February 2020 was a good month for Lebanon Ohio homes sales, but we've been dealt a major wild card with COVID-19. Stock portfolios tumbling is not good for many home buyers, and the shut down of schools and some businesses may negatively impact home sales. We'll be watching closely to see if this is a temporary blip or something that is going to have a longer impact. Stay with us to get the full details on February'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 Active 3/14/20: 51 UP 2
Homes Pending 3/14/20: 64 UP 10
Homes Sold: 27 (2 Bank/Government Owned, 1 Short Sale, 2 New Construction) SAME
Average Price: $294,726 DOWN $35k
Median Price: $269,900 UP $30k
Days on Market Average: 79 DOWN 40 (Median 44 days)
Sales/List %: 97.1% DOWN 1.5%
Most Expensive Home Sold: $743,250
Least Expensive Home Sold: $50,500
So what are the key takeaways from this month's numbers?
- February performed well for the two primary stats: total homes sold and median price. 27 is high for a February and the best median price for a February in years, and almost the tops for ANY month in recent years. There were some big swings in average and median price month to month, but the month before there were some exceptionally large swings that set up this month's corrections.
- This month there was an almost complete absence of luxury homes, with only one home selling for more than $500,000.
- Time to sell is a bit under 3 months on average and 1.5 months for median.
- The number of homes under contract increased again. .
- New construction sales accounted for 2 of the 27 sales.
- Distressed (short sales and foreclosures) properties accounted for 3 completed sales, significantly more than a typical month. There are no distressed properties NOT under contract.
So what does this mean to you as a Lebanon single family home owner?
NO CHANGE: The shortage of homes for sale gives the edge to sellers.
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. We're approaching the busier time of theyear, so keep an eye out for new listings and 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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