A single community sales in Lebanon is driving up prices! Want to know where? Read below to get 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: 53 (0 Bank/Government Owned, 0 Short Sale, 6 New Construction) UP 13
Average Price: $315,462 UP $57k
Median Price: $220,000 DOWN $16.5k
Days on Market Average: 58 UP 24 (Median 12 days)
Homes Active 8/8/18 97 DOWN 2
Homes Pending 8/8/18: 65 DOWN 13
Sales/List %: 99.4% UP 1.4%
Most Expensive Home Sold: $1.073,350
Least Expensive Home Sold: $120,000
So what are the key takeaways from this month's numbers?
- There's a key change in the Lebanon market. The luxury agricommunity of Aberlin Springs has started to complete sales. That million dollar sale? In Aberlin Springs, along with a few other sales. Net result is the average price for Lebanon received a significant boost.
- The median price actually moved down. While no homes sold below $100k, a decent amount sold below $200k.
- Total sales for July was the best since 2010 for a July. It would appear a decent number of "normal" June sales went to either May or July.
- There are a few signs of the normal late summer slowdown: time to sell is increasing and the number of homes under contract is dropping.
- 13 homes sold for more than $400,000 and 7 of those were more than $500,000.
- New construction sales accounted for 6 of the 53 sales and 21 of the 97 for sale.
- Time to sell on average is now at 8+ weeks.
- Distressed properties continue to be a very small segment of the market. None of the 53 sales was a foreclosure, and of the 97 homes on market none is bank owned and none are a short sale.
So what does this mean to you as a Lebanon single family home owner?
No change from past 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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