Is South Lebanon Township, PA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, South Lebanon Township has remained a Seller's Market.
Key Takeaway
South Lebanon Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in South Lebanon Township, PA
How much do homes in South Lebanon Township, PA cost?
Median Sold Price
$288,000
$167/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in South Lebanon Township have sold for 2.9% more than they did a year ago.
Summary: The median home sold price in South Lebanon Township was $288,000 in May 2024, up 2.9% from last year, and the median price per square foot was $167.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $96.5K | N/A |
| 2 Bedrooms | $161.5K | $259.5K | +60.7% |
| 3 Bedrooms | $271.5K | $270K | -0.6% |
| 4 Bedrooms | $455K | $411K | -9.7% |
| 5+ Bedrooms | $600K | - | N/A |
Summary: South Lebanon Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 60.7%, 3 bedroom homes decreased by 0.6%, 4 bedroom homes decreased by 9.7%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Lebanon | $194.9K | $234.6K | +20.3% |
| Cornwall | $361.5K | $416.5K | +15.2% |
| North Lebanon Township | $275K | $310K | +12.7% |
| South Lebanon Township | $280K | $288K | +2.9% |
Housing Supply in South Lebanon Township, PA
How many homes are available in South Lebanon Township, PA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 29 | 28 | -3.4% |
Summary: The South Lebanon Township real estate market had 28 homes for sale in May 2024, a 3.4% decrease compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 2 | 4 | +100.0% |
| 3 Bedrooms | 18 | 17 | -5.6% |
| 4 Bedrooms | 9 | 7 | -22.2% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The South 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 100%, 3 bedroom homes decreased by 5.6%, 4 bedroom homes decreased by 22.2%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 8 | 6 | -25.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in South Lebanon Township, expect to pay close to the asking price. 50% of homes here sold near the asking price last month.
Summary: A total of 6 homes were sold or pending in South Lebanon Township in May 2024, down by 25.0% month-over-month. Of the 6 sold homes, 0% were sold under asking, 50% were sold at asking, and 50% were sold over asking.
Days on Market for South Lebanon Township, PA
How long does it take to sell a home in South Lebanon Township, PA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 24 Days | 9 Days | -59.8% |
Summary: Homes in South Lebanon Township had an average of 9 days on market in May 2024, down by 59.8% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in South Lebanon Township are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 6 homes were sold in South Lebanon Township; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
