$5,463 Closing Credit*
$460,000
2,894 SqFt
3 Beds
•2 Full Baths
Bernie Gallerani, Listing Office: Bernie Gallerani Real Estate
Is Lebanon, TN 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, TN
How much do homes in Lebanon, TN cost?
Median Sold Price
$415,842
$211/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$24,361(+6.2%)
Key Takeaway
Homes in Lebanon have sold for 6.2% more than they did a year ago.
Summary: The median home sold price in Lebanon was $415,842 in November 2024, up 6.2% from last year, and the median price per square foot was $211.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $109K | $202.5K | +85.8% |
| 2 Bedrooms | $263K | $319K | +21.3% |
| 3 Bedrooms | $350K | $361.9K | +3.4% |
| 4 Bedrooms | $524.9K | $482.9K | -8.0% |
| 5+ Bedrooms | $520K | $499.9K | -3.8% |
Summary: Lebanon housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 85.8%, 2 bedroom homes increased by 21.3%, 3 bedroom homes increased by 3.4%, 4 bedroom homes decreased by 8%, and 5+ bedroom homes decreased by 3.8%.
Housing Supply in Lebanon, TN
How many homes are available in Lebanon, TN?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 593 | 631 | +6.4% |
Summary: The Lebanon real estate market had 631 homes for sale in November 2024, a 6.4% increase compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 4 | 3 | -25.0% |
| 2 Bedrooms | 37 | 42 | +13.5% |
| 3 Bedrooms | 316 | 318 | +0.6% |
| 4 Bedrooms | 190 | 203 | +6.8% |
| 5+ Bedrooms | 46 | 65 | +41.3% |
Summary: The Lebanon housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 25%, 2 bedroom homes increased by 13.5%, 3 bedroom homes increased by 0.6%, 4 bedroom homes increased by 6.8%, and 5+ bedroom homes increased by 41.3%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 116 | 109 | -6.0% |
Asking Price vs. Sold Price
55 Homes Were Sold
Under Asking
34 Homes Were Sold
At Asking
17 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lebanon, you may be able to get a good deal. 51.9% of homes here sold below asking price last month.
Summary: A total of 109 homes were sold or pending in Lebanon in November 2024, down by 6.0% month-over-month. Of the 106 sold homes, 52% were sold under asking, 32% were sold at asking, and 16% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 29 Days | 21 Days | -25.4% |
Summary: Homes in Lebanon had an average of 21 days on market in Nov 2024, down by 25.4% compared to last year.
Breakdown of Home Sale Times
78 Homes Were Sold
Under 30 Days
25 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, 109 homes were sold in Lebanon; 72% of homes were sold within 30 days, 23% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.
Listings courtesy of RealTracs Middle Tennessee Regional MLS as distributed by MLS GRID.
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The data relating to real estate for sale on this web site comes in part from the Internet Data exchange (“IDX”) program of the Knoxville Area Association of REALTORS® Multiple Listing Service. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some or all of the listings may not belong to the firm whose website is being visited. Real estate listings held by brokerage firms other than this broker are indicated by detailed information about them such as the name of the listing firms.