Lebanon Ohio 45036 Single Family Home Residential Market Report August 2013
How's the Lebanon Ohio real estate market? How as summer or as cool as the fall weather that is just around the corner? Stay with us for the full Lebanon real estate market report and some Search Lebanon Ohio homes for sales links towards the end!
All data is derived from the Cincinnati MLS system. If any Lebanon 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 the world's largest 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.
Candlewood luxury development of Lebanon Ohio
So on to the review!
First up is the number of Lebanon single family homes sold on a month by month basis for 2010, 2011, 2012 and now 2013:
Next is the Lebanon median price summary chart.
Lebanon 45036 Single Family Home Category Data Summary:
Homes Sold: 49 (8 Bank/Government Owned, 0 Short Sale) DOWN 3
Average Price: $180,798 DOWN $26k
Median Price: $160,000 DOWN $49.5k
Days on Market Average: 78 DOWN 19
Homes Active 9/8/13: 176 DOWN 9
Homes Pending 9/8/13: 76 DOWN 10
Sales/List %: 96.2% DOWN .8%
Most Expensive Home Sold: $490,000
Least Expensive Home Sold: $35,000
So what can we determine from the latest statistics?
Don't be fooled by a month to month comparison, especially in regards to average and median prices. At first glance you might be tempted to go all Chicken Little, but take a step back from the month to month and examine the big picture. If you do that, you'll see the median price this month is consistent with most of the recent months and better than most of the previous years. And while we may have dropped slightly in sales volume from last month, August was still the 2nd best overall month in the last four years! The 8 foreclosures that sold in August did their best to pull down values, but fact is it's better to have them sell and get occupied rather than let them be neglected.
Beyond that, we're seeing the typical downshift in number of homes offered for sale, and the pending stack of homes is still indicating good months remain. Also good to see the days on market declining, so more positive news for the Lebanon real estate market.
The Lebanon luxury ($500,000 or more) real estate market continues to be slow, continuing July's trend of no sales with a month of August also with no sales above $500,000, but that $490k home got close! Bottom line, most luxury home buyers are more attracted to Mason than Lebanon, so expect a slow process to sell your Lebanon luxury home unless your home offers something the buyers can't find in Mason (think horse farms, lots of acreage, etc.).
So what does this mean to you as a Lebanon single family home owner? Overall, we'd say it's a great time to be a Lebanon home seller. After years of feeling "stuck", Lebanon home owners are finding they can finally sell their homes without pain and start the next chapter in their lives. We'll still hear comments about being "too far out", but that's okay. Fact is, the opportunity to be successful is here now. Hire us and cooperate with our advice and we can give you a clear path to success. The key will continue to be PRICE RIGHT, MARKET RIGHT.
Be aware you're competing with some distressed properties AND new construction. And buyers are still quite willing to throw out a low offer and see if it sticks.
For an evaluation of your specific home's marketability, please contact us.
So what does this mean to you as a potential Lebanon home buyer?
You've got competition, more than you've had in years for Lebanon homes. Fact is the affordability and overall attractiveness of the Lebanon area ensure demand. Don't expect to seriously underbid a home and get to call it yours. Sellers know they can wait for a better offer. There is competition for the prime homes.
The selection of foreclosed/short sale homes is also a bit broader than some other sections of the local market, with 23 foreclosed or short sale homes listed as Active in Cincinnati MLS. Lebanon remains an affordable place to buy a home.
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
July 2013 Lebanon Single Family Home Market Report
June 2013 Lebanon Single Family Home Market Report
May 2013 Lebanon Single Family Home Market Report
April 2013 Lebanon Single Family Home Market Report
March 2013 Lebanon Single Family Home Market Report
February 2013 Lebanon Single Family Home Market Report
January 2013 Lebanon Single Family Home Market Report
December 2012 Lebanon Single Family Home Market Report
November 2012 Lebanon Single Family Home Market Report
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