Springboro Ohio 45066 Single Family Home Market Report February 2014
It's been COLD. Snow, snow, more snow, then another snowflake or two just to add insult to injury, right? So has the cold weather put the damper on the Springboro real estate market, or are we experiencing a typical winter market? Stay with us for the full report and our advice for potential Springboro home sellers and buyers. And if you want to search for Springboro homes for sale, we've got search for Springboro homes for sale links at the bottom of the report.
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. Area residents have known for some time Springboro is a great place to live, so nice to see the same recognition nationally!
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.
Country Brook, 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: 23 (0 Bank/Government Owned, 2 Short Sale) DOWN 2
Average Price: $281,291 UP $63k
Median Price: $236,000 UP $50.5k
Days on Market Average: 133 UP 42
Homes Active 3/6/14: 218 UP 30
Homes Pending 3/6/14: 38 UP 3
Average Sales/List %: 97.4% UP .7%
Most Expensive Home Sold: $735,000
Least Expensive Home Sold: $125,900
So what does this all mean? First of all, before you starting screaming WOOHOOOO about the prices spiking up, go back to last month's report and you'll find they spiked DOWN just about the same amount! So no, we're not experiencing California style appreciation in Springboro! What we had this month was a typical sales volume month for a February, but what was nice was the concentration of homes at a better price point. Good news unless you're bargain hunting, but ZERO Springboro homes sold BELOW $100k last month and 2 sold ABOVE $500k (so yes, luxury home sales are still SLOW). Foreclosures and short sales didn't play a big role either, with only 2 of 23 sales fitting distressed property description, and only 10 of 218 Springboro homes for sale are currently foreclosed or short sales. VERY good news for the overall stability of the Springboro market!
What else do the stats indicate? March is probably going to be a typical March for sales volume. 38 homes under contract is steady, but not enough to be setting sales volume records for the March. And the percentage of sold to asking price is still very positive. Just enough wiggle room to have both sides feel like "they won" during negotiations.
So what does this mean to you as a Springboro single family home owner? No real change from past advice. If your personal circumstances give you a need to move, there's nothing to stand in your way. The market demand will increase as we head into the spring selling season, so why not get the jump on your competition? Based on the homes under contract, it's obvious buyers are out looking in Springboro (we've got a set we're working with now). Make your preparations (we can help identify what to do and what NOT to do). Just give us a call and we can help you assess the market and how your needs and your home fit.
However, if you're in the luxury home category, expect more of an uphill challenge. You're competing against custom home new construction in communities like Country Brook. 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. 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? Status quo. The longer you wait, the more it's probably going to cost you to own a Springboro home. There's not a ton of bargains to be found, but there are PLENTY of fairly priced homes available. Homes are selling close to asking price, so understand that MOST homes are fairly priced at this point. The hazards of overpricing have been learned by the area sellers (for the most part!!).
Like a Springboro home for sale? Don't delay if you REALLY want it. Lowballing and/or delaying making that offer may lead you to major disappointment. 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 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
REALTORS(S) Serving Warren County Ohio & Adjacent Areas
The Liz Spear Team of RE/MAX Elite
Elizabeth & William Spear
Ask for us by name if you visit the office!
Two locations: Lebanon & Mason, OH
Liz direct: 513-265-3004
Bill direct: 513-520-5305
Our Website: www.LizTour.com
OUR SERVICE AREA:
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