Sold by The Liz Spear Team of RE/MAX Elite in Springboro's Stone Ridge The Woods
Springboro's real estate market closed out VERY strong wrapping up 2019 with great prices and a far larger than typical for completed sales. Time to sell is not too fast and not too slow, but what is down is the number of homes for sale.
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!
We just sold this home in less than 1/2 of the median time for Springboro!
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.
Stone Ridge, A Clearcreek Township community with Springboro Schools
So, on to the review!
First up is the number of Springboro single family homes sold on a month by month basis starting in 2013 and carrying forward to present:
Next is the Springboro median price summary chart.
Springboro Single Family Home Summary:
Homes Active 1/31/2020: 54 UP 1
Homes Pending 1/31/2020: 18 DOWN 7
Homes Active/Pending 1/31/2020: 20 (FLAT) more that have a contingency in place e.g. a home to sell, inspections still to be performed, etc.
Homes Sold: 60 (1 Bank/Government Owned, 0 Short Sale, 3 New Construction) UP 21
Average Price: $392,694 UP $46k
Median Price: $324,900 UP $45k
Days on Market Average: 74 DOWN 2 (Median DOM 60)
Average Sales/List %: 95.9 DOWN 2.8%
Most Expensive Home Sold: $2,000,000
Least Expensive Home Sold: $132,000
So what does this all mean? There are some key takeaways:
- Springboro closed out the year in a BIG way, with completed sales close to peak summer months. November was a little on the light side compared to normal, so it would appear some of those sales slid into December. The Pending numbers are low, so we wouldn't expect those big numbers to repeat until we get closer to peak selling season later this year.
- Prices increased with some help from a $2,000,0000 sale. That's a HUGE sale (lots of acres with the home), and may be in the running for highest residential sale price in Warren County for 2019.
- No real change in the one stat that still concerns us. There's just not enough homes for sale to meet buyer needs. Lots of homes in the higher priced range, not so much in the first time homebuyer or first bump up category.
- Time to sell increased remained close to the same, about 2 months from on market to contract for the homes that sold.
- A further drop in total homes under contract (18 + 20=38)
- New construction accounts 3 of the 60 homes sold.
- 10 of the 60 sales were $500,000 or greater.
- Distressed properties are still rare, accounting for one of the homes for sale and none of the homes sold.
- The asking price to sold price percentage dropped signifiantly, but a lot of that change is accounted for my the $2,000,000 sale was $300,000 less than asking. That's close to a percent off influence on the other 59 homes sold.
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?
Not much reason to change from last month. The scarce inventory works to your advantage but we're in the slowest time of the year. What doesn't change? The need to be priced right coupled with solid marketing so the maximum buyer pool has visibility to your home. 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?
NO CHANGE FOR OUR BUYER ADVICE. Springboro is a desirable place to call home, so that means you'll have competition of the best homes.
As a buyer, you need to watch the market closely and already have your financial ducks in a row so you can act quickly when the right home is available.
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.
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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