Is Lebanon, OR a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 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, OR
How much do homes in Lebanon, OR cost?
Median Sold Price
$379,000
$261/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Lebanon have sold for 3.8% more than they did a year ago.
Summary: The median home sold price in Lebanon was $379,000 in April 2024, up 3.8% from last year, and the median price per square foot was $261.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $210K | N/A |
| 2 Bedrooms | $299.9K | $307.1K | +2.4% |
| 3 Bedrooms | $365K | $380K | +4.1% |
| 4 Bedrooms | $415K | $420K | +1.2% |
| 5+ Bedrooms | $465K | $722.5K | +55.4% |
Summary: Lebanon housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 2.4%, 3 bedroom homes increased by 4.1%, 4 bedroom homes increased by 1.2%, and 5+ bedroom homes increased by 55.4%.
Housing Supply in Lebanon, OR
How many homes are available in Lebanon, OR?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 60 | 70 | +16.7% |
Summary: The Lebanon real estate market had 70 homes for sale in April 2024, a 16.7% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 9 | 11 | +22.2% |
| 3 Bedrooms | 35 | 38 | +8.6% |
| 4 Bedrooms | 11 | 14 | +27.3% |
| 5+ Bedrooms | 5 | 6 | +20.0% |
Summary: The Lebanon housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 22.2%, 3 bedroom homes increased by 8.6%, 4 bedroom homes increased by 27.3%, and 5+ bedroom homes increased by 20%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 9 | 15 | +66.7% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lebanon, you could pay more than the asking price. 46.7% of homes here sold above asking price last month.
Summary: A total of 15 homes were sold or pending in Lebanon in April 2024, up by 66.7% month-over-month. Of the 15 sold homes, 40% were sold under asking, 13% were sold at asking, and 47% were sold over asking.
Days on Market for Lebanon, OR
How long does it take to sell a home in Lebanon, OR?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 70 Days | 57 Days | -18.0% |
Summary: Homes in Lebanon had an average of 57 days on market in Apr 2024, down by 18% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Lebanon are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 15 homes were sold in Lebanon; 47% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.
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