Lebanon, TN 37087 Real Estate Market Report

ZIP Code: 37087
Report Date: May 2026
Market Temperature: NEUTRAL
Scope: This ZIP code analysis focuses on single-family residential (SFR) properties. Metrics are calculated from recent sales and active listings within the past 90 days.

---

Market Overview

This analysis is based on a sample of properties from this ZIP code (up to 200 sold properties and up to 100 active properties). The median prices below are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

---

Market Metrics

Note: The property counts shown above represent only the properties analyzed in this report sample, not the total inventory for this ZIP code. Median prices are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

---

Rental Market

Note: The relationship between property values and rental rates reflects different market dynamics. Higher-priced properties may have lower rental yields due to factors such as luxury market positioning, owner-occupancy preferences, or long-term appreciation strategies rather than immediate rental income maximization.

---

Property Taxes

---

Liquidity & Velocity

Note: A Sale-to-List Ratio near 100% can occur when properties sell at or near their final listing price after price adjustments during the listing period, even when initial listing prices differ significantly from sale prices.

---

Market Trends & Context

Understanding Market Temperature

A Neutral market indicates balanced conditions where neither buyers nor sellers have a strong advantage, typically characterized by flat price trends, extended but stable days on market, and moderate inventory relative to sales.

---

Key Findings

1. The neighborhood's primary market value is the median sold price 443,000, which should be treated as the representative recent sale benchmark; the gap versus the median listing price 579,400 suggests pricing friction between seller expectations and transaction reality that sellers and appraisers should reconcile when setting offers or asking prices.

2. Liquidity appears muted: the median days on market 150 signals slower sales velocity relative to fast-turn markets, which may extend marketing timelines and increase carrying costs for sellers and investors.

3. Underlying demand and income signals are supportive: price year-over-year trend is up and rent year-over-year trend is up, while the market temperature is neutral; however, interest rate pressure is elevated and may dampen buyer affordability and transaction pace despite rising prices and rents.

4. Use the median price per square foot 231 and median market rent 1,945 as local valuation anchors for underwriting and pricing; given the analyzed sample shows relatively constrained active supply, market participants should price competitively to capture available demand while monitoring elevated interest rate pressure for timing risk.

---

Notable Properties

The following 8 properties represent notable market examples and recent transactions that illustrate key market dynamics. These are illustrative examples selected for their significance (top sales, market benchmarks, quick sales) and are not the basis for the statistical calculations shown above.

Lebanon, TN 37087 Real Estate Market Report

ZIP Code: 37087
Report Date: May 2026
Market Temperature: NEUTRAL
Scope: This ZIP code analysis focuses on condominium properties. Metrics are calculated from recent condo sales and active listings within the past 90 days.

---

Market Overview

This analysis is based on a sample of properties from this ZIP code (up to 200 sold properties and up to 100 active properties). The median prices below are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

---

Market Metrics

Note: The property counts shown above represent only the properties analyzed in this report sample, not the total inventory for this ZIP code. Median prices are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

---

Rental Market

Note: The relationship between property values and rental rates reflects different market dynamics. Higher-priced properties may have lower rental yields due to factors such as luxury market positioning, owner-occupancy preferences, or long-term appreciation strategies rather than immediate rental income maximization.

---

Property Taxes

---

Liquidity & Velocity

---

Market Trends & Context

Understanding Market Temperature

A Neutral market indicates balanced conditions where neither buyers nor sellers have a strong advantage, typically characterized by flat price trends, extended but stable days on market, and moderate inventory relative to sales.

---

Key Findings

1. The primary market indicator is the median sold price of $339,900, which—together with a price year‑over‑year trend that is up—suggests recent transactions are supporting gradual appreciation and should be prioritized over asking prices when valuing assets.

2. Market liquidity appears subdued: the median days on market is 319, indicating slower sales velocity and potential pricing friction; sellers and investors should expect extended marketing periods and consider pricing or concession strategies to accelerate transactions.

3. Seller expectations are higher than recent transactions: the median listing price of $344,950 sits above the median sold price, which may indicate a gap between asking levels and realized sale prices and suggests listing-level adjustments could be required to improve conversion rates.

4. Rent and valuation context is mixed for investors: the median market rent is $1,400 and the median price per square foot is $193, with rent year‑over‑year trend up—however, elevated interest rate pressure may constrain buyer affordability and slow transaction volumes, so underwrite with interest‑rate sensitivity in mind.

---

Notable Properties

The following 8 properties represent notable market examples and recent transactions that illustrate key market dynamics. These are illustrative examples selected for their significance (top sales, market benchmarks, quick sales) and are not the basis for the statistical calculations shown above.