Is Lebanon, MO 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 August 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, MO

How much do homes in Lebanon, MO cost?

Median Sold Price

$215,450

$186/sqft

Based on all homes sold in the last 12 months.

Difference Since August 2023

+$35,450(+19.7%)

Key Takeaway

Homes in Lebanon have sold for 19.7% more than they did a year ago.

Summary: The median home sold price in Lebanon was $215,450 in August 2024, up 19.7% from last year, and the median price per square foot was $186.

Median Sold Price By Bedroom Count

# BEDSAug 2023Aug 2024CHANGE
1 $116.8K$91K
-22.1%
2 $137.5K$165K
+20.0%
3 $170K$212.7K
+25.1%
4 $275K$327K
+18.9%
5+ $334.9K$494.9K
+47.8%

Summary: Lebanon housing prices by bedroom type for August 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 22.1%, 2 bedroom homes increased by 20%, 3 bedroom homes increased by 25.1%, 4 bedroom homes increased by 18.9%, and 5+ bedroom homes increased by 47.8%.

Median Sold Price Compared To Nearby Cities

Lebanon
+19.7%
Lebanon Township
+19.7%

Housing Supply in Lebanon, MO

How many homes are available in Lebanon, MO?

Number of Homes For Sale

Jul 2024Aug 2024CHANGE
192218+13.5%

Summary: The Lebanon real estate market had 218 homes for sale in August 2024, a 13.5% increase compared to July 2024.

Homes For Sale By Bedroom Count

# BEDSJul 2024Aug 2024CHANGE
1 68
+33.3%
2 3838
0.0%
3 97112
+15.5%
4 3143
+38.7%
5+ 2017
-15.0%

Summary: The Lebanon housing inventory by bedroom type for August 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 33.3%, 2 bedroom homes remained the same, 3 bedroom homes increased by 15.5%, 4 bedroom homes increased by 38.7%, and 5+ bedroom homes decreased by 15%.

Number of Homes Sold

Jul 2024Aug 2024CHANGE
3443+26.5%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

2 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Lebanon, expect to pay close to the asking price. 50% of homes here sold near the asking price last month.

Summary: A total of 43 homes were sold or pending in Lebanon in August 2024, up by 26.5% month-over-month. Of the 4 sold homes, 25% were sold under asking, 50% were sold at asking, and 25% were sold over asking.

Days on Market for Lebanon, MO

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

Average Sale Time

Aug 2023Aug 2024CHANGE
53 Days55 Days+5.3%

Summary: Homes in Lebanon had an average of 55 days on market in Aug 2024, up by 5.3% compared to last year.

Breakdown of Home Sale Times

15 Homes Were Sold
Under 30 Days

22 Homes Were Sold
In 30 - 90 Days

6 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in Lebanon has remained consistent over time.

Summary: During August 2024, 43 homes were sold in Lebanon; 35% of homes were sold within 30 days, 51% of homes were sold within 30 to 90 days, and 14% 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 20 Days Ago

Newest Listings in Lebanon, MO

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