Is Lebanon Township, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Lebanon Township was a Seller's Market.
Key Takeaway
Lebanon Township is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Lebanon Township, NJ
How much do homes in Lebanon Township, NJ cost?
Median Sold Price
$617,500
$260/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Lebanon Township have sold for 9.3% more than they did a year ago.
Summary: The median home sold price in Lebanon Township was $617,500 in May 2024, up 9.3% from last year, and the median price per square foot was $260.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $195K | $330K | +69.2% |
| 2 Bedrooms | $294.5K | $352.5K | +19.7% |
| 3 Bedrooms | $500K | $479.8K | -4.0% |
| 4 Bedrooms | $690K | $768K | +11.3% |
| 5+ Bedrooms | $749K | $990K | +32.2% |
Summary: Lebanon Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 69.2%, 2 bedroom homes increased by 19.7%, 3 bedroom homes decreased by 4%, 4 bedroom homes increased by 11.3%, and 5+ bedroom homes increased by 32.2%.
Median Sold Price Compared To Nearby Cities
| Glen Gardner | $275K | $400K | +45.5% |
| Lebanon Township | $565K | $617.5K | +9.3% |
| High Bridge | $320K | $340K | +6.3% |
| Califon | $650K | $670K | +3.1% |
| Port Murray | $434K | $390K | -10.1% |
Housing Supply in Lebanon Township, NJ
How many homes are available in Lebanon Township, NJ?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 67 | 73 | +9.0% |
Summary: The Lebanon Township real estate market had 73 homes for sale in May 2024, a 9.0% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 3 | 0.0% |
| 2 Bedrooms | 6 | 9 | +50.0% |
| 3 Bedrooms | 15 | 16 | +6.7% |
| 4 Bedrooms | 34 | 36 | +5.9% |
| 5+ Bedrooms | 9 | 9 | 0.0% |
Summary: The Lebanon Township housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 50%, 3 bedroom homes increased by 6.7%, 4 bedroom homes increased by 5.9%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 16 | 9 | -43.8% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lebanon Township, you may be able to get a good deal. 44.4% of homes here sold below asking price last month.
Summary: A total of 9 homes were sold or pending in Lebanon Township in May 2024, down by 43.8% month-over-month. Of the 9 sold homes, 44% were sold under asking, 22% were sold at asking, and 33% were sold over asking.
Days on Market for Lebanon Township, NJ
We’re sorry, we don't have information for this market at the moment
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