The Real Estate market in Cedarville, Ohio, has undeniably rebounded from the lows seen in recent years. For the first time, publicly listed home sales in Cedarville exceeded $4 million in 2014, consisting of 30 individual home sales averaging $135,547 per sale. This quantity of home sales in Cedarville is an increase of 31% over the home sales occurring during the prior three years from 2011 to 2013. Of the 30 homes sold in 2014, Sheridan & Associates was involved in 22, or 73%, which illustrates Sheridan & Associates’ expertise in the Cedarville Market. This heightened sales activity does not include the eight building lots sold within The Meadows of Cedarville development since May 2014, on which two homes have been completed and one is under construction.

graph01
In 2014, the average home size for properties sold within the Cedarville area was 1,640 square feet and the average sale price was $135,547 for an average price per square foot of $82.65. The Dayton area average price per square foot is $75.02, which is low compared to most Greene County communities. The chart below lists all 2014 home sales as of mid-November, ranked in order of Price per Square Foot for each community.

Community

Homes Sold

Average Price

Average SqFt

Avg $/SqFt

Yellow Springs 55 $ 207,117

1,769

$ 117.08

Bellbrook 122 $ 193,023

2,096

$ 92.09

Beavercreek 664 $ 197,557

2,218

$ 89.07

Cedarville 30 $ 135,547

1,640

$ 82.65

Xenia 371 $ 144,705

1,799

$ 80.44

Jamestown 63 $ 138,327

1,726

$ 80.14

Greater Dayton Area (All) 11,496 $ 133,762

1,783

$ 75.02

Fairborn 278 $ 99,673

1,478

$ 67.44

According to Matt Sheridan, co-owner of Sheridan & Associates, “The quantity of home sales in the Cedarville area would be higher if more quality homes were available to purchase. The largest demand for homes in the Cedarville market is in the $180,000 to $250,000 price range. Unfortunately, there is a lack of available quality homes to purchase within this price range, which is forcing prospective buyers to consider other neighboring communities. This is evident in the large increase in open enrollment students to Cedar Cliff Local Schools from nearby districts during the last three years.” During the last 10 years, homes within the $180,000 to $250,000 price range in Cedarville have sold within an average of 81 days, compared to 109 days for all other price ranges. This illustrates the demand for homes within this desired price range from $180,000 to $250,000. Sheridan hopes that the introduction of The Meadows of Cedarville development, located on US 42 east of Cedarville, will fill a void that has been lacking in the Cedarville community and will provide a strong inventory of homes available to purchase in the future. [1]

Sheridan & Associates is a real estate, auction and appraisal company specializing in the sale of residential, commercial and agricultural properties throughout Southwest and Central Ohio. Sheridan & Associates has been recognized as selling more land in the Dayton area during the last 10 years than any other office. Details of available real estate and auctions can be viewed at www.SheridanTeam.com.

(Article provided by Matt Sheridan, Partner with Sheridan & Associates © 2014)

 


[1] Statistical information provided in this report was obtained from the Dayton Area Board of Realtors® Multiple Listing Service (MLS).