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 May 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

$265,500

$159/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$41,050(+18.3%)

Key Takeaway

Homes in Lebanon have sold for 18.3% more than they did a year ago.

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

# BEDSMay 2023May 2024CHANGE
1 -$273.7K
N/A
2 $174.9K$186.5K
+6.6%
3 $224K$253K
+12.9%
4 $265K$357.7K
+35.0%
5+ $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
+18.3%
Center Township
+12.9%
Worth Township
+0.8%
Perry Township
-18.1%

Housing Supply in Lebanon, IN

How many homes are available in Lebanon, IN?

Number of Homes For Sale

Apr 2024May 2024CHANGE
9380-14.0%

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

# BEDSApr 2024May 2024CHANGE
1 00
0.0%
2 1110
-9.1%
3 4938
-22.4%
4 2726
-3.7%
5+ 66
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 2024May 2024CHANGE
2926-10.3%

Asking Price vs. Sold Price

11 Homes Were Sold
Under Asking

6 Homes Were Sold
At Asking

9 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Lebanon, you may be able to get a good deal. 42.3% of homes here sold below asking price last month.

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 2023May 2024CHANGE
41 Days25 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

Breakdown of Home Sale Times

Key Takeaway

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

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.

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

Report Updated 1 Day Ago

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