Warren County Ohio Real Estate News and Observations

What's My Lebanon Ohio Home Worth? June 2018 Update

We've got a tale of two cities this month.  Sales down, but prices great!  Stick with us for the full 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 Single Family Home Market Report

 

Lebanon 45036 Single Family Home Category Data Summary

Homes Sold:  40 (1 Bank/Government Owned, 0 Short Sale, 2 New Construction) DOWN 19

Average Price:  $258,252 DOWN $1k

Median Price:  $236,500 DOWN $1k 

Days on Market Average:  34 SAME (Median 3 days)

Homes Active 7/15/18  99 UP 1

Homes Pending 7/15/18: 78 UP 6

Sales/List %:  98.0%  DOWN .6%

Most Expensive Home Sold:  $555,000

Least Expensive Home Sold:  $30,000

 

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

  • It's a mixed signal month, so depending on how you want to see things, pick the glass is half empty or the glass is half full.  Or be a pragmatist, drink the half and go get a refill :)
  • On the positive side, take a look at the median price chart.  Notice 2018 is on a roll for outperforming 2010-2017.
  • On the not so positive side, total sales of 40 seems low.  However, take a look at the month before.  May was abnormally high.  Basically some June sales were "stolen" by May.
  • The number of homes under contract is still great.  
  • Prices were almost the same as May, moving down approximately $1,000 on median and eaverage.   
  • Prices of homes sold had one home below $100,000 and 11 above $300,000.
  • New construction sales accounted for 2 of the 40 sales and 28 of the 99 for sale.
  • Time to sell on average is still at 5 weeks, although half are under contract in 3 days or less.
  • Distressed properties continue to be a very small segment of the market. One of the 40 sales was a foreclosure, and of the 99 homes on market 1 is bank owned and none are a short sale.     

Lebanon Ohio homes for sale

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

No change from past months.  If a buyer MUST buy, the relatively low inventory works to your advantage.  That doesn't mean a home that is in poor condition or not priced right will still sell.  

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 here either.   Watch for new homes for sale that fit your needs, but you STILL need to ACT quickly despite the longer time on market for most sellers. When half of the homes sold are under contract in 3 days, it's best NOT to wait for Day 2 or 3 to go see a new home on the market.  It's truly a "you snooze, you lose" kind of 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 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:

May 2018 Lebanon Ohio Single Family Home Report

April 2018 Lebanon Ohio Single Family Home Report

March 2018 Lebanon Ohio Single Family Home Report

February 2018 Lebanon Ohio Single Family Home Report

January 2018 Lebanon Ohio Single Family Home Report

December 2017 Lebanon Ohio Single Family Home Report

November 2017 Lebanon Ohio Single Family Home Report

October 2017 Lebanon Ohio Single Family Home Report

September 2017 Lebanon Ohio Single Family Home Report

August 2017 Lebanon Ohio Single Family Home Report

July 2017 Lebanon Ohio Single Family Home Report

June 2017 Lebanon Ohio Single Family Home Report

May 2017 Lebanon Ohio Single Family Home Report

April 2017 Lebanon Ohio Single Family Home Report

March 2017 Lebanon Ohio Single Family Home Report

February 2017 Lebanon Ohio Single Family Home Report

January 2017 Lebanon Ohio Single Family Home Report

 

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:  Http://WarrenCountyOhioRealEstate.com

Our Website:  www.LizTour.com

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Comment balloon 1 commentLiz and Bill Spear • July 16 2018 03:06AM
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