What's My Lebanon Ohio Home Worth? January 2016
So far, so good! We seem to be skating through a mild winter with snowfall infrequent and mostly insignificant. But even with the milder than normal temps we saw a dip in the local Lebanon real estate market. As expected, sales were on the light side, but the number of homes under contract? Now THAT is a nice number boding well for the coming months. Stick with us for the details and the context of the Lebanon housing market.
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, first up, completed sales!
Next is the Lebanon median price summary chart.
Lebanon 45036 Single Family Home Category Data Summary
Homes Sold: 19 (1 Bank/Government Owned, 0 Short Sale) DOWN 13
Average Price: $219,712 DOWN $11k
Median Price: $225,000 UP $31k
Days on Market Average: 101 DOWN 56 (one home needed 728 days to sell)
Homes Active 2/6/16: 129 DOWN 9
Homes Pending 2/6/16: 56 UP 21
Sales/List %: 97.4% UP .1%
Most Expensive Home Sold: $372,000
Least Expensive Home Sold: $70,600
So what are the key takeaways from this month's numbers?
- January was a mixed month. Yes, sales volume was down significantly from December, but when compared to past Januarys, it's neither great nor horrendous, just typical.
- What is a better indicator for the upcoming months? The spike in homes under contract, jumping from 35 to 56. That tells us clearly that the buyers were out in full force in January and making decisions.
- Time to sell dropped, but still over 3 months. However, a almost half sold in under a month, and the stats point to those that sell quicker selling for closer to asking price. Yes, getting it right from the start is key to a quick sale for most dollars!
- Distressed properties remain insignificant. Just 1 of the 19 homes sold were foreclosed or short sales, and of the 129 on the market, just 3 foreclosures and 3 short sales.
Number of homes for sale shrank some more. Hopefully with that furry rodent in PA predicting an early spring sellers will come out of their borrows and add some possibilities for buyers to pursue.
So what does this mean to you as a Lebanon single family home owner?
Homes for sale in SHORT supply. Buyers are anxious for something new to look at and buy. Considering all the factors right now in the sellers' favor, if you're thinking about selling NOW might be better than waiting for Spring, assuming your home is show ready or could be soon. Give us a call and we can meet and determine what is best for your personal circumstances.
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 513-520-5305.
So what does this mean to you as a potential Lebanon home buyer?
NOT MUCH CHANGE FROM LAST MONTH: There are now even FEWER homes available to buy!! The spike in number of homes under contract clearly indicates you as a buyer have competition! Watch for new homes for sale that fit your needs and ACT quickly. Waiting for the weekend might be the difference between getting your dream home and being told "Sorry, we just accepted an offer!".
The selection of foreclosed/short sale homes is almost nonexistent, so don't count on finding one to buy, much less one in good condition.
When you're considering buying a Lebanon home, please contact us 513-520-5305 or Liz@LizSpear.com 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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