Lebanon Housing Market Report December 2024•Saint Clair County, Illinois

hero building illustration for mobile

Housing Prices in Lebanon, IL

How much do homes in Lebanon, IL cost?

Housing Market Conditions

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

Housing Market Conditions

This is the supply and demand for houses in an area based on home prices and trends.

Buyer’s Market

A buyer’s market occurs when the number of available properties for sale exceeds the number of buyers looking to purchase. In a buyer’s market, the supply exceeds the demand.

Neutral Market

A neutral market occurs when the number of buyers looking to purchase properties meets the number of available properties for sale. In a balanced market, there are enough homes to meet the demand.

Seller’s Market

A seller’s market occurs when there are more buyers looking to purchase properties than there are available homes on the market. In a seller’s market, the demand exceeds the supply.

Seller'sMarket

Buyer'sMarket

Lebanon is a Seller's Market

Difference Since December 2023

Since last year, Lebanon has remained a Seller's Market.

Insight

Lebanon is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Median Sold Price

Median Sold Price
This is the middle price for which all homes in the area were sold. Half of all the homes sold were below this price, and half were above.
$185,000$119/SqFt
-$29,000
-13.6%

Based on all homes sold in the last 12 months

Insight

Homes in Lebanon have sold for 13.6% less than they did a year ago.

Summary: The median home sold price in Lebanon was $185,000 in December 2024, down 13.6% from last year, and the median price per square foot was $119.

Median Sold Price By City

Median Sold Price By City
This is the middle price for which all homes in the area were sold compared to surrounding cities. Half of all the homes sold were below this price, and half were above.
CityChange YoY
O'Fallon Township
-1.2%
Lebanon Township
-12.5%
Lebanon
-13.6%

Median Sold Price By Bedrooms

Median Sold Price By Bedrooms
This is the middle price for all homes actively listed in an area broken out by the number of bedrooms. Half of the homes are listed below this price, and half are above.
BedsDec 2023Dec 2024Change YoY
1$115K$74K
-35.7%
2$135K$135K
0.0%
3$240K$210K
-12.5%
4$275K$230K
-16.4%
5$495.1K$522.5K
+5.5%

Summary: Lebanon housing price by bedroom type for December 2024, compared to the previous year. The home price for 1 bedroom homes decreased by -35.7%. The home price for 2 bedroom homes did not change. The home price for 3 bedroom homes decreased by -12.5%. The home price for 4 bedroom homes decreased by -16.4%. The home price for 5 bedroom homes increased by +5.5%.

Housing supply in Lebanon, IL

How many homes are available in Lebanon, IL?

Number of Homes For Sale

Number of Homes For Sale
This is the total number of homes actively listed in an area.
Last Month2 months agoChange MoM
22Last MonthDec 2024
292 months agoNov 2024
-24.1 %
Change MoMNov – Dec

Summary: The Lebanon real estate market had 22 homes for sale in Dec 2024, a 24.1 % decrease compared to Nov 2024.

Number of Homes Sold

Number of Homes Sold
This is the total number of both homes sold and pending in an area.
Last Month2 months agoChange MoM
9Last MonthDec 2024
122 months agoNov 2024
-25.0 %
Change MoMNov – Dec

Homes For Sale By Bedroom Count

Homes For Sale By Bedroom Count
This is the total number of homes actively listed in an area by number of bedrooms.
BedsNov 2024Dec 2024Change MoM
110
-100.0%
2119
-18.2%
398
-11.1%
454
-20.0%
531
-66.7%

Summary: Lebanon housing inventory by bedroom type for December 2024, compared to the previous month. The inventory for 1 bedroom homes decreased by -100.0%. The inventory for 2 bedroom homes decreased by -18.2%. The inventory for 3 bedroom homes decreased by -11.1%. The inventory for 4 bedroom homes decreased by -20.0%. The inventory for 5 bedroom homes decreased by -66.7%.

Asking Price vs. Sold Price

How much do homes in Lebanon, IL cost?

Asking Price vs. Sold Price

The asking price is how much a home is listed for. The selling price is how much the home actually sold for.

Under Asking

Homes that sold for less than the asking price

At Asking

Homes that sold at their asking price

Over Asking

Homes that sold above the asking price

Over Asking Price5 Homes

At Asking Price0 Home

Under Asking Price4 Homes

Insight

If you're buying a home in Lebanon, you could pay more than the asking price. 55.6% of homes here sold above asking price last month.

Summary: A total of 9 homes were sold or pending in Lebanon in December 2024, down by 25.0% month-over-month. Of the 9 sold homes, 44% were sold under asking, 0% were sold at asking, and and 56% were sold over asking.

Days on Market for Lebanon, IL

How long does it take to sell a home in Lebanon, IL?

Breakdown of Home Sale Times

Under 30 Days3 Homes

30 – 90 Days5 Homes

Over 90 Days1 Home

Insight

Avg time on Rocket Homes in Lebanon has remained consistent over time.

Summary: During December 2024, 9 homes were sold in Lebanon; 33% of homes were sold within 30 days, 56% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.

Average Sale Time

Average Sale Time
This is the average number of days homes take to sell in an area.
This Year1 year agoChange YoY
49 DaysThis YearDec 2024
57 Days1 year agoDec 2023
-13.9 %
Change YoYDec 2023 – Dec 2024

Summary: Homes in Lebanon had an average listing age of 49 days in Dec 2024, down by 13.9% compared to the previous year.

Connect With An Agent

Local real estate agents are ready to help you find a home here

Sell My Home

Sell your home with an expert or get the job done on your own.

Get Approved

Get a customizable mortgage solution based on today's rates.

Newest Listings in Lebanon, IL

What homes are available in Lebanon, IL?

See More Listings

Nearby markets

Popular Cities with Homes for Sale in Illinois

MLS Disclaimers and Copyright

Based on information from Mid America Regional Information System, for the period 01/01/2023 - 01/01/2025

IDX Listings courtesy of Mid America Regional Information System as distributed by MLS GRID.

All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.

IDX Based on information submitted to the MLS GRID. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.

IDX information is provided exclusively for consumers personal non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, that the data is deemed reliable but is not guaranteed by MLS GRID, and that the use of the MLS GRID Data may be subject to an end user license agreement prescribed by the Member Participant’s applicable MLS if any and as amended from time to time. MLS GRID may, at its discretion, require use of other disclaimers as necessary to protect Member Participant, and/or their MLS from liability.

Listings courtesy of MARIS MLS as distributed by MLS GRID. Copyright © 2025 Mid America Regional Information System (MARIS). All Rights Reserved.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 1/30/2025, 11:53:49 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.