Is Lincoln Township, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Lincoln Township was a Neutral Market.
Housing Prices in Lincoln Township, MI
How much do homes in Lincoln Township, MI cost?
Median Sold Price
$195,000
$118/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Lincoln Township was $195,000 in May 2024, up 38.3% from last year, and the median price per square foot was $118.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $130K | $50K | -61.5% |
2 Bedrooms | $106.8K | $150K | +40.4% |
3 Bedrooms | $147K | $197.5K | +34.4% |
4 Bedrooms | - | $275K | N/A |
5+ Bedrooms | - | $219K | N/A |
Summary: Lincoln Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 61.5%, 2 bedroom homes increased by 40.4%, 3 bedroom homes increased by 34.4%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
Lincoln Township | $141K | $195K | +38.3% |
Fremont Township | $200K | $225K | +12.5% |
Union Charter Township | $315K | $227K | -27.9% |
Housing Supply in Lincoln Township, MI
How many homes are available in Lincoln Township, MI?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
12 | 13 | +8.3% |
Summary: The Lincoln Township real estate market had 13 homes for sale in May 2024, a 8.3% 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 | 3 | 5 | +66.7% |
3 Bedrooms | 5 | 4 | -20.0% |
4 Bedrooms | 3 | 2 | -33.3% |
5+ Bedrooms | 1 | 2 | +100.0% |
Summary: The Lincoln 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 66.7%, 3 bedroom homes decreased by 20%, 4 bedroom homes decreased by 33.3%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
2 | 5 | +150.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Summary: A total of 5 homes were sold or pending in Lincoln Township in May 2024, up by 150.0% month-over-month. Of the 5 sold homes, 60% were sold under asking, 0% were sold at asking, and 40% were sold over asking.
Days on Market for Lincoln Township, MI
How long does it take to sell a home in Lincoln Township, MI?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
19 Days | 71 Days | +273.7% |
Summary: Homes in Lincoln Township had an average of 71 days on market in May 2024, up by 273.7% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During May 2024, 5 homes were sold in Lincoln Township; 20% of homes were sold within 30 days, 40% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.