What's My Lebanon Ohio Home Worth? March 2020 Update

By
Real Estate Agent with RE/MAX Alliance 513.520.5305 www.LizTour.com SAL.2002007747

 Despite the impact of coronovirus restrictions, March was a very solid month for  Lebanon Ohio homes sales.  Total homes sold and time to sell were both good.  We'll be watching closely to see if this continues.   Stay with us to get the full details on March'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. 

 
A Lebanon Ohio home we have for sale 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 of Lebanon Ohio 45036

Countryside, a pool community of Lebanon Ohio

So on to the review, first up, completed sales!
Lebanon Ohio Residential Home Market Report
Next is the Lebanon median price summary chart.

Lebanon Ohio homes sales information

Lebanon 45036 Single Family Home Category Data Summary

Homes Active 4/9/20:  55 UP 4

Homes Pending 4/9/20:  70 UP 6

Homes Sold:  38 (1 Bank/Government Owned, 0 Short Sale, 8 New Construction) UP 11

Average Price:  $277,583 DOWN $17k

Median Price:  $240,000 DOWN $30k 

Days on Market Average:  44 DOWN 35 (Median 4 days)

Sales/List %:  99.8%  UP 2.8%

Most Expensive Home Sold:  $593,379

Least Expensive Home Sold:  $76,500

 

So what are the key takeaways from this month's numbers? 

  • Despite the damper COVID-19 has placed on the economy, Lebanon's real estate market performed well from February to March.  Homes sold VERY quickly, with a median time of 4 days, and this was especially true for homes priced in the low $200s and less. 
  • The total sales completed wasn't a high for a March, but was in the normal range.
  • Prices dropped a bit from February to March, but there'd been an almost equal upswing the prior month.
  • Two homes sold for more than $500,000 and only one home sold for less than $100,000. 
  • The number of homes under contract increased again, something you might not expect with the shelter in place orders.  Fortunately for those looking to buy or sell a home real estate is considered an essential business.
  • New construction sales accounted for 8 of the 38 sales.  The weather is getting better so new construction can proceed with fewer weather interruptions.
  • Distressed (short sales and foreclosures) properties accounted for 1 completed sale.  There are no distressed properties NOT under contract.       

Lebanon Ohio homes for sale

So what does this mean to you as a Lebanon single family home owner? 

NO CHANGE:  The continued shortage of homes for sale gives the edge to sellers.   Note the homes under contract exceeded the number not under contract, and the not under contract includes 13 new construction 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? 

NO CHANGE. We're approaching the busier time of the year, 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 Under $200,000

Search Lebanon Ohio 45036 Homes For Sale $200,000 to $400,000

Search Lebanon Ohio 45036 Homes For Sale $400,000 and Up

Serving Lebanon's home buyers and sellers,
Liz and Bill aka BLiz

Recent Market Reports:

February 2020 Lebanon Ohio Single Family Home Report

January 2020 Lebanon Ohio Single Family Home Report

December 2019 Lebanon Ohio Single Family Home Report

November 2019 Lebanon Ohio Single Family Home Report

October 2019 Lebanon Ohio Single Family Home Report

September 2019 Lebanon Ohio Single Family Home Report

August 2019 Lebanon Ohio Single Family Home Report

July 2019 Lebanon Ohio Single Family Home Report

June 2019 Lebanon Ohio Single Family Home Report

May 2019 Lebanon Ohio Single Family Home Report

April 2019 Lebanon Ohio Single Family Home Report

March 2019 Lebanon Ohio Single Family Home Report

February 2019 Lebanon Ohio Single Family Home Report

January 2019 Lebanon Ohio Single Family Home Report

 

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Serving Warren County Ohio & Adjacent Areas

 

The Liz Spear Team of RE/MAX Alliance
Elizabeth Spear, ABR, CRS, Ohio License SAL.2002007747

William (Bill) Spear, CRS, Ohio License SAL.2004011109  Kentucky 77938
Ask for us by name if you visit the office!

EHO Two locations: Lebanon & Mason, OH
Bill Direct:  513-520-5305
Liz Direct: 513-265-3004     
Fax: 866-302-8418

MailTo:  Liz@LizSpear.com

Search Homes:  Https://WarrenCountyOhioRealEstate.com

Our Website:  www.LizTour.com

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Comments (1)

Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Good morning Bill. Tough to make the best of a terrible situation, but the beat goes on! Enjoy your day!

Apr 10, 2020 03:50 AM
Liz and Bill Spear

Still buying and selling, but with a few more twists along the way.

Apr 13, 2020 07:24 AM