October was fairly typical for a Lebanon Ohio October. Inventory is shrinking, homes are taking longer to sell and the number sold dropped. On the other hand, there was a nice push up in prices thanks to minimal homes sold below $100,000, and the number of homes under contract acutally went UP from September. 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: 40 (1 Bank/Government Owned, 0 Short Sale, 3 New Construction) DOWN 17
Average Price: $243,489 UP $32k
Median Price: $220,500 UP $26.5k
Days on Market Average: 96 UP 28 (Median 47 days)
Homes Active 11/7/16: 115 DOWN 18
Homes Pending 11/7/16: 77 UP 1
Sales/List %: 96.7% DOWN 1.2%
Most Expensive Home Sold: $485,000
Least Expensive Home Sold: $35,675
So what are the key takeaways from this month's numbers?
- When you look at past Octobers, 40 completed sales is fairly typical. We EXPECT a drop from September to October too.
- Just like almost every month this year, the month's median price beat 2010-2015. That's a nice sign that the overall Lebanon Ohio housing market has gained valued in 2016.
- Homes pending under contract rose by a whopping total of ONE, but ONE is better than dropping! 77 homes under contract points to a solid November for sold homes.
- Prices climbed, but that's mostly a mix issue. Only one home sold below $100,000, but 13 sold for $300,000 or more, with 2 of the 13 above $400k.
- Time to go under contract increased to 96 days on average and 47 days on median. That's definitely a significant slowing of the market.
- Distressed properties were back to normal, with normal being almost no involvement. Only 1 of the 40 sales was a foreclosure, and of the 115 homes on market only one is bank owned.
So what does this mean to you as a Lebanon single family home owner?
We're pretty much in a balanced market, although there are some segments of the market it short supply. The Lebanon market appears to be entering the usual winter season slow down. The one big edge to sellers is the shrinking inventory. If a buyer MUST buy, then this works to your advantage. That doesn't mean a home that is in poor condition or not priced right will still sell. Buyers are still being particular about their home purchases.
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?
The market is a bit more balanced, but we still (and will ALWAYS) recommend acting fast if you see a home you love! 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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