What's My Springboro Ohio Home Worth? January 2015
Sold by The Liz Spear Team of RE/MAX Elite in Springboro's Stone Ridge The Woods
The weather has been up and down, but we've been busy and this Thursday we're adding another SOLD to Springboro! This time in Heatherwoode and we know our buyers are going to love the home for years to come!
You might not expect these chilly months to be busy, but we're seeing the best Springboro homes get plenty of activity and some even have multiple offers. We acted fast with our buyers to get our offer in and negotiated in just a few hours to make sure no other buyers got an invite to the dance!
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. Want to know How Much Is My Springboro Home Worth? Just click the link, fill out the form and we'll get back to you shortly!
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.
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: 32 (1 Bank/Government Owned, 1 Short Sale) DOWN 8
Average Price: $243,763 DOWN $8k
Median Price: $222,950 DOWN $17k
Days on Market Average: 116 DOWN 16
Homes Active 2/7/15: 181 UP 11
Homes Pending 2/7/15: 28 DOWN 10
Average Sales/List %: 97.3 UP .7%
Most Expensive Home Sold: $490,000
Least Expensive Home Sold: $87,500
So what does this all mean? There are some key takeaways:
- Sales finally went down after 3 months of up trends, but that was to be expected as the holidays did their usual and buyers (and sellers) were concerned with family activities. However, compare this January to Januarys past and you'll see we had the strongest January since we created the chart in 2010.
- However, not to put a damper on things, but that Pending number at only 28 would indicate February might be more in line with past years for sales quantity.
- Time to sell came back down a bit over 2 weeks overall. The prime homes may still sell VERY quickly. The one our buyers are under contract? Only on the market a few days before our contract was accepted.
- The mix of homes for sale were fairly consistent, only one below $100,000 and only 8 above $300k (including 2 above $400k). That tightening and scarcity of luxury home sales accounts for the small drops in average and median prices.
- Distressed properties continue to be scarce, only 2 of the 32 sold and only 3 of the 181 for sale. If you insist on buying a foreclosure or short sale, you're probably going to be disappointed.
- Don't expect huge discounts from asking price. 97.3% sold to list price is a strong indication you can negotiate a little.
- 181 homes for sale continues to demonstrate low inventory levels.
Bottom line: Springboro CONTINUES to be one of your best choices for buying a home in the Cincinnati/Dayton corridor but act fast for the best of the best homes.
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 buyers to be out in the snow and chill.
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 and almost no foreclosures for sale. That's a good thing because it helps overall price stabilty for homes.
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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