Is Lebanon, MO a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Lebanon is a neutral's market

Buyer's
Market

Difference Since April 2023

At the same time last year, Lebanon was a Seller's Market.

Key Takeaway

Lebanon is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

Housing Prices in Lebanon, MO

How much do homes in Lebanon, MO cost?

Median Sold Price

$225,000

$181/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

+$47,050(+26.4%)

Key Takeaway

Homes in Lebanon have sold for 26.4% more than they did a year ago.

Summary: The median home sold price in Lebanon was $225,000 in April 2024, up 26.4% from last year, and the median price per square foot was $181.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 $85.9K$91K
+5.9%
2 $106.4K$115K
+8.0%
3 $185.4K$210K
+13.2%
4 $245.5K$325K
+32.4%
5+ $347K$518.5K
+49.4%

Summary: Lebanon housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 5.9%, 2 bedroom homes increased by 8%, 3 bedroom homes increased by 13.2%, 4 bedroom homes increased by 32.4%, and 5+ bedroom homes increased by 49.4%.

Median Sold Price Compared To Nearby Cities

Lebanon
+26.4%
Lebanon Township
+22.4%

Housing Supply in Lebanon, MO

How many homes are available in Lebanon, MO?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
144173+20.1%

Summary: The Lebanon real estate market had 173 homes for sale in April 2024, a 20.1% increase compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 24
+100.0%
2 2125
+19.0%
3 8697
+12.8%
4 2436
+50.0%
5+ 1111
0.0%

Summary: The Lebanon housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 19%, 3 bedroom homes increased by 12.8%, 4 bedroom homes increased by 50%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
2928-3.4%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

1 Home Was Sold
At Asking

0 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. 50% of homes here sold below asking price last month.

Summary: A total of 28 homes were sold or pending in Lebanon in April 2024, down by 3.4% month-over-month. Of the 2 sold homes, 50% were sold under asking, 50% were sold at asking, and 0% 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

Apr 2023Apr 2024CHANGE
53 Days65 Days+22.7%

Summary: Homes in Lebanon had an average of 65 days on market in Apr 2024, up by 22.7% compared to last year.

Breakdown of Home Sale Times

10 Homes Were Sold
Under 30 Days

12 Homes Were Sold
In 30 - 90 Days

5 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 April 2024, 28 homes were sold in Lebanon; 36% of homes were sold within 30 days, 43% of homes were sold within 30 to 90 days, and 18% 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 13 Days Ago

Newest Listings in Lebanon, MO

Nearby Markets to Lebanon, MO

What housing markets are near Lebanon, MO?