Is Lincoln, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Lincoln has remained a Seller's Market.
Housing Prices in Lincoln, IL
How much do homes in Lincoln, IL cost?
Median Sold Price
$110,000
$84/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Lincoln was $110,000 in May 2024, up 10.8% from last year, and the median price per square foot was $84.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $25.2K | $58K | +129.7% |
2 Bedrooms | $77.7K | $78.2K | +0.6% |
3 Bedrooms | $121.2K | $120K | -1.0% |
4 Bedrooms | $151.5K | $158.5K | +4.6% |
5+ Bedrooms | $175K | $175K | 0.0% |
Summary: Lincoln housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 129.7%, 2 bedroom homes increased by 0.6%, 3 bedroom homes decreased by 1%, 4 bedroom homes increased by 4.6%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
Chester Township | $126K | $147.4K | +17.0% |
Lincoln | $99.2K | $110K | +10.8% |
East Lincoln Township | $107K | $110K | +2.8% |
West Lincoln Township | $105K | $101K | -3.8% |
Housing Supply in Lincoln, IL
How many homes are available in Lincoln, IL?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
61 | 69 | +13.1% |
Summary: The Lincoln real estate market had 69 homes for sale in May 2024, a 13.1% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 3 | 3 | 0.0% |
2 Bedrooms | 19 | 24 | +26.3% |
3 Bedrooms | 21 | 25 | +19.0% |
4 Bedrooms | 14 | 14 | 0.0% |
5+ Bedrooms | 4 | 3 | -25.0% |
Summary: The Lincoln housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 26.3%, 3 bedroom homes increased by 19%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 25%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
12 | 22 | +83.3% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
13 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Summary: A total of 22 homes were sold or pending in Lincoln in May 2024, up by 83.3% month-over-month. Of the 22 sold homes, 14% were sold under asking, 59% were sold at asking, and 27% were sold over asking.
Days on Market for Lincoln, IL
How long does it take to sell a home in Lincoln, IL?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
31 Days | 45 Days | +43.7% |
Summary: Homes in Lincoln had an average of 45 days on market in May 2024, up by 43.7% compared to last year.
Breakdown of Home Sale Times
19 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During May 2024, 22 homes were sold in Lincoln; 86% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.