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 of listings.
Currently, there are 322 single family homes and condominiums listed For Sale in the Springboro/Clearcreek Township area. Prices range from $85,000 for a 4 bedroom, 1 bath home built in 1961 on 1.69 acres to $2.5 Million for a 40 acre private estate with a 10,000 square feet home built in 1992 plus a detached garage with private living quarters, a stocked pond, a horse stable, pastures, and more!
The average list price for listed homes is $300,907 with the median price being $250,000.
In October 2009, a total of 38 single family homes and condominiums sold ranging from $45,000 to $586,000. The average sale price for Springboro/Clearcreek Township was $200,214.
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 Springboro/Clearcreek Township area. Prices range from $55,000 for a 2 bedroom, 1 bath bank-owned home built in 1940 on approximately one acre to $1.2 Million for a French Country Manor with 7,200 square feet of living space built in 2007 on 2.4 acres.
The average list price for listed homes is $302,861 with the median price being $259,888.
In July 2009, a total of 55 single family homes and condominiums sold ranging from $114,000 to $685,000. The average sale price for Springboro/Clearcreek Township was $263,632. The average sale price to list price ratio was 95.81%.
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 339 single family homes and condominiums listed For Sale in the Springboro area. Prices range from $59,900 for a 2 bedroom, 1 bath 2 story home built in 1922 to $1.35 Million for a French country manor built in 2007 situated on 2.4 acres with 4 bedrooms, 3 full baths and 2 half-baths.
The average list price for listed homes is $310,239 with the median price being $269,900.
In June 2009, a total of 49 single family homes and condominiums sold ranging from $72,500 to $520,000. The average sale price to list price ratio was 95.45%. The average number of days on the market was 196 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.
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. Beavercreek values are down just 1%, Centerville/Washington Township property prices are down 2% and Englewood is down under 3% for 2008.
For the Springboro and Clearcreek Township area, 23 residential properties sold in October 2008. Prices ranged from $108,000 to $580,000.
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, 25 single family homes sold in Springboro and Clearcreek Township. Purchase prices ranged from $94,250 to $498,000. The average price was $239,660.
In April 2008, 29 single family residential properties sold in Springboro and Clearcreek Township (45066 Zip Code Area). The low price was $121,900 and the high price was $720,000.
Currently (June 25, 2008) there are 413 single family properties listed in Springboro ranging in price from $69,900 for a 2 bedroom 1 bath home built in 1951 on 0.81acre to $1,284,000 for a custom estate on 1.31acres built in 2002. At this time, the average property list price is $323,333 and the medium price is $279,900.
In 2007, the total number of residential sales in Springboro totalled 517. Sale prices ranged from $65,000 to $1.1 Million. The average sale price was $272,676.
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. Average home values are typically lower for the winter months before rising and peaking during the summer.
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!
Springboro is growing daily! The Springboro market is filled with listings giving buyers many choices. This is a community where you can find a new home and still be within commuting distance of WPAFB, Wright State University, and Cincinnati.
A diverse range of single-family homes provide everything from quiet wooded residential lots to majestic golf-course properties. Please visit my website, www.NoraKnowsHomes.com for the Springboro community and school website links.
Springboro, one of the fastest growing communities in Warren County, is located between two major metropolitan areas--Dayton and Cincinnati. From the 1990 Census to the 2000 Census, Springboro doubled in population. According to the 2000 Census, 12,227 people resided in the City of Springboro. Undoubtedly, this number is even higher today. Clearcreek Township which is part of the school district had 8,747 residents according to the 2000 Census. Attractive housing and excellent schools set amid rolling farmland make Springboro the choice of many families coming into the area. The city's master plan controls expansion and preserves the small-town qualities valued by residents. A six-block section of South Main Street has been placed on the National Register of Historic Places.
ZIP Code: 45066 Location Characteristics: The City of Springboro, Ohio was first settled in 1798, incorporated as a village in 1815, and as a city in 1987. It is located off Interstate 75 (exit 38) in northern Warren County, 14 miles south of downtown Dayton and 37 miles north of downtown Cincinnati. Acording to the 2000 census, approximately 12,000 people reside in Springboro.
As an Internet-savvy professional with 13 years experience as a Coldwell Banker Realtor, I've had the opportunity to help many homebuyers find their ideal homes and many sellers obtain top dollar for their homes. Buying or selling a home is one of the largest financial transactions that most people ever undertake, so I will help you through every step of the process. My goal is to make your home buying or selling experience as easy and enjoyable as possible.
My mission: * My top priority is always my clients’ satisfaction. * My job—-to make sure that every transaction I am entrusted with is handled with the utmost care and professionalism. * As my client, you will feel like you are my only client, and my goal is that you are not merely satisfied with my service, but that you enthusiastically refer me to your family and friends.
About me: * 13 years experience as a Coldwell Banker Realtor® * DABR Sales Leader Award, OAR Sales Club Award of Achievement * Member of the Dayton and Cincinnati Boards of Realtors® * Member of Heritage’s Relocation “A” Team, Military Certified * Personal experience restoring, remodeling, custom home-building, and condominium ownership * Fulltime Real Estate service, 7 days a week via phone or email * Real Estate Training through Hondros College & Coldwell Banker University; B.S., The Ohio State University, Life Member of the Alumni Association, Member of the Presidents Club * At Home with Diversity® Certified * My company, is locally owned and operated since 1967 and has been Dayton's leading real estate firm for over 30 years * You will have access to Legacy Mortgage for quick & easy loan approval * We partner with Home Service Title for your title insurance needs & a smooth closing on your home purchase * Nationally affiliated with Coldwell Banker, the nation's premier name in real estate with over 105,000 sales associates in more than 3,500 offices
My services include: * Explaining the home buying and selling process thoroughly * Diligently searching for a home that meets your criteria * Pricing your home correctly and implementing a proven marketing plan to sell your home for the most money in the least amount of time * Negotiating on your behalf * Tracking the closing process to ensure a smooth transaction
I welcome the opportunity to answer any questions you might have about buying, selling or current market conditions. Please call or email me any time, and I will be happy to discuss your next steps in the buying or selling process. Visit my website for community, school and more information including maps and even the weather report!
These reports reflect the views and opinions of their authors and are not necessarily the views and opinions of Realty Times.
