What's My Lebanon Ohio Home Worth? July 2016
It might feel like we went from BOOM to fiiiiiiiiizzzzzzzzzzzle in one month. After all, in June Lebanon Ohio closed 64 homes and we dropped all the way down to "only" 39 homes sold in July. On the surface, that looks bad. However, keep in mind two things:
1) June is typically the highest month in sales for the year in Lebanon and June 2016 was an exceptionally great month!
2) July's 39 is actually a typical July. Not the best since 2010, but far from the worst!
Okay, on to the report, so 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, first up, completed sales!
Next is the Lebanon median price summary chart.
Lebanon 45036 Single Family Home Category Data Summary
Homes Sold: 39 (0 Bank/Government Owned, 0 Short Sale, 2 New Construction) DOWN 25
Average Price: $231,415 UP $1k
Median Price: $212,000 UP $5k
Days on Market Average: 52 DOWN 27 (Median 11 days)
Homes Active 8/8/16: 150 UP 2
Homes Pending 8/8/16: 92 UP 8
Sales/List %: 97.5% UP .9%
Most Expensive Home Sold: $455,000
Least Expensive Home Sold: $87,000
So what are the key takeaways from this month's numbers?
- We're following the pattern. Take a look and you see June is peak, a falloff in July, then a jump back up in August. And with 92 Pendings, August SHOULD beat July's 39 closings. We completed a sale on our Trails of Shaker Run listing in July and also have our Candlewood listing under contract to close late this month or early next month. Activity is still out there.
- Prices climbed slightly, and continued the trend of 2016 prices beating 2010-2015 prices.
- Overall only 3 of the 39 homes sold below $100,000 but 9 sold ABOVE $300,000. Another good month for sales.
- Homes sold faster, with 11 days the median for the 39 homes that went under contract. VERY short time to contract for the best homes that sold.
- Distressed properties practically nonexistent in Lebanon. None of the 39 homes sold were foreclosed or short sales, and of the 150 on the market, just 1 foreclosure and 2 short sales.
So what does this mean to you as a Lebanon single family home owner?
Don't let the school bells ringing and the drop make you think it's too late to sell your home. Overall there is still a relative lack of homes for sale and buyers want to see more "new" homes on the market.
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
Recent Market Reports: