Is Lebanon, TN 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, TN
How much do homes in Lebanon, TN cost?
Median Sold Price
$418,268
$213/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Lebanon have sold for 11.5% more than they did a year ago.
Summary: The median home sold price in Lebanon was $418,268 in April 2024, up 11.5% from last year, and the median price per square foot was $213.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $460K | $109K | -76.3% |
| 2 Bedrooms | $287.6K | $279K | -3.0% |
| 3 Bedrooms | $343.2K | $374.5K | +9.1% |
| 4 Bedrooms | $516K | $540.8K | +4.8% |
| 5+ Bedrooms | $531.5K | $543.1K | +2.2% |
Summary: Lebanon housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 76.3%, 2 bedroom homes decreased by 3%, 3 bedroom homes increased by 9.1%, 4 bedroom homes increased by 4.8%, and 5+ bedroom homes increased by 2.2%.
Housing Supply in Lebanon, TN
How many homes are available in Lebanon, TN?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 482 | 523 | +8.5% |
Summary: The Lebanon real estate market had 523 homes for sale in April 2024, a 8.5% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 2 | 0.0% |
| 2 Bedrooms | 38 | 42 | +10.5% |
| 3 Bedrooms | 255 | 268 | +5.1% |
| 4 Bedrooms | 149 | 171 | +14.8% |
| 5+ Bedrooms | 38 | 40 | +5.3% |
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 10.5%, 3 bedroom homes increased by 5.1%, 4 bedroom homes increased by 14.8%, and 5+ bedroom homes increased by 5.3%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 113 | 96 | -15.0% |
Asking Price vs. Sold Price
39 Homes Were Sold
Under Asking
42 Homes Were Sold
At Asking
14 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lebanon, expect to pay close to the asking price. 44.2% of homes here sold near the asking price last month.
Summary: A total of 96 homes were sold or pending in Lebanon in April 2024, down by 15.0% month-over-month. Of the 95 sold homes, 41% were sold under asking, 44% were sold at asking, and 15% were sold over asking.
Days on Market for Lebanon, TN
How long does it take to sell a home in Lebanon, TN?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 35 Days | 26 Days | -25.7% |
Summary: Homes in Lebanon had an average of 26 days on market in Apr 2024, down by 25.7% compared to last year.
Breakdown of Home Sale Times
72 Homes Were Sold
Under 30 Days
16 Homes Were Sold
In 30 - 90 Days
8 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Lebanon are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 96 homes were sold in Lebanon; 75% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.
Listings courtesy of RealTracs Middle Tennessee Regional MLS as distributed by MLS GRID.
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