Is Lincoln Charter Township, MI 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 Charter Township has remained a Seller's Market.
Key Takeaway
Lincoln Charter Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Lincoln Charter Township, MI
How much do homes in Lincoln Charter Township, MI cost?
Median Sold Price
$335,000
$201/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Lincoln Charter Township have sold for 3.1% more than they did a year ago.
Summary: The median home sold price in Lincoln Charter Township was $335,000 in May 2024, up 3.1% from last year, and the median price per square foot was $201.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $158K | $187K | +18.4% |
| 2 Bedrooms | $180K | $242.5K | +34.7% |
| 3 Bedrooms | $255K | $290.3K | +13.8% |
| 4 Bedrooms | $385.5K | $425.5K | +10.4% |
| 5+ Bedrooms | $513K | $580.5K | +13.2% |
Summary: Lincoln Charter Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 18.4%, 2 bedroom homes increased by 34.7%, 3 bedroom homes increased by 13.8%, 4 bedroom homes increased by 10.4%, and 5+ bedroom homes increased by 13.2%.
Median Sold Price Compared To Nearby Cities
| Saint Joseph Charter Township | $243K | $287.4K | +18.3% |
| Stevensville | $319K | $339.4K | +6.4% |
| Royalton Township | $390K | $414K | +6.2% |
| Lincoln Charter Township | $325K | $335K | +3.1% |
| Shoreham | $328K | $320K | -2.4% |
Housing Supply in Lincoln Charter Township, MI
How many homes are available in Lincoln Charter Township, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 52 | 77 | +48.1% |
Summary: The Lincoln Charter Township real estate market had 77 homes for sale in May 2024, a 48.1% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 7 | 10 | +42.9% |
| 3 Bedrooms | 16 | 22 | +37.5% |
| 4 Bedrooms | 21 | 29 | +38.1% |
| 5+ Bedrooms | 8 | 16 | +100.0% |
Summary: The Lincoln Charter Township 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 42.9%, 3 bedroom homes increased by 37.5%, 4 bedroom homes increased by 38.1%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 10 | 20 | +100.0% |
Asking Price vs. Sold Price
13 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lincoln Charter Township, you may be able to get a good deal. 65% of homes here sold below asking price last month.
Summary: A total of 20 homes were sold or pending in Lincoln Charter Township in May 2024, up by 100.0% month-over-month. Of the 20 sold homes, 65% were sold under asking, 15% were sold at asking, and 20% were sold over asking.
Days on Market for Lincoln Charter Township, MI
How long does it take to sell a home in Lincoln Charter Township, MI?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 34 Days | 55 Days | +61.5% |
Summary: Homes in Lincoln Charter Township had an average of 55 days on market in May 2024, up by 61.5% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
12 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Lincoln Charter Township has remained consistent over time.
Summary: During May 2024, 20 homes were sold in Lincoln Charter Township; 25% of homes were sold within 30 days, 60% of homes were sold within 30 to 90 days, and 10% of homes were sold over 90 days.
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