What's My Lebanon Ohio Home Worth? June 2014 Real Estate Update

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

What's My Lebanon Ohio Home Worth?  June 2014 Real Estate Update

The summer party time is here!  Fireworks the last few nights can easily be seen and heard as local celebrations mark July 4th!  Has the Lebanon real estate market gone up, and your home's worth with it?  Stay with us for the full Lebanon real estate market report and Search Lebanon Ohio homes for sale links towards the end. 

All data is derived from the Cincinnati MLS system.  If any Lebanon single family homes 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. 

 
A Lebanon Ohio home we have 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.

Countryside of Lebanon Ohio 45036

Countryside, a pool community of Lebanon Ohio

So on to the review!

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:  35   (1 Bank/Government Owned, 0 Short Sale) UP 6

Average Price:  $208,181 FLAT

Median Price:  $187,000  DOWN $8k

Days on Market Average:  85  DOWN 54

Homes Active 7/5/14:  180  UP 19

Homes Pending 675/14: 70  DOWN 6

Sales/List %:  97.2%  UP 2.2%

Most Expensive Home Sold:  $400,000

Least Expensive Home Sold:  $20,000

 

So what are the key takeaways from this month's numbers? 

  • Overall, a solid month!  Average price was within $200 of being the same as last month.  Median price moved down slightly and not enough to be of concern if you're wondering if it hurt your home's value.
  • Time to get under contract (days on market) dropped back to closer to where it was in April after a HUGE jump last month due to some much longer than average homes sold.
  • Not too much sold on the low end, with only 2 homes sold below $100k.  On the other hand, 7 homes sold at $300k or above.
  • The number of homes for sale increased, typical as school lets out and more people try to sell their homes prior to school reopening.
  • Not too much being given away in negotiations, with less than 3% discounted from asking price to sold price.
  • Also not much impact from distressed homes.  Only 1 foreclosed home sold out of 35 total sold, and of the 180 for sale, only 12 are foreclosed or short sales.
  • 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 May at $400,000, you can see selling a $500,000 or more home is just tough.  Most buyers wanting that segment head to Mason or Springboro.  

Lebanon Ohio homes for sale

So what does this mean to you as a Lebanon single family home owner? 

The Lebanon market continues to be stable.  Solid pricing, relatively short time on market, and depending on the segment of the market, not a tremendous amount of competition.  If you want to sell, we see no solid reason to discourage you. Foreclosures and short sales are now a minimal impact, and you're not going up against significant new construction (yet....we keep hearing about future developments coming, but we'll see how that goes). 

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! 

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 either.  The high number of Pending sales tells us you have plenty of competition for the best homes.  Don't assume you can "low ball" a seller and walk away with the keys.

The selection of foreclosed/short sale homes is shrinking, and 8 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 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

 

May 2014 Lebanon Single Family Home Market Report

April 2014 Lebanon Single Family Home Market Report

March 2014 Lebanon Single Family Home Market Report

February 2014 Lebanon Single Family Home Market Report

January 2014 Lebanon Single Family Home Market Report

December 2013 Lebanon Single Family Home Market Report

November 2013 Lebanon Single Family Home Market Report

October 2013 Lebanon Single Family Home Market Report

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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Rainmaker
2,318,777
Anita Clark
ColdwellBanker SSK Realtors ~ 478.960.8055 - Warner Robins, GA
Realtor - Homes for Sale in Warner Robins GA

BLiz: It is good for sellers to see homes moving so quickly in the Lebanon Ohio real estate market right now. Also, very good for market stability to see so few distressed properties on the market.

Jul 05, 2014 03:00 AM #1
Ambassador
1,704,110
Tammie White, Broker
Franklin Homes Realty LLC - Franklin, TN
Franklin TN Homes for Sale

Really the largest YMCA is there? Who knew? This is exactly the type of info buyers and sellers won't find anywhere else. The Liz Spear Team are the best agents when it comes to buying or selling Lebanon OH real estate. Be sure to call them today.

Jul 05, 2014 03:07 AM #2
Rainmaker
1,523,705
Sybil Campbell
Long and Foster REALTORS® 5234 Monticello Ave Williamsburg, Virginia - Williamsburg, VA
REALTOR® ABR, SFR, SRES Williamsburg, Virginia

Elizabeth and William, Great bar charts and lots of helpful information. 

Jul 05, 2014 03:20 AM #3
Ambassador
2,735,521
Liz and Bill Spear
RE/MAX Elite 513.520.5305 www.LizTour.com - Mason, OH
RE/MAX Elite Warren County OH (Cincinnati/Dayton)

Anita, Definitely liking the decline of distressed properties in our market.

Tammie, It's a surprise, but it's here!  And thanks for the tip on the title, giving it a try!

Sybil, We try to pack in all the pertinent info with our market reports.

Jul 05, 2014 04:28 AM #4
Rainmaker
974,759
Beth and Richard Witt
Long Island Cash Home Buyer - Huntington, NY
Long Island Cash Home Buyer 516-330-6940

What a fantastic presentation. Very comprehensive and clearly shows both sellers and buyers what is going on it Lebanon Ohio housing market.

To me it looks like a good time for both buyers and sellers to make a move...

Here's to a great July...

Jul 05, 2014 09:55 AM #5
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2,735,521
Liz and Bill Spear
RE/MAX Elite 513.520.5305 www.LizTour.com - Mason, OH
RE/MAX Elite Warren County OH (Cincinnati/Dayton)

Beth, It's the kind of market we like, NEITHER the buyers or sellers are dominating, so everyone needs to play nice in the real estate sandbox.

Jul 05, 2014 10:59 AM #6
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Tammy Lankford,
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Broker GA Lake Sinclair/Eatonton/Milledgeville

Stable is a good thing.  I think we are approaching that after a buyer's market for so very long.

Jul 05, 2014 12:32 PM #7
Ambassador
2,735,521
Liz and Bill Spear
RE/MAX Elite 513.520.5305 www.LizTour.com - Mason, OH
RE/MAX Elite Warren County OH (Cincinnati/Dayton)

Tammy, I like the pendulum in the middle.

Jul 05, 2014 12:49 PM #8
Rainer
1,756,848
Conrad Allen
Re/Max Professional Associates - Webster, MA
Webster, Ma, Realtor

Hi Bill.  DOM dropped like a rock.  Good for sellers.

Jul 05, 2014 08:24 PM #9
Ambassador
2,735,521
Liz and Bill Spear
RE/MAX Elite 513.520.5305 www.LizTour.com - Mason, OH
RE/MAX Elite Warren County OH (Cincinnati/Dayton)

Conrad, We had a huge UP swing the month before, so good to see days on market return to close to the previous average.

Jul 05, 2014 11:58 PM #10
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