What's My Lebanon Ohio Home Worth? February 2016

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

What's My Lebanon Ohio Home Worth?  February 2016

The weather has been unseasonably warm, but unfortunately those extra degrees haven't led to more homes sold in Lebanon YET!!  However, while completed sales in January and February have been on the low side, homes under contract are skyrocketing, with 69 homes currently under contract.  That's over 3.5 times the number of homes sold in February.  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. 

 
A Lebanon Ohio home we have for sale 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 of Lebanon Ohio 45036

Countryside, a pool community of Lebanon Ohio

So on to the review, first up, completed sales!
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:  18 (1 Bank/Government Owned, 0 Short Sale) DOWN 1

Average Price:  $190,104 DOWN $29.5k

Median Price:  $176,000  DOWN $49k 

Days on Market Average:  108  UP 7  (Median 30 days)

Homes Active 3/5/16:  119 DOWN 10

Homes Pending 3/5/16: 69  UP 13

Sales/List %:  98.6%  UP 1.2%

Most Expensive Home Sold:  $490,000

Least Expensive Home Sold:  $67,000

 

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

  • As we mentioned at the beginning, not a huge month for completed sales.  18 homes exchanging ownership is more or less typical for a February when you look at 2010 to present sales.  The number of homes under contract is another story, with 69 working their way to the closing table, so expect March and April sales totals to climb as they typically do. 
  • The market is shrinking, as homes going under contract is exceeding the number of homes coming on them market.  We're down to 119 homes not under contract.  When you spread that across all price points selection thins out quickly.
  • Time to sell increased on average to well over 3 months.  However, 1/2 the homes still go under contract in less than 30 days.   Those sellers who get their home ready and get the price right from the start can still have a quick sale.
  • Distressed properties remain insignificant.  Just 1 of the 18 homes sold were foreclosed or short sales, and of the 119 on the market, just 4 foreclosures and no short sales.   

Lebanon Ohio homes for sale

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

NO CHANGE FROM LAST MONTH:  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? 

NO CHANGE HERE EITHER:   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 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

 

Recent Market Reports:

January 2016 Lebanon Single Family Home Report

December 2015 Lebanon Single Family Home Report

November 2015 Lebanon Single Family Home Report

October 2015 Lebanon Single Family Home Report

September 2015 Lebanon Single Family Home Report

August 2015 Lebanon Single Family Home Report

July 2015 Lebanon Single Family Home Report

June 2015 Lebanon Single Family Home Report

May 2015 Lebanon Single Family Home Report

April 2015 Lebanon Single Family Home Report

March 2015 Lebanon Single Family Home Report

February 2015 Lebanon Single Family Home Report

January 2015 Lebanon Single Family Home 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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Paul S. Henderson, REALTOR®, CRS
RE/MAX Northwest. - Tacoma, WA
Tacoma Washington Agent/Broker & Market Authority!

I'm your sure your MLS search avenues have help many find their dream house!

  I am on my way back, thanks for all the encouragement Liz and Bill Spear 

Mar 05, 2016 09:17 AM #1
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Paul S. Henderson, REALTOR®, CRS
RE/MAX Northwest. - Tacoma, WA
Tacoma Washington Agent/Broker & Market Authority!

I follow market trends across this great country and Labanon is quite common in it's market trends Liz and Bill Spear 

Mar 05, 2016 06:29 PM #2
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Joyce Marsh
Regal | Christie's International Real Estate - Orlando, FL
Regional Manager Regal Christie's Int'l Realty

This is great real estate market information to share, and a nice overview for both buyers and sellers in the Lebanon market.

Mar 05, 2016 08:06 PM #3
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Liz and Bill Spear
RE/MAX Elite 513.520.5305 www.LizTour.com - Mason, OH
RE/MAX Elite Warren County OH (Cincinnati/Dayton)

Paul, Glad to help!  And Lebanon certainly tends to follow our local trends.

Joyce, Thanks!  We try to cover the key points buyers and sellers may want to know about.

Mar 06, 2016 11:48 AM #4
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