Is Lebanon Township, 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 Township has remained a Seller's Market.
Key Takeaway
Lebanon Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Lebanon Township, IL
How much do homes in Lebanon Township, IL cost?
Median Sold Price
$229,000
$110/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Lebanon Township have sold for 38.8% more than they did a year ago.
Summary: The median home sold price in Lebanon Township was $229,000 in March 2024, up 38.8% 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 | $23K | $115K | +400.0% |
| 2 Bedrooms | $125K | $128K | +2.4% |
| 3 Bedrooms | $159.9K | $242.5K | +51.7% |
| 4 Bedrooms | $242K | $277.4K | +14.6% |
| 5+ Bedrooms | $658.4K | $435K | -33.9% |
Summary: Lebanon Township housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 400%, 2 bedroom homes increased by 2.4%, 3 bedroom homes increased by 51.7%, 4 bedroom homes increased by 14.6%, and 5+ bedroom homes decreased by 33.9%.
Median Sold Price Compared To Nearby Cities
| Lebanon Township | $165K | $229K | +38.8% |
| Lebanon | $180K | $229K | +27.2% |
| Saint Jacob Township | $237K | $220K | -7.2% |
| Sugar Creek Township | $251K | $228.7K | -8.9% |
Housing Supply in Lebanon Township, IL
How many homes are available in Lebanon Township, IL?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 9 | 15 | +66.7% |
Summary: The Lebanon Township 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 Township 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
Key Takeaway
If you're buying a home in 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 4 homes were sold or pending in Lebanon Township 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 Township, IL
How long does it take to sell a home in Lebanon Township, IL?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 88 Days | 19 Days | -78.3% |
Summary: Homes in Lebanon Township 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
Key Takeaway
Many homes in Lebanon Township are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 4 homes were sold in Lebanon Township; 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.
Listings courtesy of Mid America Regional Information System as distributed by MLS GRID.