Overall another strong month for Lebanon Ohio homes sales when you have the full context of the numbers. Time to sell dropped significantly, so we know the usual Spring surge is in place. 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: 46 (0 Bank/Government Owned, 0 Short Sale, 6 New Construction) DOWN 6
Average Price: $252,254 DOWN $26.5k
Median Price: $232,750 DOWN $23k
Days on Market Average: 41 DOWN 31 (Median 4 days)
Homes Active 6/5/19 73 DOWN 3
Homes Pending 6/5/19: 66 DOWN 2
Sales/List %: 98.6% UP .7%
Most Expensive Home Sold: $435,000
Least Expensive Home Sold: $105,000
So what are the key takeaways from this month's numbers?
- April's numbers were unusually high, so while normally we'd say a dip in sales month to month isn't the greatest news, when you compare to past Mays, you'll see the 46 homes sold was actually one of the better years.
- Prices dropped a bit month to month, but again, April was better than usual, so the drops in May just balanced out April's surge. May's home sales also had a decrease in upper end sales, with no home sold reaching the "luxury" definition of $500,000 or more.
- However, 6 homes did sell for more than $400,000.
- The number of homes under contract is still significant, and Lebanon still has almost as many homes under contract as are not under contract. Buyer demand is still exceeding supply.
- Average time to sell dropped significantly, and half of the homes sold were under contract in 5 days or less.
- New construction sales accounted for 6 of the 46 sales and 21 of the 73 for sale.
- Distressed (short sales and foreclosures) properties accounted for no completed sales. There is one distressed properties (a short sale) NOT under contract.
So what does this mean to you as a Lebanon single family home owner?
The Spring market is here and still strong. In particular, Lebanon has a shortage of lower priced homes.
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 is still on the low side and based on the 5 days median time to contract, you better act quickly 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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