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
Since last year, Lincoln Township has remained a Seller's Market.
Key Takeaway
Lincoln Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Lincoln Township, MI
How much do homes in Lincoln Township, MI cost?
Median Sold Price
$166,000
$115/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Lincoln Township have sold for 2.2% more than they did a year ago.
Summary: The median home sold price in Lincoln Township was $166,000 in May 2024, up 2.2% from last year, and the median price per square foot was $115.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $130K | $50K | -61.5% |
| 2 Bedrooms | $78K | $160K | +105.1% |
| 3 Bedrooms | $153K | $166K | +8.5% |
| 4 Bedrooms | $252K | $275K | +9.1% |
| 5+ Bedrooms | $792K | $50K | -93.7% |
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 105.1%, 3 bedroom homes increased by 8.5%, 4 bedroom homes increased by 9.1%, and 5+ bedroom homes decreased by 93.7%.
Median Sold Price Compared To Nearby Cities
| Midland | $200K | $234.8K | +17.4% |
| Lincoln Township | $162.5K | $166K | +2.2% |
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 |
|---|---|---|
| 14 | 15 | +7.1% |
Summary: The Lincoln Township real estate market had 15 homes for sale in May 2024, a 7.1% 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 | 2 | 4 | +100.0% |
| 3 Bedrooms | 7 | 6 | -14.3% |
| 4 Bedrooms | 4 | 4 | 0.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
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 100%, 3 bedroom homes decreased by 14.3%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 2 | 4 | +100.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lincoln Township, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 4 homes were sold or pending in Lincoln Township in May 2024, up by 100.0% month-over-month. Of the 4 sold homes, 50% were sold under asking, 0% were sold at asking, and 50% 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 |
|---|---|---|
| 12 Days | 100 Days | +705.3% |
Summary: Homes in Lincoln Township had an average of 100 days on market in May 2024, up by 705.3% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Lincoln Township are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During May 2024, 4 homes were sold in Lincoln Township; 25% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 50% of homes were sold over 90 days.
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