Lebanon Ohio 45036 Single Family Home Residential Market Report January 2012 Update

Real Estate Agent with RE/MAX Elite 513.520.5305 www.LizTour.com SAL.2002007747

404 Silverwood Farms Lebanon OH 45036Lebanon Ohio 45036 Single Family Home Residential Market Report January 2012 Update

The Lebanon Ohio residential real estate market has shown good stability through 2011.  While not really appreciating in value, at least prices have been stable.  So how did the Lebanon area perform for January?  We'll answer that question and more by expanding on our 2010 & 2011 Lebanon residential real estate market report.

All data is derived from the Cincinnati MLS system.  If any homes traded hands without a REALTOR® involved, then it won't be reflected in this report.  All data is for the Lebanon school district, so data is not limited solely to Lebanon city limits. 

509 Lake Front Drive Lebanon OH 45036  Home for saleWith Lebanon being named one of Ohio's 5 best Hometowns by Ohio Magazine for 2012, there's a lot to draw residents to Lebanon!  A fantastic historic downtown that is a frequent host to some great festivals, great schools and easy access to dining and shopping.  And with it's central Warren County location, and SR63, SR48, I71 and I75 providing access, you've got easy commuting capability to either Cincinnati or Dayton!  And don't forget Countryside YMCA, the world's LARGEST YMCA! 

Lebanon offers more affordable housing than the neighboring Mason at a full range of price points: from entry level older homes, to medium priced communities to luxury homes.

So, on to the data!
First up is the number of single family homes sold on a month by month basis for 2010, 2011 and now starting with 2012:
Lebanon Ohio Residential Home Market Report
Next is the median price summary chart.

Lebanon Single Family Home Market Report
So what is the data telling us?  At first glance you might think the news is pretty bad.  ONLY 10 homes sold in January?  That's only about HALF of the previous two Januarys!!  But what the chart doesn't show you is there are 44 homes pending!  That's right, 44 homes under contract, waiting to close!  Now a fair number of these may be in the waiting mode because someone else has to sell their home first, so don't expect to see all 44 homes closed on our next Lebanon market report.  Sometimes that wait can be months!

And what is the data on median price telling us?  Well that doesn't look great either, but with only 10 data points the price is easily moved.  Homes sold from $12,000 to $359,900.  In this case, there were two foreclosure type sales BELOW $25,000.  Now those aren't typical selling prices for the Lebanon area, and if you saw those two homes you'd understand why they were practically given away!  We expect to see more typical home prices in the coming months.   

So what does this mean to you as a 479 Lookout Ridge Lebanon OH 45036 for saleLebanon single family home owner?  Foreclosed/short sale single family homes are having an impact.  If they're in decent condition, they ARE competition for you.  DO NOT expect a quick sale unless you've got a unique home with a VERY aggressive price.  If you live in one of Lebanon's abundant subdivisions, you have significant competition.  For an evaluation of your home's marketability, please contact us.  

So what does this mean to you as a potential Lebanon home buyer?  There is a LOT of inventory to pick from!  206 Lebanon homes for sale in Cincinnati MLS ranging in price from $20,000 to $1.45 MILLION dollars.  There is a match for whatever price point suits your budget. There are some foreclosed/short sale home available on the market, but they're not always the best bargain depending on your need to have a new home and how much cash flow you have for repairs after closing.  With a stable market, and fantastic interest rates, you don't have to rush and buy just ANY home, but FOR NOW it would appear you can take a more leisurely approach to finding the right home.  However, once you've identified it, DON'T delay in taking action!  If it appeals to you it may very well appeal to someone else!  If you're interested in buying a Lebanon area home, please contact us with your needs and we'll help you find the right Lebanon community for you!

Serving Lebanon's home buyers and sellers,
Liz and Bill aka BLiz

P.S.  Like any of the three homes pictured?  They're all Liz Spear Team of RE/MAX Elite listings.  Click the picture to go to their webpages for more information!

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Serving Warren County Ohio & Adjacent Areas

The Liz Spear Team of RE/MAX Elite
Elizabeth Spear, ABR, CRS, Ohio License SAL.2002007747

William (Bill) Spear, CRS, Ohio License SAL.2004011109  Kentucky 77938
Ask for us by name if you visit the office!

EHO Two locations: Lebanon & Mason, OH
Bill Direct:  513-520-5305
Liz Direct: 513-265-3004     
Fax: 866-302-8418

MailTo:  LizSpear@Go-Concepts.com

Search Homes:  Http://WarrenCountyOhioRealEstate.com

Our Website:  www.LizTour.com

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Jake Conklin
The Conklin Team - Meridian, ID

Very informative.  

Feb 09, 2012 04:52 AM #1
Anita Clark
ColdwellBanker SSK Realtors ~ 478.960.8055 - Warner Robins, GA
Realtor - Homes for Sale in Warner Robins GA

BLiz: Easy to read and understand charts backed up by excellent information...another informative market report from The Liz Spear Team!

Feb 09, 2012 05:01 AM #2
John McCormack
Albuquerque Homes Realty * www.AlbuquerqueHomes.com - Albuquerque, NM
AlbuquerqueHomes.com, Albuquerque Homes Realty

With Lebanon being named one of Ohio's 5 best Hometowns by Ohio Magazine for 2012 one can easily see why it would be the place to live!  Great market report by the The Liz Spear Team.  You guys rock!

Feb 09, 2012 05:13 AM #3
Liz and Bill Spear
RE/MAX Elite 513.520.5305 www.LizTour.com - Mason, OH
RE/MAX Elite Warren County OH (Cincinnati/Dayton)

Jake, Thanks!  We try to provide the critical info for sellers and buyers to help decide what path to take.

Anita, We're getting the into a format we can be comfortable with each month for our updates.  Right now we have a standing four reports to repeat, and others we'll do more sporadically since activity is lower.

John, For that all-American, small town quality of life it's hard to beat Lebanon in our market area :)  A great mix of old and new.

Feb 09, 2012 05:14 AM #4
Jackie Connelly-Fornuff
Douglas Elliman Real Estate in Babylon NY - Babylon, NY
"Moving at The Speed of YOU!"

Hi Bliz, love your market reports. So easy to understand even "outsiders" can get it.

Feb 09, 2012 10:49 AM #5
Liz and Bill Spear
RE/MAX Elite 513.520.5305 www.LizTour.com - Mason, OH
RE/MAX Elite Warren County OH (Cincinnati/Dayton)

Jackie, We try to keep it clear and make sure we get the story behind the numbers out there (e.g. the 44 Pending homes).  Full picture for our area buyers and sellers should make their decision power better :)

Feb 09, 2012 10:53 AM #6
Kay Van Kampen
RE/MAX Broker, RE/MAX Solutions - Springfield, MO
Realtor®, Springfield Mo Real Estate

Great report.  You detailed the market to show it's not as bad as it appears.  Hope the market keeps improving.  Personally, I think it's going to be a great year.

Feb 09, 2012 02:23 PM #7
Liz and Bill Spear
RE/MAX Elite 513.520.5305 www.LizTour.com - Mason, OH
RE/MAX Elite Warren County OH (Cincinnati/Dayton)

Kay, There's definitely some silver lining in what appears to be bad news.  We're expecting 2012 to be a great year also!

Feb 09, 2012 03:30 PM #8
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