Is Lebanon, OH 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, OH
How much do homes in Lebanon, OH cost?
Median Sold Price
$367,450
$180/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Lebanon have sold for 17.6% more than they did a year ago.
Summary: The median home sold price in Lebanon was $367,450 in April 2024, up 17.6% from last year, and the median price per square foot was $180.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $197K | $257.5K | +30.7% |
| 3 Bedrooms | $295K | $320K | +8.5% |
| 4 Bedrooms | $409K | $526K | +28.6% |
| 5+ Bedrooms | $552.5K | $645K | +16.7% |
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 30.7%, 3 bedroom homes increased by 8.5%, 4 bedroom homes increased by 28.6%, and 5+ bedroom homes increased by 16.7%.
Median Sold Price Compared To Nearby Cities
| South Lebanon | $170K | $345K | +102.9% |
| Lebanon | $312.5K | $367.4K | +17.6% |
| Union Township | $270K | $310K | +14.8% |
| Turtlecreek Township | $411.5K | $415K | +0.9% |
Housing Supply in Lebanon, OH
How many homes are available in Lebanon, OH?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 58 | 70 | +20.7% |
Summary: The Lebanon real estate market had 70 homes for sale in April 2024, a 20.7% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 6 | 7 | +16.7% |
| 3 Bedrooms | 23 | 23 | 0.0% |
| 4 Bedrooms | 20 | 29 | +45.0% |
| 5+ Bedrooms | 9 | 11 | +22.2% |
Summary: The Lebanon housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 16.7%, 3 bedroom homes remained the same, 4 bedroom homes increased by 45%, and 5+ bedroom homes increased by 22.2%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 15 | 18 | +20.0% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lebanon, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 18 homes were sold or pending in Lebanon in April 2024, up by 20.0% month-over-month. Of the 18 sold homes, 50% were sold under asking, 28% were sold at asking, and 22% were sold over asking.
Days on Market for Lebanon, OH
How long does it take to sell a home in Lebanon, OH?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 49 Days | 52 Days | +5.5% |
Summary: Homes in Lebanon had an average of 52 days on market in Apr 2024, up by 5.5% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
13 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Lebanon has remained consistent over time.
Summary: During April 2024, 18 homes were sold in Lebanon; 17% of homes were sold within 30 days, 72% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.
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The information is being provided by Columbus and Central Ohio Regional Multiple Listing Service. Information deemed reliable but not guaranteed. Information is provided for consumers' personal, non-commercial use, and may not be used for any purpose other than the identification of potential properties for purchase.