Is Lebanon, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Lebanon has remained a Seller's Market.
Housing Prices in Lebanon, IL
How much do homes in Lebanon, IL cost?
Median Sold Price
$229,000
$110/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Lebanon was $229,000 in March 2024, up 27.2% from last year, and the median price per square foot was $110.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $115K | N/A |
2 Bedrooms | $129.3K | $128K | -1.1% |
3 Bedrooms | $175.7K | $240K | +36.6% |
4 Bedrooms | $233.5K | $279.9K | +19.9% |
5+ Bedrooms | $675K | $435K | -35.6% |
Summary: Lebanon housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 1.1%, 3 bedroom homes increased by 36.6%, 4 bedroom homes increased by 19.9%, and 5+ bedroom homes decreased by 35.6%.
Median Sold Price Compared To Nearby Cities
Lebanon Township | $165K | $229K | +38.8% |
Lebanon | $180K | $229K | +27.2% |
O'Fallon Township | $292.9K | $297.7K | +1.6% |
Housing Supply in Lebanon, IL
How many homes are available in Lebanon, IL?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
9 | 15 | +66.7% |
Summary: The Lebanon real estate market had 15 homes for sale in March 2024, a 66.7% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 2 | 4 | +100.0% |
3 Bedrooms | 4 | 9 | +125.0% |
4 Bedrooms | 2 | 1 | -50.0% |
5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Lebanon housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 100%, 3 bedroom homes increased by 125%, 4 bedroom homes decreased by 50%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
2 | 4 | +100.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
2 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Summary: A total of 4 homes were sold or pending in Lebanon in March 2024, up by 100.0% month-over-month. Of the 4 sold homes, 25% were sold under asking, 50% were sold at asking, and 25% were sold over asking.
Days on Market for Lebanon, IL
How long does it take to sell a home in Lebanon, IL?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
88 Days | 19 Days | -78.3% |
Summary: Homes in Lebanon had an average of 19 days on market in Mar 2024, down by 78.3% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During March 2024, 4 homes were sold in Lebanon; 75% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.