Lebanon Ohio 45036 Single Family Home Residential Market Report November 2013
The Lebanon Ohio weather can't make up it's mind. Snow, temps in the 60's, more of the White Death tonight?? Maybe a lot of it? We've got daffodil sprouts sticking up right now!! Has the Lebanon Ohio real estate market been just as confused? 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: 39 (4 Bank/Government Owned, 2 Short Sale) UP 6
Average Price: $178,873 UP $22k
Median Price: $149,000 DOWN $1k
Days on Market Average: 77 DOWN 11
Homes Active 12/5/13: 155 DOWN 16
Homes Pending 12/5/13: 64 DOWN 6
Sales/List %: 94.5% DOWN 1.6%
Most Expensive Home Sold: $415,000
Least Expensive Home Sold: $25,100
So what can we determine from the latest statistics?
Well THAT was a surprise wasn't it? At least when compared to past years 39 homes sold in November is pretty unexpected and a HUGE jump relative to the last few years! Best total of homes sold in 3 months too! The median price for all intent stayed steady. Days on market went down. And all this WITH the Thanksgiving Weekend taking some extra business days out of the month. And it wasn't a rash of bargain hunting either. Distressed (foreclosures and short sales) were low, and only 5 homes sold below $100,000 and 4 sold above $300,000. Overall, a VERY solid month for Lebanon!
We will continue to pound the drum on the luxury market in Lebanon though. Luxury homes continue to be the weakest segment of sales for Lebanon. Selling a $500,000 or more home is just tough. Most buyers wanting that segment head to Mason or Springboro.
So what does this mean to you as a Lebanon single family home owner? While we do expect things to slow down over the Christmas holiday, there's still some strong indicators in a seller's favor. The other option is to start prepping your home NOW to go on the market in 2014. And we're ready to help you, all we need is for you to reach out to us!
Be aware you're competing with some distressed properties AND new construction, but fortunately both categories are fairly minimal. And while the market has been improving, buyers still have no qualm with low balling an offer.
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?
Not a lot has changed with our buyer advice. It's a bit slower overall, but still good. There are fewer buyers actively looking, but there's also fewer homes being offered for sale. With fewer buyers looking during the "slow" months, you MIGHT be able to get away with gambling and watching a house and hoping for a price reduction, but it's not a strategy we'd recommend. Why have regret about losing a home you COULD have had, but missed because you delayed acting. 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 even further, and 13 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 $400,000 and Up
Serving Lebanon's home buyers and sellers,
Liz and Bill aka BLiz