Lebanon Ohio 45036 Single Family Home Residential Market Report April 2014
We're well into the Spring season, lawnmowers have been started, plenty of blooms, trees starting to leaf out and we're completely out of the shadow of threats of snow! So did the Lebanon Ohio real estate market break into a songbird's melody, or are the signs less positive? 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.
Shaker Run, a pool/golf development 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: 31 (5 Bank/Government Owned, 1 Short Sale) DOWN 2
Average Price: $163,349 DOWN $16k
Median Price: $166,000 UP $15k
Days on Market Average: 80 DOWN 19
Homes Active 5/7/14: 167 UP 14
Homes Pending 5/7/14: 61 UP 6
Sales/List %: 97.1% UP 1.0%
Most Expensive Home Sold: $382,000
Least Expensive Home Sold: $40,000
So what can we determine from the latest statistics?
In one word: Meh. Not a great month, not a terrible month, more mixed bag just like last month. Sales volume is fairly consistent with previous Aprils, and like most of Warren County April was flat for sales when compared to March. Prices are consistent with past Aprils also, so again, not much change. It's a positive sign to see days on market dropping and Pendings increasing. And since there wasn't a big spike in homes for sale, inventory is still fairly limited. And foreclosures and short sales aren't having a huge impact on the market, only accounting for 7 of the 31 completed sales and 9 of the 167 homes currently not under contract.
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. With the highest sale in April at $382,000, you can see 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?
On the plus side, homes ARE selling, just not as many or as quickly as we'd like to see. Still, about one of every four homes offered for sale right now is under contract. We are heading into what has historically been our busiest months, so if you've been thinking about selling your home, we'd strongly suggest at a minimum meeting with us to review your home's worth and the market conditions particular to your home.
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!
Be aware you're competing with some distressed properties (but less than 10% of the market is a good thing) AND some new construction. And while the market has been improving, buyers still have no qualms with offering low. But the good news is no matter their starting price, an offer is needed to get them to a good FINAL price that works for you.
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 has changed here. Still a decent amount of homes to pick from, not much true price trending upwards, so still overall a fairly balanced market. HOWEVER, you have competition for the REALLY prime homes. While low offers may work in some cases, don't be disappointed when they don't work on the best of the best homes.
The selection of foreclosed/short sale homes is shrinking, and 9 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 $400,000 and Up
Serving Lebanon's home buyers and sellers,
Liz and Bill aka BLiz