The Lebanon Ohio real estate market was busier than you might expect for November. While not unusual to see the number of homes for sale shrink as it did last month, the number sold and under contract remained strong. And we wouldn't worry much about the price drop compared to October since October had a high bump. Median prices continued the 2016 trend of beating past years for the same month. 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 (2 Bank/Government Owned, 1 Short Sale, 2 New Construction) FLAT
Average Price: $215,060 DOWN $28.5k
Median Price: $201,450 DOWN $19k
Days on Market Average: 54 DOWN 42 (Median 23 days)
Homes Active 12/7/16: 100 DOWN 15
Homes Pending 12/7/16: 78 UP 1
Sales/List %: 97.3% UP .6%
Most Expensive Home Sold: $430,000
Least Expensive Home Sold: $67,800
So what are the key takeaways from this month's numbers?
- Look at past Novembers and you'll see 2016 was MUCH stronger than past years. And with 78 home under contract, December should finish out the year strong.
- 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.
- Same as last month, Homes pending under contract rose by a whopping total of ONE, but one is better than decreasing!
- Prices dropped, but we'd had an abnormal spike UP the previous month. Only one home sold below $100,000, and 7 sold for $300,000 or more. In October that number was 13, thus the price decreases.
- Time to go under contract decreased significantly to 54 days on average and 23 days on median. That's definitely a significant slowing of the market.
- Distressed properties were minimal. Only 3 of the 40 sales was a foreclosure, and of the 100 homes on market NONE are bank owned or short sales.
So what does this mean to you as a Lebanon single family home owner?
NO CHANGE FROM LAST MONTH: 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?
NO CHANGE HERE EITHER: 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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