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

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

Here's the condensed version:  coronavirus has SLOWED the Lebanon Ohio real estate market, but NOT destroyed it.  The PAUSE the state put in place is basically what has happened with home sales.  Instead of being in peak market, we're behind the norm but there is pent up demand.  There's a surge in homes under contract, and if you expected prices to plummet, you guessed wrong.  No reason to sell cheaper at all!  Okay, you got the condensed version, jump to the graphs and stats below to get the 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. 

 
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 5/8/20:  59 UP 4

Homes Pending 5/8/20:  85 UP 15

Homes Sold:  31 (0 Bank/Government Owned, 0 Short Sale, 5 New Construction) DOWN 7

Average Price:  $298,309 UP $21k

Median Price:  $239,900 FLAT  

Days on Market Average:  47 UP 3 (Median 5 days)

Sales/List %:  98.6%  DOWN 1.2%

Most Expensive Home Sold:  $791,161

Least Expensive Home Sold:  $45,000

 

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

  • The most obvious thing?  Yes, total sales is down significantly when compared to 2019, and down from March to April.  That makes sense since completed sales lag 30-45 days from contract initiation.  Backtrack and that puts us in the beginnings of the shelter in place orders.  
  • Prices though?  Stable.  The median price was within $100 of the previous month.  You got that right, a C-note.  Doesn't get any closer than that. 
  • Time to sell was similar, about 7 weeks on average, but 1/2 went under contract in 5 days or less..
  • Three homes sold for more than $500,000 and only one home sold for less than $100,000. 
  • The number of homes under contract increased SIGNIFICANTLY.  There were just enough new homes coming on the market to gain SLIGHTLY for total homes for sale.  However, considering 25 of the 59 homes not under contract are new construction, there's just not much to pick from.  Especially scarce?  Homes priced under $200,000.  As of this evening, only ONE home under 200k is available for sale and not already under contract.  
  • Distressed (short sales and foreclosures) properties accounted for no 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:  Despite the issues with coronavirus, it's still a good time to be a Lebanon home seller.  The shortage of resale homes works to your advantage, and a fair number of the new construction homes are at higher price points. 

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 just getting started is the HUGE Union Village community.

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:

March 2020 Lebanon Ohio Single Family Home Report

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

 

Posted by

Serving Warren County Ohio & Adjacent Areas

 

The Liz Spear Team of RE/MAX Elite
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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Rainmaker
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Joe Manausa
Joe Manausa Real Estate - Tallahassee, FL
Tallahassee Real Estate

Thank for the hyper-local view of your market area. It is interesting to see how different parts of the Country are doing.

May 09, 2020 03:41 AM #1
Rainmaker
147,452
Joseph Doohan
Joseph Doohan - Las Vegas, NV
I offer business strategy advice for realtors

Thank you for taking the time to keep us informed and up to date. Wishing you a great weekend ahead! stay safe!

May 09, 2020 03:48 AM #2
Rainmaker
1,906,716
Michael J. Perry
KW Elite - Lancaster, PA
Lancaster, PA Relo Specialist

Well that is the Question ! But I bet that Liz and Bill Spear know the answer ! 

 

Text them now for your updated Market Value  !

May 09, 2020 04:42 AM #3
Rainmaker
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Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Good morning Bill. Slower but not stopped! Expect this will continue for a while. Enjoy your day!

May 09, 2020 04:51 AM #4
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