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.
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, a pool community of Lebanon Ohio
So on to the review!
Next is the Lebanon median price summary chart.
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.
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 $400,000 and Up
Serving Lebanon's home buyers and sellers,
Liz and Bill aka BLiz
Recent Market Reports:
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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