What's My Lebanon Ohio Home Worth? December 2014 Real Estate Update
It's cold. REALLY cold. But that doesn't mean the Lebanon real estate market has to be cold too! Fact is we're bucking the usual December trends, so stick with us for the full Lebanon real estate market report and Search Lebanon Ohio homes for sale links towards the end.
All data is derived from the Cincinnati MLS system. If any Lebanon single family homes homes traded hands without a REALTOR® involved, then it won't be reflected in this report. All data is for the Lebanon School District area, so is not limited solely to Lebanon city limits.
With Lebanon being named one of Ohio magazine's Top 5 Hometowns for 2012, Lebanon has some strong reasons to call it home! With a HUGE YMCA, ready access to Cincinnati and Dayton, and a cool historic downtown area that is host to an abundance of festivals throughout the year, it's easy to understand why many people pick the Lebanon area over surrounding communities! Furthermore, the cost of living in Lebanon is more affordable than some other Warren County communities. Don't let a few extra miles of driving scare you off from saving big money on your housing costs! Get to know www.GasBuddy.com and save some money on your fuel!
Lebanon offers a full range of price points, from below 100k to some estate homes under a million dollars. There is still new construction available, so you can pick any age from historic to brand new.
Countryside, a pool community of Lebanon Ohio
So on to the review!
Next is the Lebanon median price summary chart.
Lebanon 45036 Single Family Home Category Data Summary:
Homes Sold: 33 (3 Bank/Government Owned, 0 Short Sale) UP 3
Average Price: $204,106 UP $14.5k
Median Price: $180,000 UP $14.5k
Days on Market Average: 65 UP 4
Homes Active 1/7/15: 185 DOWN 8
Homes Pending 1/7/15: 36 DOWN 15
Sales/List %: 97.1% UP 1.6%
Most Expensive Home Sold: $414,000
Least Expensive Home Sold: $28,000
So what are the key takeaways from this month's numbers?
- It was a pretty good December! Sales actually went UP from November, and both quantity of sales and median price were the best December in years! This is NOT what we'd typically expect this time of year. However, the number of homes under contract dropped quite a bit, so expect that January won't hold quite the same sales volume.
- The low end home sales were scarce, with only three homes sold below $100k and 8 total above $300k, and that includes 2 above $400k. Not a bad month at all!
- Time to get under contract increased slightly, but a bit over two months for this time of year is still solid.
- The number of homes for sale continued to drop, but that's normal as some sellers take a break for the cold season.
- Negotiating room is still present, but tightened up from November.
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The distressed homes sales continued to stay minimal, with three foreclosures and no short sales sold in December! Of the 193 homes for sale not under contract, only 18 are foreclosed or short sales.
- No change in the Lebanon luxury market, STILL a tough segment of the market. No homes sold above $500k. The competition from Mason and Springboro make it tough to be a Lebanon luxury home seller.
So what does this mean to you as a Lebanon single family home owner?
It's not scary! While not the busiest time of year, the drop in inventory works in the favor of those willing to brave putting their home on the market during the cold months. There ARE still buyers out looking, just not as busy as the spring and summer months. The usual factors still matter: Solid pricing and strong marketing are critical.
Foreclosures and short sales are still a minimal impact, and you're not going up against significant new construction in MOST communities, but places like Shaker Run and Trails of Shaker Run new construction do challenge your ability to sell.
And if you're not quite ready to enter the market, it's the PERFECT time to meet with us and get your To Do list ready to have your home optimally ready for when you ARE ready to sell your home!
For an evaluation of your specific home's marketability, please contact us 513-265-3004 or 513-520-5305.
So what does this mean to you as a potential Lebanon home buyer?
NOT MUCH REASON TO CHANGE HERE EITHER: Inventory is shrinking and other than a few holdout homes, most sell fairly quickly. Buyers have plenty of competition for the best homes. Don't assume you can "low ball" a seller and walk away with the keys.
The selection of foreclosed/short sale homes is shrinking, and 18 total foreclosed or short sale homes listed as Active in Cincinnati MLS severely limits your choices if that category is ALL you're interested in.
When you're considering buying a Lebanon home, please contact us with your needs and we'll help you find the right community for you! You can use the links below to review Cincinnati MLS homes listed in Lebanon for each of three price bands.
Search Lebanon Ohio 45036 Homes For Sale Under $200,000
Search Lebanon Ohio 45036 Homes For Sale $200,000 to $400,000
Search Lebanon Ohio 45036 Homes For Sale $400,000 and Up
Serving Lebanon's home buyers and sellers,
Liz and Bill aka BLiz
Recent Market Reports:
November 2014 Lebanon Single Family Home Report
October 2014 Lebanon Single Family Home Report
September 2014 Lebanon Single Family Home Report
August 2014 Lebanon Single Family Home Report
July 2014 Lebanon Single Family Home Report
June 2014 Lebanon Single Family Home Market Report
May 2014 Lebanon Single Family Home Market Report
April 2014 Lebanon Single Family Home Market Report
March 2014 Lebanon Single Family Home Market Report
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