The Lebanon Ohio real estate market was exceptionally good, especially for the time of year. There was a significant portion of sales priced above $300,000 and also a signficant number of new construction homes sold. 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: 42 (0 Bank/Government Owned, 0 Short Sale, 9 New Construction) UP 11
Average Price: $287,140 UP $64k
Median Price: $255,891 UP $53.5k
Days on Market Average: 96 UP 34 (Median 48 days)
Homes Active 12/8/17: 90 DOWN 12
Homes Pending 12/8/17: 44 DOWN 15
Sales/List %: 98.0% DOWN .9%
Most Expensive Home Sold: $702,000
Least Expensive Home Sold: $98,500
So what are the key takeaways from this month's numbers?
- A VERY strong month for Lebanon Ohio home sales! We had the best median prices since the beginning of 2010 AND the best November for completed sales!
- Now why the burst in price and activity? Looked at the 9 completed sales for a good portion of that story. 9 is more than a typical month, new construction prices tend higher than most resales.
- 16 homes sold for more than $300,000 vs. 5 the month prior, so the prices drove up significantly.
- Time to sell slowed, a reflection of the time of year AND new construction days on market tend to be longer.
- Of the 90 homes for sale, 20 are new construction.
- With 44 homes under contract, expect December completed sales to be lower than November's.
- Distressed properties continue to be almost nonexistent. None of the 42 sales was a foreclosure, and of the 90 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 despite the longer time on market for most sellers.
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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