A VERY strong April in Lebanon Ohio for home sales. Increases in quantity sold, prices achieved and shortened time on market. In other words, the Spring market is underway! There's still an overall shortage of homes on the market. That's a concern. Another concern? Will the failure of the recent school levy to pass have a negative impact on buyer demand for the area? Time will tell and we'll be tracking the market to interpret what's happening. Stay with us to get the full details on April's market results!
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: 52 (1 Bank/Government Owned, 0 Short Sale, 2 New Construction) UP 21
Average Price: $274,864 UP $16k
Median Price: $255,500 UP $28k
Days on Market Average: 72 UP 10 (Median 22 days)
Homes Active 5/10/19 76 UP 13
Homes Pending 5/10/19: 68 DOWN 9
Sales/List %: 97.9% DOWN .3%
Most Expensive Home Sold: $670,000
Least Expensive Home Sold: $43,000
So what are the key takeaways from this month's numbers?
- March sold numbers were unusually low and April's are unusually high. Average them out and we're still in the "typical" range for this time of year.
- The average and median prices both increased, and the median was the 2nd highest since the beginning of 2013. However, of the 52 homes sold there was a heavier than normal concentration of the more expensive homes (7 sold above $400,000 and 3 of those 7 were above $500,000).
- The number of homes under contract is still significant, and shows almost half of the homes on the market are under contract. Buyer demand is still exceeding supply.
- Average time to sell is over 2.5 months, but note the median number at 3 weeks.
- New construction sales accounted for 2 of the 52 sales and 23 of the 76 for sale.
- Distressed (short sales and foreclosures) properties accounted for one completed sale. There are no distressed properties NOT under contract.
So what does this mean to you as a Lebanon single family home owner?
The Spring market is here. The biggest concern is more long term. The failure of the most recent school levy to pass this week MAY lead to issues with buyer demand if there's a perceived decrease in school quality.
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?
Inventory is higher but still on the low side. ACT quickly when a home you like comes on the market.
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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