Is Lebanon, OH 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.
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
$382,750
$179/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Lebanon have sold for 6.3% more than they did a year ago.
Summary: The median home sold price in Lebanon was $382,750 in May 2024, up 6.3% from last year, and the median price per square foot was $179.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $204K | $265K | +29.9% |
| 3 Bedrooms | $300K | $326K | +8.7% |
| 4 Bedrooms | $431.3K | $487.4K | +13.0% |
| 5+ Bedrooms | $525K | $718.7K | +36.9% |
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 29.9%, 3 bedroom homes increased by 8.7%, 4 bedroom homes increased by 13%, and 5+ bedroom homes increased by 36.9%.
Median Sold Price Compared To Nearby Cities
| Lebanon | $360K | $382.7K | +6.3% |
| Union Township | $293K | $310K | +5.8% |
| Turtlecreek Township | $409.5K | $430K | +5.0% |
Housing Supply in Lebanon, OH
How many homes are available in Lebanon, OH?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 67 | 67 | 0.0% |
Summary: The Lebanon real estate market had 67 homes for sale in May 2024, the same as April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 7 | 5 | -28.6% |
| 3 Bedrooms | 20 | 24 | +20.0% |
| 4 Bedrooms | 28 | 27 | -3.6% |
| 5+ Bedrooms | 12 | 11 | -8.3% |
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 28.6%, 3 bedroom homes increased by 20%, 4 bedroom homes decreased by 3.6%, and 5+ bedroom homes decreased by 8.3%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 19 | 18 | -5.3% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lebanon, you may be able to get a good deal. 44.4% of homes here sold below asking price last month.
Summary: A total of 18 homes were sold or pending in Lebanon in May 2024, down by 5.3% month-over-month. Of the 18 sold homes, 44% were sold under asking, 28% were sold at asking, and 28% 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
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 46 Days | 49 Days | +7.3% |
Summary: Homes in Lebanon had an average of 49 days on market in May 2024, up by 7.3% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
13 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Lebanon has remained consistent over time.
Summary: During May 2024, 18 homes were sold in Lebanon; 22% of homes were sold within 30 days, 72% of homes were sold within 30 to 90 days, and 6% 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.