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.
Housing Prices in Lincoln Township, MI
How much do homes in Lincoln Township, MI cost?
Median Sold Price
$153,000
$103/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 $153,000 in May 2024, up 2.3% from last year, and the median price per square foot was $103.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $130K | $50K | -61.5% |
2 Bedrooms | $100K | $132K | +32.0% |
3 Bedrooms | $163.5K | $159.6K | -2.3% |
4 Bedrooms | - | $250K | N/A |
5+ Bedrooms | - | $50K | 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 32%, 3 bedroom homes decreased by 2.3%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
Lake | $125K | $147K | +17.6% |
Surrey Township | $110K | $125K | +13.6% |
Lincoln Township | $149.5K | $153K | +2.3% |
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 |
---|---|---|
18 | 26 | +44.4% |
Summary: The Lincoln Township real estate market had 26 homes for sale in May 2024, a 44.4% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 1 | +100.0% |
2 Bedrooms | 5 | 9 | +80.0% |
3 Bedrooms | 6 | 6 | 0.0% |
4 Bedrooms | 6 | 9 | +50.0% |
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 increased by 100%, 2 bedroom homes increased by 80%, 3 bedroom homes remained the same, 4 bedroom homes increased by 50%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
1 | 5 | +400.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Summary: A total of 5 homes were sold or pending in Lincoln Township in May 2024, up by 400.0% month-over-month. Of the 5 sold homes, 40% were sold under asking, 0% were sold at asking, and 60% 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 |
---|---|---|
17 Days | 82 Days | +370.1% |
Summary: Homes in Lincoln Township had an average of 82 days on market in May 2024, up by 370.1% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
1 Home Was 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, 20% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.