2011 Lebanon Ohio 45036 Condominium Market Report
First of all, you may be thinking, "Lebanon has condos?"! And it's true, Lebanon isn't the hotbed of condo activity like Mason, but Lebanon does have a growing condo market! There's a mix of older condos and duplexes, along with plenty of new construction condos also. In most cases, these condos aren't located within Lebanon's city limits but within the townships on the outskirts (so no city tax for their residents).
There are two primary condo developments accounting for the bulk of the Lebanon condo market: Fairway Crossings and Ironwood at Shaker Run. Both communities are primarily 2 bedroom, 2 bath, but other than that they don't share much in common.
The Fairway Crossings condos are mostly apartment style homes and typically well below $100k in price and located just west of Lebanon off Route 63.
Ironwood at Shaker Run is new construction in a pool/golf community located to the northwest off Greentree Rd and prices range from low $100k's to mid $200k's. Fischer's Ironwood at Shaker Run condo community offers a variety of floor plans and is VERY busy! Sales are quickly filling up one building and moving into the next!
And just in case you're thinking Fischer might offer a better deal if you go direct, they don't. Like most major builders, their policy is to NOT discount but instead offer the same pricing whether or not an agent is involved. And since our cost is already built in to your price, why not actually have a professional to help advise?
To see all the condos currently listed in Cincinnati MLS, click Lebanon Condos for Sale.
The link is good for 30 days, after that please contact us and we'll send you the latest information. NOTE: Please disregard the mapping error for the Ironwood street condos, they're shown in Fairborn on another Ironwood Drive! The Ironwood condos are actually located next to the Double Eagle address condos.
Okay, on to the analysis section of the Lebanon condo market! Because the market is smaller, we're not going to provide a month by month chart, but just a top line overview.
2011: 36 (NICE increase!)
2011: $102,000 (not a typo, steady price!)
Distressed properties sold (included in above numbers)
2010: 2 Foreclosures, 1 Short Sale
2011: 8 Foreclosures, 0 Short Sale
Now you may think how can Lebanon condo prices hold steady while the number of foreclosures increased? The bulk of the foreclosures happened in Fairway Crossings at a lower price point. However, at the same time, Fischer Homes started their Ironwood at Shaker Run new construction at a price point higher than the $102k median price for sales. The new construction sales offset the decreased foreclosure values.
Overall, if you're looking to own a Warren County condo, but Mason condos are beyond your price point, you might want to look north a few miles! If we can answer any questions or assist you in buying or selling a Lebanon condo, we'd be happy to help! Just give us a call!
Serving Warren County's residential real estate needs,
Liz and Bill aka BLiz
REALTORS(S) Serving Warren County Ohio & Adjacent Areas
The Liz Spear Team of RE/MAX Elite
Elizabeth & William Spear
Ask for us by name if you visit the office!
Two locations: Lebanon & Mason, OH
Direct #2: 513-265-3004
Our Website: www.LizTour.com
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