Reed Spencer | Realtor, RE/MAX Victory + Affiliates

Reed Spencer is a licensed real estate agent with RE/MAX Victory + Affiliates in Troy, and a member of Dayton REALTORS®.

Recent Sales Activity

Over the past 12 months, MLS records show Reed on 15 closed sales (10 as the listing agent, 5 representing the buyer), about $4,562,800 in total sales volume. Most active in Troy, Tipp City, Jamestown Vlg, Miamisburg and Xenia.

Overview

Reed Spencer is a real estate associate with RE/MAX Victory + Affiliates, working from the brokerage’s office at 24 N Market St in Troy. Over the past 12 months he closed 15 sales totaling $4,562,800 in volume, an average of roughly $304,000 per transaction. His business is rooted in Miami County, with Troy and Tipp City each accounting for five of those sales, and it also reaches into Montgomery and Greene counties.

Two features of the past year stand out. First, the work leans toward representing sellers: 10 of the 15 sales were listing-side and five were buyer-side. Second, renovated homes make up a large share of his closings, at 60 percent.

His price range is wide. Sales closed from $105,000 at the low end to $479,000 at the high end, with a median of $299,900. That spread covers entry-level homes in Troy as well as higher-priced properties in Jamestown and Miamisburg, and it suggests a practice that is not confined to a single price tier.

The Sales Record in Numbers

Fifteen closed sales in a year, split between 10 listings and five buyer-side transactions, gives a clear picture of how he works. Roughly two of every three closings came from homes he listed himself. Listing work involves pricing, preparing and marketing a property, and the figures on those 10 listings show how that work played out in the market.

The median time on the market for his listings was 44.5 days. Those homes sold for a median of 96.5 percent of their list price, which means that a typical listing closed within a few points of the asking figure. Three of the 10 listings sold at or above asking. The remaining seven closed below it, and the 96.5 percent median indicates those gaps were generally modest.

The property mix is worth noting. None of his sales this year were new construction, and none were multifamily. Instead, 60 percent were renovated homes, which works out to nine of the 15 closings. That points to a business built on existing houses, many of them updated, rather than on builder inventory or investor-oriented duplexes and small apartment buildings.

Neither the City of Dayton nor West Dayton shows up in his closed sales for this period; both counts are zero. His activity is concentrated in the communities north, south and east of the urban core, which the next section describes.

Where He Works

Sales by area for the past 12 months break down as follows: Troy, 5; Tipp City, 5; Jamestown Village, 2; Miamisburg, 2; Xenia, 1. Troy and Tipp City together account for two-thirds of his closings, which fits with a Troy office and a long association with downtown Tipp City.

Troy. His five Troy sales had a median price of $162,000, against an area median of $299,900. That puts his Troy work well toward the accessible end of the local market, with the lowest-priced sale in his portfolio, at $105,000, likely among them. For anyone tracking how many homes in Troy sell below the citywide midpoint, his closings are a useful reminder that a good share of activity happens there.

Tipp City. In Tipp City his five sales had a median of $350,000, close to the area median of $360,000. In other words, his Tipp City business tracks the middle of that market almost exactly. Tipp City is also where he has been involved in civic life, as described below.

Jamestown Village. Two sales here had a median price of $479,000, compared with an area median of $235,000. That figure matches the top of his overall price range, so these were the highest-priced closings in his year, at roughly double the area’s typical price. With only two sales, the comparison is a snapshot, not a trend, but it shows he handles properties at the upper end of a local market.

Miamisburg. His two Miamisburg sales had a median of $397,950, against an area median of $274,900. As in Jamestown, he worked above the local midpoint.

Xenia. One sale closed in Xenia at $299,900, compared with an area median of $250,000.

His RE/MAX profile also lists Beavercreek, Huber Heights, Troy, Tipp City and Vandalia as service areas. Those communities did not appear among his closed sales this past year, but they indicate the broader territory he says he covers around his home base.

Specialties and Background

His RE/MAX profile lists a long set of specialties: buyer brokerage, development land, relocation, short sales, new construction, historic property, condominiums, agricultural and farm living, property management, rentals and investment. A separate RE/MAX profile for his Troy office adds foreclosure, luxury homes, residential acreages and retail to the list. English is the language listed. The past year’s sales were residential and weighted toward renovated homes, so the specialty list reflects the range of work he is set up to take on, more than what closed in the last 12 months.

He describes himself as a University of Cincinnati graduate and a longtime Dayton-area resident. In an earlier online profile, he said he has served the Dayton area since 1997. That profile, written when he was with RE/MAX Professionals in Troy, also said he had helped more than 350 families. The brokerage name has since changed to RE/MAX Victory + Affiliates, where he is listed as an associate.

He is listed with the RE/MAX Hall of Fame Award. One profile dates that recognition to 2014; another lists it without a year. No other industry designations are noted in his public profiles.

Community Involvement

Much of what is publicly listed about Spencer outside of transactions is tied to Tipp City. He is named as a charter board member of the Downtown Tipp City Partnership, Inc., an organization focused on the town’s downtown district. He is also listed as a co-founder of the Tippecanoe Farmers’ Market and of the Tippecanoe Canal Jumpers Vintage Base Ball Club, a group that plays baseball by nineteenth-century rules.

The Tipp City Chamber of Commerce directory has also listed him under an earlier RE/MAX Victory office address on West Main Street in Tipp City. That history lines up with his sales: Tipp City is tied with Troy as his busiest market, and his median sale price there of $350,000 sits close to the town’s overall median.

His personal website, reedspencer.com, and his RE/MAX page both direct visitors to his Troy office, where he is listed as an associate.

Reading the Numbers Together

Taken as a whole, the past year shows a small but focused practice. Fifteen closings is a manageable book of business, and the volume of $4,562,800 reflects a mix of price points rather than a single segment. With a median sale of $299,900 and a range running from $105,000 to $479,000, he has worked in both starter-price and upper-middle price brackets.

On the listing side, a median of 44.5 days on the market and a median sale-to-list ratio of 96.5 percent describe homes that sold at a steady pace and close to their asking prices. Three of his 10 listings reached or passed asking price. The renovated share of 60 percent and the absence of new construction and multifamily sales show where his activity concentrated over this period.

Geography ties the picture together. Troy and Tipp City supplied two-thirds of his sales, with Jamestown Village, Miamisburg and Xenia adding smaller but higher-priced transactions. Comparing his median prices with each area’s median shows he worked below the local midpoint in Troy, near it in Tipp City, and above it in the other three communities.

Contact

Office phone: (937) 353-4599
Profile on the RE/MAX Victory + Affiliates website

Sales figures come from Dayton REALTORS® MLS records and are updated monthly. Information deemed reliable but not guaranteed. Is this you? Claim this listing to add your photo, bio and contact details.