$1,900 Closing Credit*
$160,000
964 SqFt
3 Beds
•1 Full Bath
Kara Weber, Listing Office: Keller Williams of Central PA
Is Lebanon, PA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 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, PA
How much do homes in Lebanon, PA cost?
Median Sold Price
$246,988
$156/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$26,572(+12.1%)
Key Takeaway
Homes in Lebanon have sold for 12.1% more than they did a year ago.
Summary: The median home sold price in Lebanon was $246,988 in November 2024, up 12.1% from last year, and the median price per square foot was $156.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $116K | $145K | +25.0% |
| 2 Bedrooms | $164.7K | $217K | +31.7% |
| 3 Bedrooms | $215K | $237K | +10.2% |
| 4 Bedrooms | $315K | $350K | +11.1% |
| 5+ Bedrooms | $430K | $285K | -33.7% |
Summary: Lebanon housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 25%, 2 bedroom homes increased by 31.7%, 3 bedroom homes increased by 10.2%, 4 bedroom homes increased by 11.1%, and 5+ bedroom homes decreased by 33.7%.
Median Sold Price Compared To Nearby Cities
| North Cornwall Township | $300K | $405K | +35.0% |
| Lebanon | $220.4K | $246.9K | +12.1% |
| North Lebanon Township | $285.5K | $305K | +6.8% |
| South Lebanon Township | $271.7K | $275K | +1.2% |
Housing Supply in Lebanon, PA
How many homes are available in Lebanon, PA?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 228 | 224 | -1.8% |
Summary: The Lebanon real estate market had 224 homes for sale in November 2024, a 1.8% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 40 | 36 | -10.0% |
| 3 Bedrooms | 120 | 110 | -8.3% |
| 4 Bedrooms | 56 | 64 | +14.3% |
| 5+ Bedrooms | 11 | 13 | +18.2% |
Summary: The Lebanon housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 10%, 3 bedroom homes decreased by 8.3%, 4 bedroom homes increased by 14.3%, and 5+ bedroom homes increased by 18.2%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 59 | 53 | -10.2% |
Asking Price vs. Sold Price
19 Homes Were Sold
Under Asking
15 Homes Were Sold
At Asking
19 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lebanon, you may be able to get a good deal. 35.8% of homes here sold below asking price last month.
Summary: A total of 53 homes were sold or pending in Lebanon in November 2024, down by 10.2% month-over-month. Of the 53 sold homes, 36% were sold under asking, 28% were sold at asking, and 36% were sold over asking.
Days on Market for Lebanon, PA
How long does it take to sell a home in Lebanon, PA?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 12 Days | 28 Days | +125.1% |
Summary: Homes in Lebanon had an average of 28 days on market in Nov 2024, up by 125.1% compared to last year.
Breakdown of Home Sale Times
41 Homes Were Sold
Under 30 Days
8 Homes Were Sold
In 30 - 90 Days
4 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 November 2024, 53 homes were sold in Lebanon; 77% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.
