We're finishing up Labor Day weekend and the heat is still here. The real estate market is still pretty warm too, with 48 completed sales in August! 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: 48 (2 Bank/Government Owned, 2 Short Sale, 3 New Construction) UP 9
Average Price: $220,019 DOWN $ 11k
Median Price: $194,000 DOWN $18k
Days on Market Average: 42 DOWN 10 (Median 27 days)
Homes Active 9/5/16: 130 DOWN 20
Homes Pending 9/5/16: 101 UP 9
Sales/List %: 97.4% DOWN .1%
Most Expensive Home Sold: $400,000
Least Expensive Home Sold: $116,700
So what are the key takeaways from this month's numbers?
- The pattern continues. Sales peak in June, drop a bit in July, then jump again in August. One pattern that didn't hold? This was the first month in 2016 where the median price wasn't than the previous 6 years, although in this case only 2015's August sales were higher than 2016.
- Sales were solid, pending numbers went up so expect a really good September, but the drop in homes for sale would indicate longer term we should expect to start dropping a bit in sales volume. And on a personal note, we sold the most expensive home sold last month in Lebanon at 715 Dorothy Drive in Candlewood.
- Prices dropped a bit, but were still solid.
- None of the 48 homes sold below $100,000 and 9 sold ABOVE $300,000.
- Homes sold faster, needing less that 42 days to go under contract for the 48 homes that completed sale.
- Distressed properties reappeared last month, accounting for 4 of the 48 sales (two short sales and two foreclosures). Of the 130 on the market, are foreclosures and 2 are short sales.
So what does this mean to you as a Lebanon single family home owner?
School may be back in session, but there's still plenty happening. 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 even lower 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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