Warren County Ohio Real Estate News and Observations: What's My Lebanon Ohio Home Worth? August 2018 Update

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

A bit of a mixed month for Lebanon Ohio real estate sales, but once you understand the context you'll see there's nothing to worry about!  Read below to get 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:  43 (1 Bank/Government Owned, 0 Short Sale, 5 New Construction) DOWN 10

Average Price:  $248,286 DOWN $67k

Median Price:  $243,000 UP $23k 

Days on Market Average:  31 DOWN 27 (Median 9 days)

Homes Active 9/7/18  97 SAME

Homes Pending 9/7/18: 59 DOWN 6

Sales/List %:  98.8%  DOWN .6%

Most Expensive Home Sold:  $666,700

Least Expensive Home Sold:  $81,000

 

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

  • Seems like a mixed signal on prices doesn't it?  A HUGE drop in average prices, yet median prices went up quite a bit?  It's basically a mix issue this month, only 7 homes sold for more than $300,000, but of the rest only 1 sold below $100,000, so there was actually a high concentration in the high 200s, thus the median price.  And the scarcity of luxury homes sold after that burst of Aberlin Springs sold last month took the average price down.  Overall, there's nothing to worry about with the Lebanon Ohio real estate market.  Prices are still great!   
  • Total sales for August was actually on the lower part of the range for an August when comparing to recent years.    
  • Time to sell actually decreased, as did the number of homes under contract. 
  • New construction sales accounted for 5 of the 43 sales and 20 of the 97 for sale.
  • Time to sell on average is now at a month.
  • Distressed properties continue to be a very small segment of the market. One of the 43 sales was a foreclosure, and of the 97 homes on market two are 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.

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:

July 2018 Lebanon Ohio Single Family Home Report

June 2018 Lebanon Ohio Single Family Home Report

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

 

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 • September 08 2018 02:20AM

Comments

Appreciate you keeping us posted and up to date. Have a great weekend!

Posted by Jeremy K. Frost, Associate Broker, CNE, CRS, ePro, PSA (Keller Williams Realty) 17 days ago

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