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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Lincoln is a seller's market

Buyer's
Market

Difference Since May 2023

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

Key Takeaway

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

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

+$10,750(+10.8%)

Key Takeaway

Homes in Lincoln have sold for 10.8% more than they did a year ago.

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

# BEDSMay 2023May 2024CHANGE
1 $25.2K$58K
+129.7%
2 $77.7K$78.2K
+0.6%
3 $121.2K$120K
-1.0%
4 $151.5K$158.5K
+4.6%
5+ $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
+17.0%
Lincoln
+10.8%
East Lincoln Township
+2.8%
West Lincoln Township
-3.8%

Housing Supply in Lincoln, IL

How many homes are available in Lincoln, IL?

Number of Homes For Sale

Apr 2024May 2024CHANGE
6169+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

# BEDSApr 2024May 2024CHANGE
1 33
0.0%
2 1924
+26.3%
3 2125
+19.0%
4 1414
0.0%
5+ 43
-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 2024May 2024CHANGE
1222+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

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Lincoln, expect to pay close to the asking price. 59.1% of homes here sold near the asking price last month.

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 2023May 2024CHANGE
31 Days45 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

Breakdown of Home Sale Times

Key Takeaway

Many homes in Lincoln are selling fast, if you're buying plan to act quickly.

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.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 3 Days Ago

Newest Listings in Lincoln, IL

Nearby Markets to Lincoln, IL

What housing markets are near Lincoln, IL?