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Warren County Ohio Real Estate News and Observations

What's My Lebanon Ohio Home Worth? April 2015

What's My Lebanon Ohio Home Worth?  April 2015

Spring is finally in full season.  Temps in the 80s, and even saw my first hummingbird of the season early this morning!  The real estate numbers are a little out of whack for April, we'll explain why if you stick with us for the 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!

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:  29   (2 Bank/Government Owned, 0 Short Sale) DOWN 13

Average Price:  $227,495 UP $45.5k

Median Price:  $184,000  UP $20k 

Days on Market Average:  90  DOWN 19

Homes Active 5/6/15:  164 UP 11

Homes Pending 5/6/15: 96  UP 24

Sales/List %:  96.3%  UP .1%

Most Expensive Home Sold:  $870,000

Least Expensive Home Sold:  $37,000

 

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

  • Not quite the sales total you'd expect for April, but look back to March and see a burst above the norm there.  Perhaps some robbing Peter to pay Paul at work?  Bottom line, those 96 homes under contract point to a REALLY solid May for completed sales and an accurate indicator that buyer demand for Lebanon homes is alive and well!  Prices (both average and median) also increased, but that 870k sale will have more than it's fair share on the average price spike.  Don't assume all homes are suddenly worth a lot more!
  • Of the 29 homes sold, only two were foreclosed.  No short sales completed in April.  Two of the 29 homes sold BELOW $100,000 and  5 homes sold above $300,000. 
  • The trend from last month continues as the number of homes for sale DECREASED and the number of homes under contract INCREASED.  That means a tighter supply of homes for home seeking buyers.  Tight supply typically means higher prices too.
  • Of the 164 homes for sale not under contract, only 12 are foreclosed or short sales.
  • No change in the Lebanon luxury market, STILL a tough segment of the market.  Only one home sold above $500k.  The competition from Mason and Springboro make it tough to be a Lebanon luxury home seller. 

Lebanon Ohio homes for sale

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

It's REALLY good to be you right now if your home is in good shape!  164 homes for sale may SOUND like a lot, but not really.  Not once you start splitting out by style, community, basement or none, garage spaces, bedrooms, etc.  It doesn't take long before a buyer may be down to just a handful of homes that fit them, and nothing guarantees ANY of them will be a great match.  So that's where more homes for sale are needed!  You can see they're selling faster (3 months on average), MUCH better than the days on market used to be before the market swung back into full action. 

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 513-265-3004 or 513-520-5305. 

 

So what does this mean to you as a potential Lebanon home buyer? 

NO REASON TO CHANGE FROM LAST MONTH:  You still have a fairly limited selection of homes to pick from.  Buyers have plenty of competition for the best homes and asking the seller to take too low a price or asking for extensive concessions may keep you from becoming a homeowner.  96 homes under contract should clearly tell you your competition is out there and doing the right things to claim a home as theirs!

The selection of foreclosed/short sale homes is shrinking, and 12 total foreclosed or short sale homes listed as Active in Cincinnati MLS severely limits your choices if that category is ALL you're interested in. 

When you're considering buying a Lebanon home, please contact us 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 2015 Lebanon Single Family Home Report

February 2015 Lebanon Single Family Home Report

January 2015 Lebanon Single Family Home Report

December 2014 Lebanon Single Family Home Report

November 2014 Lebanon Single Family Home Report

October 2014 Lebanon Single Family Home Report

September 2014 Lebanon Single Family Home Report

August 2014 Lebanon Single Family Home Report

July 2014 Lebanon Single Family Home Report

June 2014 Lebanon Single Family Home Market Report

May 2014 Lebanon Single Family Home Market Report

April 2014 Lebanon Single Family Home Market Report

March 2014 Lebanon Single Family Home Market Report

February 2014 Lebanon Single Family Home Market Report

January 2014 Lebanon Single Family Home Market Report

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!

EHO Two locations: Lebanon & Mason, OH
Direct:  513-520-5305
Direct #2: 513-265-3004     
Fax: 866-302-8418

MailTo:  LizSpear@Go-Concepts.com

Our Website:  www.LizTour.com

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OUR SERVICE AREA:


View Liz Spear Team of RE/MAX Elite Primary Service Area in a larger map

3 commentsLiz and Bill Spear • May 06 2015 12:58PM
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