Is Lebanon, IN 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 has remained a Seller's Market.
Housing Prices in Lebanon, IN
How much do homes in Lebanon, IN cost?
Median Sold Price
$265,500
$159/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Lebanon was $265,500 in May 2024, up 18.3% from last year, and the median price per square foot was $159.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $273.7K | N/A |
2 Bedrooms | $174.9K | $186.5K | +6.6% |
3 Bedrooms | $224K | $253K | +12.9% |
4 Bedrooms | $265K | $357.7K | +35.0% |
5+ Bedrooms | $369K | $399.1K | +8.2% |
Summary: Lebanon housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 6.6%, 3 bedroom homes increased by 12.9%, 4 bedroom homes increased by 35%, and 5+ bedroom homes increased by 8.2%.
Median Sold Price Compared To Nearby Cities
Lebanon | $224.4K | $265.5K | +18.3% |
Center Township | $225K | $254K | +12.9% |
Worth Township | $327.2K | $330K | +0.8% |
Perry Township | $414.9K | $340K | -18.1% |
Housing Supply in Lebanon, IN
How many homes are available in Lebanon, IN?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
93 | 80 | -14.0% |
Summary: The Lebanon real estate market had 80 homes for sale in May 2024, a 14.0% decrease 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 | 11 | 10 | -9.1% |
3 Bedrooms | 49 | 38 | -22.4% |
4 Bedrooms | 27 | 26 | -3.7% |
5+ Bedrooms | 6 | 6 | 0.0% |
Summary: The Lebanon 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 decreased by 9.1%, 3 bedroom homes decreased by 22.4%, 4 bedroom homes decreased by 3.7%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
29 | 26 | -10.3% |
Asking Price vs. Sold Price
11 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
9 Homes Were Sold
Over Asking
Summary: A total of 26 homes were sold or pending in Lebanon in May 2024, down by 10.3% month-over-month. Of the 26 sold homes, 42% were sold under asking, 23% were sold at asking, and 35% 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
May 2023 | May 2024 | CHANGE |
---|---|---|
41 Days | 25 Days | -39.3% |
Summary: Homes in Lebanon had an average of 25 days on market in May 2024, down by 39.3% compared to last year.
Breakdown of Home Sale Times
20 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During May 2024, 26 homes were sold in Lebanon; 77% of homes were sold within 30 days, 8% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.