What's My Springboro Ohio Home Worth? October 2015
Sold by The Liz Spear Team of RE/MAX Elite in Springboro's Stone Ridge The Woods
It's getting colder and so are the local real estate markets! But that doesn't mean the news is all bad, it just means different expectations need to be in place. For the near future, sales will continue at a solid pace, but significantly reduced from the summertime peaks! Overall the market is STILL very positive for Springboro.
Stay with us for the full Springboro 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 & 2015 lists, 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: 33 (1 Bank/Government Owned, 0 Short Sale) DOWN 18
Average Price: $226,915 DOWN $35k
Median Price: $219,900 DOWN $40k
Days on Market Average: 103 UP 14
Homes Active 11/9/15: 194 DOWN 9
Homes Pending 11/9/15: 43 UP 9
Average Sales/List %: 97.9 UP .1%
Most Expensive Home Sold: $514,500
Least Expensive Home Sold: $90,000
So what does this all mean? There are some key takeaways:
- First off, don't get scared by the "big" price drops. This month Springboro sales were a bit light on the luxury home sales side, so net result is a slide down the price ladder for the community. It DOESN'T mean Springboro homes have has some catastrophic drop in home values. Compare the orange bar in the median price chart to past Octobers and you'll see it was actually a solid month compared to most October sales.
- As we mentioned at the beginning, sales volume was down in October. That's normal too. Check the sales volume chart and you'll see October was a typical October.
- Pending sales actually increased, and that's a bit unusual for this time of year.
- ONly 2 homes sold below $100k and 2 over $400k. Only 1 home fit the luxury definition of over $500,000.
Time to sell a home increased again, also to be expected for this time of year.
- Distressed properties continue to be scarce, representing 1 of the 33 sold and only 4 of the 194 for sale. If you insist on buying a foreclosure or short sale, you're going to have VERY little to choose from.
- Don't expect huge discounts from asking price. 97.9% sold to list price is a strong indication you can negotiate a little.
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?
STILL No change to previous advice, the edge is still to the sellers IF the home is in good condition and priced appropriately. Combine solid marketing and your home should sell in a reasonable time period, but most likely longer than recent months. Buyers are out there and Springboro is still high demand, with great market stability and distressed properties having almost no impact. Need a real estate team to help put it all together, just give us a call at 513-520-5305.
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?
STILL NO REASON TO CHANGE PAST ADVICE FOR BUYERS:
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. And if it's an in demand neighborhood at an affordable price you'd best act FAST or expect to lose your chance of buying that home to a buyer who was quicker to make a decision.
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.
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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