Lebanon Ohio 45036 Single Family Home Residential Market Report October 2013

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

Lebanon Ohio 45036 Single Family Home Residential Market Report October 2013

Did the Lebanon Ohio real estate market catch a chill as the fall temperatures drop, or outperform expectations?  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. 

 
1714 Greentree Meadows Dr Lebanon OH 45036 home for saleWith 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 of Lebanon Ohio 45036

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:
Lebanon Ohio Residential Home Market Report
Next is the Lebanon median price summary chart.
Lebanon Single Family Home Market Report

Lebanon 45036 Single Family Home Category Data Summary:

Homes Sold:  33   (4 Bank/Government Owned, 1 Short Sale) DOWN 3

Average Price:  $156,863 DOWN $12.5k

Median Price:  $150,000  DOWN $12k

Days on Market Average:  88  UP 10

Homes Active 11/7/13:  171 DOWN 9

Homes Pending 11/7/13: 70  DOWN 5

Sales/List %:  96.15%  DOWN 1.0%

Most Expensive Home Sold:  $300,000

Least Expensive Home Sold:  $48,000

 

So what can we determine from the latest statistics? 

Relative to September, we're negatively trending in most categories, BUT that's not unexpected for this time of year.  Typically once school starts, the Lebanon real estate market tends to slow down.  And the name of the game in October was "bargain hunting".  Note nothing above $300k sold and of the 33 sales 8 of them were below $100k, thus the drag downwards on average and median prices for October.  And the days on market going up?  Fewer buyers and almost the same number of houses for sale translates to increased time to sell.  The number of Pending homes for sale is still VERY solid for this time of year.  Also great to see the number of distressed properties sold drop from 10 to 5 total.  And only 16 of the 171 for sale are foreclosed or short sales, another positive takeaway.  

And this may sound like a broken record, but it's tough to be a Lebanon luxury ($500,000 or more) home seller.  The demand for that segment is in Mason and Springboro, NOT Lebanon.  

Lebanon Ohio homes for sale

So what does this mean to you as a Lebanon single family home owner?  Overall, you can still sell, but expect it to take longer.  Fact is 33 homes sold last month and 70 more are under contract, so buyers ARE out there, just not as many as peak summer months.  You CAN still be successful if you listen to our advice and team up with us to present and price your home right for today's market conditions.  

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? 

Little change to the buyers.  With fewer buyers looking during the "slow" months, you MIGHT be able to get away with gambling and watching a house, but don't count on it.  The same things that appeal to you MAY appeal to someone else and you may miss your chance.  Don't like the price on a home?  Offer anyway, you just might find out you and the seller can get to a point of agreement.  But also don't be surprised if the sellers decide to wait for a better offer.  

The selection of foreclosed/short sale homes has shrunk a bit, and 16 total foreclosed or short sale homes listed as Active in Cincinnati MLS isn't that many to pick from. 

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

 

September 2013 Lebanon Single Family Home Market Report

August 2013 Lebanon Single Family Home Market Report

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

October 2012 Lebanon Single Family Home Market Report

September 2012 Lebanon Single Family Home Market Report

Posted by

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:  Liz@LizSpear.com

Search Homes:  Https://WarrenCountyOhioRealEstate.com

Our Website:  www.LizTour.com

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Lenn Harley
Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate - Leesburg, VA
Real Estate Broker - Virginia & Maryland

Every year I get the same question.  "Lenn, why is it so slow?"

Every year I give the same answer.  "It's the slow season.  Happens every year."

 

Nov 07, 2013 04:54 AM #1
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John Meussner
Mason-McDuffie Mortgage, Conventional Loans, Jumbo Loans, FHA, 203(k), USDA, VA, - Walnut Creek, CA
#MortgageMadeEasy Walnut Creek, CA 484-680-4852

Sounds like Lebanon, OH is a nice little place to call home, thanks for sharing this great market report.  Curious what the worlds largest Y looks like.

Nov 07, 2013 04:55 AM #2
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Liz and Bill Spear
RE/MAX Elite 513.520.5305 www.LizTour.com - Mason, OH
RE/MAX Elite Warren County OH (Cincinnati/Dayton)

Lenn, Exactly!  Here once school starts families don't REALLY want to move unless they need to.  And there will always be some that need to, but the optional folks tend to drop out of the market until later, thus fewer showings and longer time on market.

John,  I'd show you, but I can find EVERY picture on my computer except that one right now!  It's HUGE, especially when you account for the outdoor facilities also.

 

Nov 07, 2013 05:20 AM #3
Rainmaker
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Anita Clark
ColdwellBanker SSK Realtors ~ 478.960.8055 - Warner Robins, GA
Realtor - Homes for Sale in Warner Robins GA

BLiz: Your knowledge of the Lebanon Ohio real estate market is evident by this very thorough report that consumers will get a lot of mileage out of.

Nov 07, 2013 06:26 AM #4
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Liz and Bill Spear
RE/MAX Elite 513.520.5305 www.LizTour.com - Mason, OH
RE/MAX Elite Warren County OH (Cincinnati/Dayton)

Anita, We've learned what to expect out of our local markets, and that translates into being able to give tailored advice to our clients.

Nov 07, 2013 06:29 AM #5
Rainmaker
943,306
Bob Ratliff
Robert Ratliff Realty - San Antonio, TX
"Sold with Bob"

Bliz, I'm starting to see a slight slow down with homes being on the market longer in certain areas of our MLS. Your detailed market report is very impressive. 

Nov 07, 2013 06:31 AM #6
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Wanda Kubat-Nerdin - Wanda Can!
Prado Real Estate South - St. George, UT
So Utah Residential, Referral & Relocation REALTOR

Knowing the markets ebbs and flows helps to plan accordingly Bliz. You sure do have some amazing archtecture in your area!

Nov 07, 2013 08:21 AM #7
Rainmaker
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Beth Atalay
Cam Realty and Property Management - Clermont, FL
Cam Realty of Clermont FL

Bliz, you have covered just about everything a potential buyer may ask about Lebanon OH. Your knowledge of local real estate market and the way you present it is commendable.

Nov 07, 2013 12:21 PM #8
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Liz and Bill Spear
RE/MAX Elite 513.520.5305 www.LizTour.com - Mason, OH
RE/MAX Elite Warren County OH (Cincinnati/Dayton)

Bob, Thanks!  It's the slow time of year, but at least it's no surprise!

Wanda, There's quite a bit of variety.  The homes pictured represent three different subdivisions.

Beth, Thanks!  We try to provide as much useful information as possible.

Nov 07, 2013 12:45 PM #9
Rainmaker
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Jon Kolsky
Kolsky Realty & Management - Long Beach, CA
Licensed California Real Estate Broker

Team Bliz~ it's nice to know that even if it takes a little longer to close escrow this time of year, "sellers can still be successful when they team-up with the right broker/agent

Nov 08, 2013 01:13 AM #10
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Liz and Bill Spear
RE/MAX Elite 513.520.5305 www.LizTour.com - Mason, OH
RE/MAX Elite Warren County OH (Cincinnati/Dayton)

Jon, We love to have the opportunity!  We're actually WAY lower on homes to sell for us than normal because we've been selling them!

Nov 08, 2013 02:23 AM #11
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