Sold by The Liz Spear Team of RE/MAX Elite in Springboro's Stone Ridge The Woods
COVID-19's biggest impact on the Springboro real estate market might be in causing some sellers to postpone selling their home. The net result is very low choice for buyers, who are still busy acquiring their next home. Jump to the stats review starting with the charts below for more clarity on what we're seeing right now.
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 2014 and carrying forward to present:
Next is the Springboro median price summary chart.
Springboro Single Family Home Summary:
Homes Active 4/25/2020: 49 DOWN 7
Homes Pending 4/25/2020: 59 UP 11
Homes Active/Pending 4/25/2020: 31 (DOWN 7) more that have a contingency in place e.g. a home to sell, inspections still to be performed, etc.
Homes Sold: 41 (0 Bank/Government Owned, 0 Short Sale, 2 New Construction) UP 15
Average Price: $334,582 DOWN $96.5k
Median Price: $324,900 DOWN $75k
Days on Market Average: 66 DOWN 16 (Median DOM 40)
Average Sales/List %: 99.3 UP 5.1%
Most Expensive Home Sold: $722,170
Least Expensive Home Sold: $155,000
So what does this all mean? There are some key takeaways:
- Compared to most recent years, March was a bit on the low side for sold homes.
- Note that homes for sale SHRUNK. The number of homes sold, under contract, and with a contract contingency exceded the number of new homes placed on the market. It's tough to sustain positive momentum when buyers have so little to choose from.
- DO NOT worry about the large price swings down. The previous month there was a HUGE increase, and this month there weren't as many high end sales (no $1.5 million dollar purchase like February), so prices returned to normal. Take a look at the median price chart above and you'll see that March was actually a VERY good month. So best focus on the year to year results rather than month to month results.
- 10 homes sold for $400,000 and 4 sold for $500,000 or more.
- Time to sell decreased in March.
- New construction accounted for 2 of the homes sold in March, and 10 of the 49 homes for sale and not under contract.
- Distressed properties are still rare, accounting for none of the homes for sale and none of the homes sold.
- The sold price to asking price percentage increased this month to 99.3%, so basically expect VERY little give by sellers on price.
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 REASON TO CHANGE: Take COVID-19 into account for any decisions you need to make. The scarce inventory works to your advantage and the number of homes under contract makes that clear. 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
Recent Springboro Reports: