$7,244 Closing Credit*
$610,000
1,392 SqFt
Maria Natalie O'Neill, Listing Office: Howard Hanna Krall Real Estate
Is Lebanon, PA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 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
$245,000
$154/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$27,300(+12.5%)
Key Takeaway
Homes in Lebanon have sold for 12.5% more than they did a year ago.
Summary: The median home sold price in Lebanon was $245,000 in October 2024, up 12.5% from last year, and the median price per square foot was $154.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $116K | $145K | +25.0% |
| 2 Bedrooms | $154.7K | $210K | +35.7% |
| 3 Bedrooms | $212.3K | $238K | +12.1% |
| 4 Bedrooms | $318.2K | $322.5K | +1.3% |
| 5+ Bedrooms | $340K | $305K | -10.3% |
Summary: Lebanon housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 25%, 2 bedroom homes increased by 35.7%, 3 bedroom homes increased by 12.1%, 4 bedroom homes increased by 1.3%, and 5+ bedroom homes decreased by 10.3%.
Median Sold Price Compared To Nearby Cities
| North Cornwall Township | $285K | $407.5K | +43.0% |
| Lebanon | $217.7K | $245K | +12.5% |
| North Lebanon Township | $285K | $300K | +5.3% |
| South Lebanon Township | $271.2K | $277.5K | +2.3% |
Housing Supply in Lebanon, PA
How many homes are available in Lebanon, PA?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 252 | 227 | -9.9% |
Summary: The Lebanon real estate market had 227 homes for sale in October 2024, a 9.9% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 1 | -50.0% |
| 2 Bedrooms | 52 | 40 | -23.1% |
| 3 Bedrooms | 127 | 118 | -7.1% |
| 4 Bedrooms | 61 | 55 | -9.8% |
| 5+ Bedrooms | 10 | 13 | +30.0% |
Summary: The Lebanon housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes decreased by 23.1%, 3 bedroom homes decreased by 7.1%, 4 bedroom homes decreased by 9.8%, and 5+ bedroom homes increased by 30%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 85 | 55 | -35.3% |
Asking Price vs. Sold Price
17 Homes Were Sold
Under Asking
25 Homes Were Sold
At Asking
13 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lebanon, expect to pay close to the asking price. 45.5% of homes here sold near the asking price last month.
Summary: A total of 55 homes were sold or pending in Lebanon in October 2024, down by 35.3% month-over-month. Of the 55 sold homes, 31% were sold under asking, 45% were sold at asking, and 24% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 13 Days | 22 Days | +60.8% |
Summary: Homes in Lebanon had an average of 22 days on market in Oct 2024, up by 60.8% compared to last year.
Breakdown of Home Sale Times
41 Homes Were Sold
Under 30 Days
12 Homes Were Sold
In 30 - 90 Days
2 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 October 2024, 55 homes were sold in Lebanon; 75% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.
