What's My Lebanon Ohio Home Worth? March 2015
Spring has arrived! Flowers blooming, warmer weather and the usual surge in real estate activity that comes with it! Stick with us for the full details!
We offer links at the bottom of the post to search Cincinnati MLS listed Lebanon Ohio homes for sale, and if you want specifics for What Is My Lebanon Ohio Home Worth?, please click that link and fill out the form. We'll get back to you shortly with the latest info that applies to YOUR home!
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.
Some reasons why Lebanon Ohio is a great place to live:
- Named one of Ohio magazine's Top 5 Hometowns for 2012
- HUGE YMCA
- Ready access to Cincinnati and Dayton
- A cool historic downtown area
- Host to an abundance of festivals throughout the year
- The cost of living in Lebanon is more affordable than some other Warren County communities
- A full range of housing price points, from below 100k to some estate homes under a million dollars.
- There is still new construction available, but you can pick any age from historic to brand new.
Countryside, a pool community 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: 42 (2 Bank/Government Owned, 1 Short Sale) UP 22
Average Price: $182,011 UP $14k
Median Price: $163,750 UP $4k
Days on Market Average: 109 UP 58
Homes Active 4/5/15: 153 DOWN 20
Homes Pending 4/5/15: 72 UP 11
Sales/List %: 96.2% UP .6%
Most Expensive Home Sold: $433,000
Least Expensive Home Sold: $27,100
So what are the key takeaways from this month's numbers?
- There aren't many times we can say an area has homes sales more than DOUBLE from one month to the next, but February to March sales in Lebanon displayed a strong surge. Prices (both average and median) also increased.
- Of the 42 homes sold, only three were either foreclosed (2) or short sales (1). Four of the 42 home sold BELOW $100,000 and only 3 homes sold above $300,000.
- The trend from last month continues as the number of homes for sale DECREASED and the number of homes under contract INCREASED. That means a tighter supply of homes for home seeking buyers. Tight supply typically means higher prices too.
Of the 153 homes for sale not under contract, only 13 are foreclosed or short sales.
- No change in the Lebanon luxury market, STILL a tough segment of the market. No homes sold above $500k. The competition from Mason and Springboro make it tough to be a Lebanon luxury home seller.
So what does this mean to you as a Lebanon single family home owner?
The pendulum has swung back to the sellers' favor. When over a 1/3 of all homes for sale are already under contract, it puts the pressue on the buyers to compete for the remaining homes. Remove the homes that have a glaring issue (condition, overpriced, location) and there are even fewer homes for the buyers to battle for. The edge is now to the sellers IF you have a good condition home and well priced. You're not going up against significant new construction in MOST communities, but places like Shaker Run and Trails of Shaker Run new construction do challenge your ability to sell.
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?
NO REASON TO CHANGE FROM LAST MONTH: Inventory is EVEN LOWER THAN LAST MONTH. Buyers have plenty of competition for the best homes and asking the seller to take too low a price of asking for extensive concessions may keep you from becoming a homeowner.
The selection of foreclosed/short sale homes is shrinking, and 13 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
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