Market Conditions for Beavercreek, Ohio Reported by Nora Moyer Lipps, REALTOR, ABR Updated November 4, 2009.

Current Market Rating: 2 1 2 3 4 5 Buyer's Seller's

Current Price Trend: 3 1 2 3 4 5 Falling Rising

Report for November 2009:
Single-family home sales in the Dayton MLS area for July, August and September 2009 have exceeded the number of sales for the same months in 2008. The average sales price for September was $127,781. The available supply of single-family listings based on September's sales pace stands at 8.6 months. At the same time in 2008, single-family listings was a 10.8 month supply.

Currently, there are 330 single family homes and condominiums listed For Sale in the Beavercreek area. Prices range from $54,900 for a 2 bedroom, 1 bath townhouse condo to $1.395 Million for a chateau estate at the Country Club of the North situated on 1.64 acres with 4 bedrooms, 5 full baths and one half-bath.

The average list price for listed homes is $231,519 with the median price being $188,250.

In October 2009, a total of 51 single family homes and condominiums sold ranging from $87,500 to $549,000. The average sale price for Beavercreek was $188,756.

Report for September 2009:
For the first time since April 2007, home sales in the Dayton Ohio area increased year-over-year for the month of July. The number of homes sold was up 3% compared to July 2008. The average sales price was also up--$139,786. This is the sixth consecutive month of increasing sales prices.

Currently, there are 361 single family homes and condominiums listed For Sale in the Beavercreek area. Prices range from $58,900 for a 2 bedroom, 1 bath townhouse condo to $1.395 Million for a chateau estate at the Country Club of the North situated on 1.64 acres with 4 bedrooms, 5 full baths and one half-bath.

The average list price for listed homes is $240,212 with the median price being $194,900.

In July 2009, a total of 58 single family homes and condominiums sold ranging from $63,900 to $350,000. The average sale price for Beavercreek was $217,125. The average sale price to list price ratio was 94.93%.

TAX CREDIT DEADLINE!
Are you planning to use the tax credit as a first-time homebuyer? You might also be eligible if you have not owned a home for the past 3 years. The deadline for closing on a home is November 30, 2009. This means that you should be in contract to purchase a home by October 10, 2009.

At this time, a credit score of 600 is required to qualify for a mortgage. The minimum down payment is FHA 3.5%. It is possible to use the tax credit as your down payment.

Report for July 2009:
Currently, there are 395 single family homes and condominiums listed For Sale in the Beavercreek area. Prices range from $44,500 for a bank-owned 2 bedroom, 1 bath ranch home to $1.395 Million for a chateau estate at the Country Club of the North situated on 1.64 acres with 4 bedrooms, 5 full baths and one half-bath.

The average list price for listed homes is $240,466 with the median price being $191,900.

In June 2009, a total of 60 single family homes and condominiums sold ranging from $39,900 to $825,000. The average sale price to list price ratio was 96.19%. The average number of days on the market was 114 days.


Report for March 2009:
As stated before, home prices in the Dayton area have fallen but not as much as other areas of the US. Average home prices here declined 7% in 2009 compared to double-digit decreases in other areas.

NOW IS THE TIME TO BUY
Currently, we have a "Buyers' Trifecta" in progress. That is, low home prices, a large inventory of affordable homes, and low interest rates. Add to this the $8,000 First-Time Home Buyer Tax Credit and this time offers an unprecedented opportunity for many buyers.

Buyers must have a 3% downpayment for FHA financing, can use VA financing and roll the funding fee into the loan, or look into using Ohio Bond Fund money. A credit rating of at least 600 is required to obtain a mortgage.

If you are a first-time buyer (or know someone who might be) or have not owned a home in 3 years, and qualify for the income levels, you might be able to use the $8,000 tax credit available until December 1, 2009. Condos do qualify. Please visit my web site, www.NoraKnowsHomes.com and click on the highlighted link $8,000 First-Time Home Buyer Tax Credit in the center of the page.

Report for December 2008:
The Dayton area is feeling the harder economic times in job losses and in the real estate market. Sales in October dropped compared to October 2007 and the average sale price also dropped. Year-to-date sales through October show a 16% decline in number and a 5.6% decline in price. This decline in price is small compared to the double-digit percentage declines in other parts of the country. Some communities in the Dayton area MLS have held very steady.

There's good news for Beavercreek homeowners! Values in your community are down just 1% for 2008. We can be thankful for WPAFB and the stability it gives to the area. In October 2008, 26 residential properties sold ranging in price from $89,000 to $690,000.

At this time, the overall supply of homes in the Dayton MLS is 10.9 months. Of course, this supply varies based on the community and area. Mortgage interest rates have declined recently and another rate decrease is expected soon. For first time buyers, this is an excellent opportunity especially considering the tax incentive of up to $7,500 which is available until April 30, 2009.

Report for October 2008

Summer sales in the Dayton Ohio market remained steady but slightly down for 2007. The inventory of homes listed For Sale is high and shows an overall supply of 10.4 months. The average sale price for January-August 2008 was $129,861, a drop of 5.1% from 2007. Traditionally, sales slow in the autumn season. With the uncertain economic conditions and the upcoming election, many buyers and sellers are choosing to wait on the sidelines. Housing analysts said earlier in the year that we are still one year away from reaching a more balanced market. However, recent events in the stock market and banking industry may prolong any recovery.

Financing will also be slowing sales. There is virtually no zero down financing. Buyers have to have some money for a downpayment and credit ratings are important.

In August 2008, 51 single family homes sold in the Beavercreek area. Prices ranged from $94,000 to $549,000. The average purchase price was $225,868.

Report for June 2008

In April 2008, 41 single family residential properties in Beavercreek sold. They ranged in price from $78,000 to $450,000. Currently 339 properties are listed ranging from a 3bedroom/2 bath bank-owned home priced at $96,000 to a custom-designed home listed for $1,295,000. The average list price is $283,916 and the median list price is $234,900 at this time.

The downward trend in home sale activity that has been seen on a national basis occurred in the Dayton area throughout 2007 and continues into 2008. However, this trend has NOT been accompanied by a DRAMATIC INFLATION and DRASTIC DECLINE in home values in the Greater Dayton area.

When the Market Turns, Will You Be Ready to Buy or Sell?

With the Federal Reserve continuing to look at rate cuts, interest rates for home mortgages could go below 5% for conventional loans. If this happens, the housing market in the Midwest will turn to a more balanced market. Remember, you do not live on the East or West Coasts! Many of the news reports do not apply here. Our housing prices have been stable when compared to the high inflation in those areas. We have seen minor declines in some communities.

Now is the time to prepare. If you have wanted to sell and waited to sell, have your home ready to list.

If you have been casually looking at homes, make sure you are pre-approved and have your finances in order. If your dream home comes onto the market, you will be ready to move!

I can help you with all aspects of the selling and buying experience. Please call or email me for important information.

I look forward to hearing from you!

Demand for real estate in Beavercreek is always strong due to its proximity to WPAFB and its highly-rated school system.

New construction homes are available. Please visit my website www.NoraKnowsHomes.com for a link to the Beavercreek community website and Beavercreek Schools.

The Beavercreek area was originally a hunting ground prized by the Shawnee and Miami Indians. In the late 1700's, European Settlers started arriving in the area, mainly along the shores of the Little Beaver and Big Beaver Creeks. Greene County was formed in the early 1800's with Beavercreek Township as the first county seat. The area began more development in the 1950's with the move of many to suburban living. In 1979, a portion of the township was incorporated and became the city of Beavercreek in February 1980. Beavercreek City includes the areas known as Knollwood, Zimmerman, New Germany, and the village of Alpha. The township includes the area known as Trebein.

Beavercreek is a community where you can live, work, and play. Parks are filled with young and old playing T-ball, softball, and soccer or just enjoying the playground, picnic areas and nature trails. There are three golf courses, one of them a public course. The township contains hundreds of acres of pristine protected wetlands, a nature preserve, canoeing along the Little Miami River and an inter-community bike trail. Beavercreek City Schools have first-rate facilities as well as providing excellent educational opportunities. The shopping and dining opportunities available in Beavercreek are among the best in the Miami Valley Region.



Location Characteristics: Beavercreek Township Ohio in Greene County is in the heart of the Dayton-Cincinnati-Columbus triangle. Beavercreek Township, includes the City of Beavercreek which is the largest city in Greene County. The township consists of more than fifty square miles and contains the best of all worlds. The community is rural, suburban, urban fringe - whatever the atmosphere you most enjoy - you will find it here. You will find historic Alpha with homes from the 1850s to new home sites both large and small. Approximately 42,000 people reside in the Beavercreek area.

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