What's My Lebanon Ohio Home Worth? September 2015
When you read the stats below your first take might be "Who pulled the rug out from under the Lebanon Ohio real estate market??". Compared to August, September just doesn't look great at all. HOWEVER, a note of caution, August was an abnormally STRONG month and when you actually compare September to Septembers of past years you'll see it was actually a typical month. And couple that with the shelves being cleaned out with 7 of 35 sales foreclosed properties and the numbers will start to make even more sense. As they say on the Internet "Stay Calm and Trust Your Real Estate Agent". What, they DON'T say that? Well they SHOULD!!! We have no incentive to steer you wrong, so let's move into the Joe Friday section and provide you the facts that support our take on the Lebanon market.
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, first up, completed sales!
Next is the Lebanon median price summary chart.
Lebanon 45036 Single Family Home Category Data Summary:
Homes Sold: 35 (7 Bank/Government Owned, 0 Short Sale) DOWN 18
Average Price: $175,2640 DOWN $48k
Median Price: $165,000 DOWN $45k
Days on Market Average: 54 DOWN 53
Homes Active 10/6/15: 146 DOWN 22
Homes Pending 10/6/15: 68 DOWN 2
Sales/List %: 97.2% DOWN .6%
Most Expensive Home Sold: $460,000
Least Expensive Home Sold: $42,700
So what are the key takeaways from this month's numbers?
- As we said earlier, DON'T panic!!! YES, the average price dropped, the median price dropped too, and neither by just a little bit. But take a look at the two charts and what do you see? Compare the Septembers past and you'll see that the number of sales is VERY consistent and so is the median price. So again, just another typical September for the Lebanon Ohio market.
- More good news? The number of homes under contract barely dropped, and homes sold MUCH faster compared to August.
- There was a heavy concentration of foreclosed homes sold this month, comprising 7 of the 35. That's 20%, WAY above the recent county average. Four homes sold below $100k and 3 of those were foreclosed. Another 4 foreclosed homes sold and those were below $200k. So basically you've got a chunk of homes dragging values down. The good news? They're gone. Of the homes not under contract, there's only ONE foreclosure left and TWO short sales. Out of 146 homes not under contract, that's a VERY low level.
- Only 4 of the 35 sold above $300k and only ONE sold above $400k.
The number of homes for sale decreased and that's fairly typical for this time of year. Sellers start to think homes DON'T sell this time of year, but as you can tell by the number of homes under contract, buyers ARE still out there!
So what does this mean to you as a Lebanon single family home owner?
Yes, we're not at the summer peaks, but we're also not in the January/February doldrums. For the next few months you can still expect about 30 homes a month to sell. YOUR home could be one of that number if your home is priced and marketed properly.
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: Your selection continues to drop, with only 146 homes for sale (not counting new construction that can be ordered to specifications). 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. 68 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 now almost nonexistent after September's sell off.
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
Search Homes: Http://WarrenCountyOhioRealEstate.com
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