The Lebanon Ohio real estate market slowed as expected for this time of year. At first glance it might seem like the market took a big hit, but there's more to the story than the first glance tell. 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: 31 (0 Bank/Government Owned, 0 Short Sale, 3 New Construction) DOWN 17
Average Price: $223,444 DOWN $27k
Median Price: $202,,000 DOWN $32k
Days on Market Average: 62 UP 16 (Median 43 days)
Homes Active 11/11/17: 102 DOWN 8
Homes Pending 11/11/17: 59 DOWN 3
Sales/List %: 98.9% UP 2.3%
Most Expensive Home Sold: $493,000
Least Expensive Home Sold: $100,000
So what are the key takeaways from this month's numbers?
- It was kind of a "blah" month for Lebanon home sales. 31 completed sales is still good, but it's lower than most recent Octobers.
- This was also the first month in since January that the median price didn't top the years 2010-2016.
- It doesn't mean the rug has been pulled out considering the drop in prices and increase in time to sell, but more a reflection of mix of homes sold and time of year. Only 5 homes sold for more than $300,000 vs. 16 the month prior, so the prices did slip a bit. And there's not quite as much demand this time of year, so time to sell increases a bit.
- Of the 102 homes for sale, 22 are new construction.
- With 59 homes under contract, expect November completed sales to be close to October's total.
- Distressed properties continue to be almost nonexistent. None of the 31 sales was a foreclosure, and of the 102 homes on market one is bank owned and none are short sales.
So what does this mean to you as a Lebanon single family home owner?
No change from past months other than expect things to move a bit slower than during the peak months. If a buyer MUST buy, the relatively low inventory works to your advantage. That doesn't mean a home that is in poor condition or not priced right will still sell.
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. Watch for new homes for sale that fit your needs, but you STILL need to ACT quickly.
The selection of foreclosed/short sale homes is minimal to nonexistent, 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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