What's My Lebanon Ohio Home Worth? June 2016
BOOM!! The Lebanon Ohio real estate market went off like 4th of July fireworks! HUGE sales, solid prices, one of the best months since 2010! While summer months are usually big for sales, this was even better than expected! Stick with us for the full details further down in this report.
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: 64 (3 Bank/Government Owned, 1 Short Sale, 2 New Construction) UP 31 (you read that right, almost DOUBLED May sales)
Average Price: $230,269 DOWN $15k
Median Price: $207,000 DOWN $13k
Days on Market Average: 79 UP 9 (Median 33 days)
Homes Active 7/6/16: 148 UP 19
Homes Pending 7/6/16: 84 DOWN 17
Sales/List %: 96.6% DOWN 1.8%
Most Expensive Home Sold: $553,500
Least Expensive Home Sold: $28,000
So what are the key takeaways from this month's numbers?
- June was the 2nd best month ever on our chart! LOTS of homes completed sale (including one of our Lebanon listings in Point View). There are still a LOT of homes under contract, and finally inventory is up a bit so more selection for buyers.
- Prices dropped a bit, but on the positive side compare the number on the median price chart and you'll see June 2016 beat past Junes and continued the trend of 2016 median prices being the best on the chart relative to their past months.
- Overall only 3 of the 64 homes sold below $100,000 but 13 sold ABOVE $300,000. A pretty good month for home prices!
- Average time to sell increased a bit, but still not bad.
- Distressed properties remain insignificant. Just 4 of the 64 homes sold were foreclosed or short sales, and of the 148 on the market, just 2 foreclosures and 2 short sales.
So what does this mean to you as a Lebanon single family home owner?
WE STILL HAVE NO CHANGE IN HOME OWNER ADVICE: Homes for sale are still in SHORT supply. Buyers are anxious for something new to look at and buy. We strongly recommend getting the jump on your competition and getting on the market sooner rather than later. 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!! Act fast if you see a home you like!! Inventory is still low and while you might look at time on the market and think you have plenty of time, other buyers are out there too and might like the same house you do. Watch for new homes for sale that fit your needs and ACT quickly. .
The selection of foreclosed/short sale homes is minimal, 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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