Sometimes what you expect to happen for real estate markets doesn't happen. And so it was this past month for Lebanon Ohio as the number of homes sold shot up WAY beyond the norm. 57 homes completed their sale, and that wasn't just a good September, it was a good ANY month! 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: 57 (6 Bank/Government Owned, 1 Short Sale, 6 New Construction) UP 9
Average Price: $211,124 DOWN $ 9k
Median Price: $194,000 NO CHANGE
Days on Market Average: 68 UP 26 (Median 16 days)
Homes Active 10/5/16: 133 UP 3
Homes Pending 10/5/16: 76 DOWN 25
Sales/List %: 97.9% UP .5%
Most Expensive Home Sold: $450,000
Least Expensive Home Sold: $54,500
So what are the key takeaways from this month's numbers?
- Like we mentioned at the beginning, a great month for finished sales with 57 homes sold. That was one of the best single months since the beginning of 2010. And we returned to the pattern of 2016 median prices beating the previous years. Other than August, EVERY 2016 month has beaten their corresponding months.
- Homes pending under contract dropped, but 76 is still a VERY solid number.
- Prices dropped slightly on average, and stayed the same for median. 4 homes sold under $100,000 and that explains the average drop.
- 10 homes sold ABOVE $300,000 and of those 10 2 were above $400,000
- Time to go under contract increased to 68 days on average, but 1/2 of the homes under contract only needed 16 days or less. Still a pretty brisk market.
- Distressed properties were higher than typical, acounting for 7 of the 57 sales (6 foreclosures and 1 short sale). Of the 133 on the market, 3 are foreclosures and 2 are short sales.
So what does this mean to you as a Lebanon single family home owner?
Despite the "normal" slowdown this time of year, things aren't normal. It's still a seller's market if you price properly. There is still a relative scarcity of homes for sale, but we'd recommend acting quickly while there's still some green in the grass!
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 IN OUR ADVICE FROM RECENT MONTHS!! 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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