Lebanon Ohio 45036 Single Family Home Residential Market Report December 2013
We feel like we've been living in a freezer the last few days, with temps reaching below zero! Has the cold weather put a chill on the Lebanon Ohio real estate market? Stay with us for the full Lebanon real estate market report and some Search Lebanon Ohio homes for sales links towards the end! We think you're going to like what we have to tell you!
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.
Shaker Run, a pool/golf 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: 31 (3 Bank/Government Owned, 1 Short Sale) DOWN 8
Average Price: $190,918 UP $12k
Median Price: $170,000 UP $21k
Days on Market Average: 82 UP 5
Homes Active 1/8/14: 147 DOWN 8
Homes Pending 1/8/14: 47 DOWN 17
Sales/List %: 95.5% UP 1.0%
Most Expensive Home Sold: $405,015
Least Expensive Home Sold: $49,900
So what can we determine from the latest statistics?
To put it simply, December ROCKED! Well, at least for a December when the Lebanon real estate market is typically on a down note. The sales volume? BEST December on our report. Median price? ALSO the best December on our report and 3rd best month of 2013. As far as the negative stats, we EXPECT days on market to be longer, to have less homes for sale and less homes to be under contract. Those are all norms for the "off" season in Lebanon real estate. Distressed (foreclosures and short sales) were low, and only 4 homes sold below $100,000 and 3 sold above $300,000. Overall, a FANTASTIC December for Lebanon!
We're going to continue to do the broken record routine for the luxury market in Lebanon. 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 buyer activity is lower this time of year, the limited inventory works in your favor since there's less for the SERIOUS buyers shopping this time of year to pick from. 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 the spring market!
Be aware you're competing with some distressed properties (but 13 isn't too bad) AND some new construction. And while the market has been improving, buyers still have no qualms 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 that time of year when you have less competition, but also less to choose from. The market isn't the drastic, BUYERS RULE THE WORLD market it was a few years ago. Sellers are expecting to get closer to asking price, but are still willing to negotiate with you barring you making such a low offer that their emotion trumps the logic of wanting to sell their home.
The selection of foreclosed/short sale homes has been steady since last month, 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