Is Lincoln City, OR 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 City was a Seller's Market.
Key Takeaway
Lincoln City is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Lincoln City, OR
How much do homes in Lincoln City, OR cost?
Median Sold Price
$507,500
$354/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Lincoln City have sold for 1.5% more than they did a year ago.
Summary: The median home sold price in Lincoln City was $507,500 in May 2024, up 1.5% from last year, and the median price per square foot was $354.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $306.5K | $295K | -3.8% |
| 2 Bedrooms | $377.5K | $442.5K | +17.2% |
| 3 Bedrooms | $556.2K | $582.5K | +4.7% |
| 4 Bedrooms | $625K | $895K | +43.2% |
| 5+ Bedrooms | $1.1M | $689K | -42.4% |
Summary: Lincoln City housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 3.8%, 2 bedroom homes increased by 17.2%, 3 bedroom homes increased by 4.7%, 4 bedroom homes increased by 43.2%, and 5+ bedroom homes decreased by 42.4%.
Median Sold Price Compared To Nearby Cities
| Otis | $377.5K | $396.1K | +4.9% |
| Lincoln City | $500K | $507.5K | +1.5% |
Housing Supply in Lincoln City, OR
How many homes are available in Lincoln City, OR?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 87 | 99 | +13.8% |
Summary: The Lincoln City real estate market had 99 homes for sale in May 2024, a 13.8% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 5 | 7 | +40.0% |
| 2 Bedrooms | 15 | 18 | +20.0% |
| 3 Bedrooms | 45 | 47 | +4.4% |
| 4 Bedrooms | 16 | 19 | +18.8% |
| 5+ Bedrooms | 6 | 8 | +33.3% |
Summary: The Lincoln City housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 40%, 2 bedroom homes increased by 20%, 3 bedroom homes increased by 4.4%, 4 bedroom homes increased by 18.8%, and 5+ bedroom homes increased by 33.3%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 10 | 9 | -10.0% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Lincoln City, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.
Summary: A total of 9 homes were sold or pending in Lincoln City in May 2024, down by 10.0% month-over-month. Of the 9 sold homes, 67% were sold under asking, 22% were sold at asking, and 11% were sold over asking.
Days on Market for Lincoln City, OR
How long does it take to sell a home in Lincoln City, OR?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 56 Days | 78 Days | +39.1% |
Summary: Homes in Lincoln City had an average of 78 days on market in May 2024, up by 39.1% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Lincoln City are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 9 homes were sold in Lincoln City; 44% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 33% of homes were sold over 90 days.
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