Is Lincoln, RI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 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, RI
How much do homes in Lincoln, RI cost?
Median Sold Price
$465,166
$259/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Lincoln have sold for 8.2% more than they did a year ago.
Summary: The median home sold price in Lincoln was $465,166 in April 2024, up 8.2% from last year, and the median price per square foot was $259.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $150K | $138.5K | -7.7% |
| 2 Bedrooms | $304.5K | $365.7K | +20.1% |
| 3 Bedrooms | $450K | $482.5K | +7.2% |
| 4 Bedrooms | $640.5K | $605K | -5.5% |
| 5+ Bedrooms | $515K | $545K | +5.8% |
Summary: Lincoln housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 7.7%, 2 bedroom homes increased by 20.1%, 3 bedroom homes increased by 7.2%, 4 bedroom homes decreased by 5.5%, and 5+ bedroom homes increased by 5.8%.
Median Sold Price Compared To Nearby Cities
| Manville | $297.5K | $416.5K | +40.0% |
| Cumberland | $425K | $463.6K | +9.1% |
| Lincoln | $429.9K | $465.1K | +8.2% |
| North Smithfield | $432.2K | $432.9K | 0.2% |
Housing Supply in Lincoln, RI
How many homes are available in Lincoln, RI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 62 | 66 | +6.5% |
Summary: The Lincoln real estate market had 66 homes for sale in April 2024, a 6.5% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 4 | 5 | +25.0% |
| 2 Bedrooms | 18 | 16 | -11.1% |
| 3 Bedrooms | 20 | 24 | +20.0% |
| 4 Bedrooms | 9 | 12 | +33.3% |
| 5+ Bedrooms | 11 | 9 | -18.2% |
Summary: The Lincoln housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 25%, 2 bedroom homes decreased by 11.1%, 3 bedroom homes increased by 20%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes decreased by 18.2%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 15 | 17 | +13.3% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
9 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lincoln, you could pay more than the asking price. 52.9% of homes here sold above asking price last month.
Summary: A total of 17 homes were sold or pending in Lincoln in April 2024, up by 13.3% month-over-month. Of the 17 sold homes, 24% were sold under asking, 24% were sold at asking, and 53% were sold over asking.
Days on Market for Lincoln, RI
How long does it take to sell a home in Lincoln, RI?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 15 Days | 20 Days | +31.0% |
Summary: Homes in Lincoln had an average of 20 days on market in Apr 2024, up by 31% compared to last year.
Breakdown of Home Sale Times
12 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Lincoln are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 17 homes were sold in Lincoln; 71% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
