Warren County Ohio Real Estate News and Observations

What's My Springboro Ohio Home Worth? August 2016

What's My Springboro Ohio Home Worth?  August 2016
8102 Hidden Ridge Ct in Stone Ridge The Woods is listed by us!

Sold by The Liz Spear Team of RE/MAX Elite in Springboro's Stone Ridge The Woods

We're heading into the fall season for the Springboro market and the stats would SEEM to indicate a mixed bag.  Some info for the optimists and some for the pessimists out there!  For the pragmatists, the news is STILL good once you understand the story behind the numbers.  Sales are still solid, just a bit missing on the luxury cagegory this month so the prices dropped relative to July. 

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!

555 Heatherwoode Circle

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 The Woods of Springboro Ohio 45066

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:

Springboro Ohio Residential Home Market Report
Next is the Springboro median price summary chart.
Springboro Single Family Home Market Report

 Springboro Single Family Home Summary:

Homes Sold:  68 (2 Bank/Government Owned, 0 Short Sale,  5 New Construction) SAME AS JULY

Average Price:  $288,265 DOWN $15k

Median Price:  $271,450 UP $6.5k

Days on Market Average:  104 UP 13 (Median DOM 75)

Homes Active 9/11/16:  170 DOWN 19

Homes Pending 9/11/16:  48 DOWN 4

Homes Active/Pending 9/11/16:  44 more that have a contingency in place (e.g. a home to sell, inspections still to be performed, etc.)

Average Sales/List %: 97.4 UP .5%

Most Expensive Home Sold:  $930,000

Least Expensive Home Sold:  $100,000

 

So what does this all mean?   There are some key takeaways:

  • August continues the trend of sales numbers being better than 2010-2015 when comparing the same month.  The numbers are still solid, but with Pending dropping a bit, we may not hold 68 for another month.  And that's okay, as we normally do have a dip from August to September. 
  • Luxury homes sales  (above $500,000) slipped from 6 in July to only 3 in August.  Losing those 3 helped push the average prices down a bit.  However, that doesn't mean Springboro homes are worth less, just a mix issue caused the prices to slide. 
  • New construction accounts for 32 of the 170 homes not under contract, still a sizable percentage.
  • Time to sell a home continues to hover around 3 months on average.
  • Distressed properties continue to be scarce, representing 2 of the 68 sold and only 5 of the 170 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.  97.4% sold to list price for August demonstrates some give, but don't expect really low offers to make much headway with sellers.

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?  

NO REASON TO CHANGE PAST 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? 

NO REASON TO CHANGE OUR BUYER 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 stability 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

Search Springboro Ohio 45066 Homes For Sale $200,000 to $400,000 

Search Springboro Ohio 45066 Homes For Sale $400,000 and Up

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:

July 2016 Springboro Ohio Real Estate Market Report

June 2016 Springboro Real Estate Market Report

May 2016 Springboro Real Estate Market Report

April 2016 Springboro Real Estate Market Report

March 2016 Springboro Real Estate Market Report

February 2016 Springboro Real Estate Market Report

January 2016 Springboro Real Estate Market Report

 

Serving Warren County Ohio & Adjacent Areas


The Liz Spear Team of RE/MAX Elite
Elizabeth Spear, ABR, CRS

William (Bill) Spear, CRS
Ask for us by name if you visit the office!

EHO Two locations: Lebanon & Mason, OH
Direct:  513-520-5305
Direct #2: 513-265-3004     
Fax: 866-302-8418

MailTo:  LizSpear@Go-Concepts.com

Search Homes:  Http://WarrenCountyOhioRealEstate.com

Our Website:  www.LizTour.com

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Comment balloon 2 commentsLiz and Bill Spear • September 11 2016 09:49AM
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