It's snowing outside as this post is written. Just a few inches of the white stuff, but it's not cooling the Lebanon Ohio real estate market. Despite the holidays and the cold weather, December was a VERY strong month for Lebanon Ohio home sales! 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: 35 (0 Bank/Government Owned, 1 Short Sale, 5 New Construction) DOWN 5
Average Price: $230,111 UP $15k
Median Price: $229,900 UP $18.5k
Days on Market Average: 101 UP 47 (Median 74 days)
Homes Active 1/5/17: 89 DOWN 11
Homes Pending 1/5/17: 59 DOWN 19
Sales/List %: 97.5% UP .2%
Most Expensive Home Sold: $353,000
Least Expensive Home Sold: $82,500
So what are the key takeaways from this month's numbers?
- Lebanon finished 2016 on a strong note. While sales were down relative to November, it was the best single December on our chart. Not bad at all! And check out the median price, also the best on the chart for any single month since January 2010.
- With 59 homes under contract, January may beat the norm for past Januarys too.
- Prices regained the drops from the previous month, with only one home below $100,000 and 10 sold for $300,000 or more.
- Time to go under contract increased significantly to 101 days on average and 74 days on median. Part of that push were some homes selling that took MUCH longer than the norms (e.g. 400+ days). There's a severe time on market penalty for being VERY VERY OVERPRICED.
- Distressed properties were minimal again. Only 1 of the 35 sales was a foreclosure, and of the 89 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 in short supply. Yes it's cold, but homes are still selling. 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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