Is Lebanon, IN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Lebanon is a seller's market

Buyer's
Market

Difference Since March 2023

Since last year, Lebanon has remained a Seller's Market.

Key Takeaway

Lebanon is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Lebanon, IN

How much do homes in Lebanon, IN cost?

Median Sold Price

$266,000

$157/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

+$46,500(+21.2%)

Key Takeaway

Homes in Lebanon have sold for 21.2% more than they did a year ago.

Summary: The median home sold price in Lebanon was $266,000 in March 2024, up 21.2% from last year, and the median price per square foot was $157.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 -$273.7K
N/A
2 $172K$184K
+7.0%
3 $220K$250K
+13.6%
4 $259K$325K
+25.5%
5+ $369K$399.5K
+8.3%

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 increased by 7%, 3 bedroom homes increased by 13.6%, 4 bedroom homes increased by 25.5%, and 5+ bedroom homes increased by 8.3%.

Median Sold Price Compared To Nearby Cities

Lebanon
+21.2%
Center Township
+11.8%
Worth Township
-0.6%
Perry Township
-17.6%

Housing Supply in Lebanon, IN

How many homes are available in Lebanon, IN?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
7883+6.4%

Summary: The Lebanon real estate market had 83 homes for sale in March 2024, a 6.4% increase compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 11
0.0%
2 87
-12.5%
3 4245
+7.1%
4 2125
+19.0%
5+ 65
-16.7%

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 decreased by 12.5%, 3 bedroom homes increased by 7.1%, 4 bedroom homes increased by 19%, and 5+ bedroom homes decreased by 16.7%.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
1930+57.9%

Asking Price vs. Sold Price

19 Homes Were Sold
Under Asking

8 Homes Were Sold
At Asking

3 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Lebanon, you may be able to get a good deal. 63.3% of homes here sold below asking price last month.

Summary: A total of 30 homes were sold or pending in Lebanon in March 2024, up by 57.9% month-over-month. Of the 30 sold homes, 63% were sold under asking, 27% were sold at asking, and 10% were sold over asking.

Days on Market for Lebanon, IN

How long does it take to sell a home in Lebanon, IN?

Average Sale Time

Mar 2023Mar 2024CHANGE
43 Days40 Days-7.9%

Summary: Homes in Lebanon had an average of 40 days on market in Mar 2024, down by 7.9% compared to last year.

Breakdown of Home Sale Times

16 Homes Were Sold
Under 30 Days

10 Homes Were Sold
In 30 - 90 Days

3 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Lebanon are selling fast, if you're buying plan to act quickly.

Summary: During March 2024, 30 homes were sold in Lebanon; 53% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 10% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 27 Days Ago

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