construction made to order with all the bells and whistles.
- The number of homes under contract is still solid, but probably not enough for January to match December's final sold numbers.
- Distressed properties continue to be scarce. If you come to Springboro with the mindset that you will ONLY buy a foreclosed home, you're not going to be happy with the selection. Out of 170 homes not under contract, there are ONLY 4 foreclosures and 4 short sales available. And of the 40 homes sold in December, four were short sale or foreclosed.
- Don't expect huge discounts from asking price. 96.7% sold to list price is a strong indication you can negotiate a little.
- 170 homes for sale indicates a shortage of inventory if you have specific needs. Typical for this time of year to have sellers pull homes off the market, so expect inventory to build again in 2-3 months.
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? We're continuing with past advice because the base factors influencing the Springboro market have NOT changed. There are fewer buyers looking this time of year, but they're serious. For sure, who goes out in 10 degree weather unless they NEED to?
Springboro is still high demand, great market stability with distressed properties having almost no impact. Price right, market right and your sale will come, you just need to be patient and of course hire the right real estate team to take care of those details (give us a call at 513-520-5305). We do expect the market to continue to be slow over the next couple of months.
If you're a luxury home seller keep in mind you're competing against custom home new construction in communities like Country Brook and Silver Lake. 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 at 513-520-5305. 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?
NO REASON TO CHANGE THIS ADVICE EITHER:
Springboro is a competitive market for the best homes. That 96.7% sold price vs. asking price tells you homes that are selling are still on target with price. Foreclosure bargains? Rare.
Like a Springboro home for sale? 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 at 513-520-5305 or email Liz@Lizspear.com 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
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