Is Lebanon Township, IL 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, 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
$198,000
$114/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Lebanon Township have sold for 16.5% more than they did a year ago.
Summary: The median home sold price in Lebanon Township was $198,000 in May 2024, up 16.5% from last year, and the median price per square foot was $114.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $23K | $115K | +400.0% |
| 2 Bedrooms | $127.5K | $126K | -1.2% |
| 3 Bedrooms | $152.5K | $240K | +57.4% |
| 4 Bedrooms | $260.9K | $330K | +26.5% |
| 5+ Bedrooms | $670K | $425K | -36.6% |
Summary: Lebanon Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 400%, 2 bedroom homes decreased by 1.2%, 3 bedroom homes increased by 57.4%, 4 bedroom homes increased by 26.5%, and 5+ bedroom homes decreased by 36.6%.
Median Sold Price Compared To Nearby Cities
| Lebanon Township | $170K | $198K | +16.5% |
| Lebanon | $180K | $185K | +2.8% |
| Saint Jacob Township | $240.5K | $227.6K | -5.4% |
| Sugar Creek Township | $256K | $206.2K | -19.4% |
Housing Supply in Lebanon Township, IL
How many homes are available in Lebanon Township, IL?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 15 | 21 | +40.0% |
Summary: The Lebanon Township real estate market had 21 homes for sale in May 2024, a 40.0% increase 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 | 5 | 7 | +40.0% |
| 3 Bedrooms | 8 | 10 | +25.0% |
| 4 Bedrooms | 2 | 3 | +50.0% |
| 5+ Bedrooms | 0 | 1 | +100.0% |
Summary: The 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 40%, 3 bedroom homes increased by 25%, 4 bedroom homes increased by 50%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 3 | 6 | +100.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Lebanon Township, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.
Summary: A total of 6 homes were sold or pending in Lebanon Township in May 2024, up by 100.0% month-over-month. Of the 6 sold homes, 67% were sold under asking, 17% were sold at asking, and 17% 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
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 55 Days | 25 Days | -55.0% |
Summary: Homes in Lebanon Township had an average of 25 days on market in May 2024, down by 55% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
2 Homes Were 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 May 2024, 6 homes were sold in Lebanon Township; 67% of homes were sold within 30 days, 33% 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.