Is Lincoln, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Lincoln is a seller's market

Buyer's
Market

Difference Since Last Month

Since last month, 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, IL

How much do homes in Lincoln, IL cost?

Median Sold Price

$125,000

$100/sqft

Based on all homes sold in October 2024.

Difference Since Last Month

-$24,500(-16.4%)

Key Takeaway

Homes in Lincoln have sold for 16.4% less than they did a month ago.

Summary: The median home sold price in Lincoln was $125,000 in October 2024, down 16.4% from last month, and the median price per square foot was $100.

Median Sold Price By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 -$74.9K
N/A
2 $50.7K$122K
+140.6%
3 $149.5K$121.9K
-18.4%
4 $387.5K$252K
-35.0%
5+ $237K$175K
-26.2%

Summary: Lincoln housing prices by bedroom type for October 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 140.6%, 3 bedroom homes decreased by 18.4%, 4 bedroom homes decreased by 35%, and 5+ bedroom homes decreased by 26.2%.

Housing Supply in Lincoln, IL

How many homes are available in Lincoln, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
8293+13.4%

Summary: The Lincoln real estate market had 93 homes for sale in October 2024, a 13.4% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 22
0.0%
2 2128
+33.3%
3 3841
+7.9%
4 1619
+18.8%
5+ 53
-40.0%

Summary: The Lincoln housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 33.3%, 3 bedroom homes increased by 7.9%, 4 bedroom homes increased by 18.8%, and 5+ bedroom homes decreased by 40%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
1730+76.5%

Asking Price vs. Sold Price

10 Homes Were Sold
Under Asking

10 Homes Were Sold
At Asking

10 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Lincoln, you may be able to get a good deal. 33.3% of homes here sold below asking price last month.

Summary: A total of 30 homes were sold or pending in Lincoln in October 2024, up by 76.5% month-over-month. Of the 30 sold homes, 33% were sold under asking, 33% were sold at asking, and 33% were sold over asking.

Days on Market for Lincoln, IL

How long does it take to sell a home in Lincoln, IL?

Average Sale Time

Sep 2024Oct 2024CHANGE
23 Days20 Days-14.1%

Summary: Homes in Lincoln had an average of 20 days on market in Oct 2024, down by 14.1% compared to last month.

Breakdown of Home Sale Times

24 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

3 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Lincoln are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 30 homes were sold in Lincoln; 80% of homes were sold within 30 days, 10% of homes were sold within 30 to 90 days, and 10% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 20 Days Ago

Newest Listings in Lincoln, IL

Nearby Markets to Lincoln, IL

What housing markets are near Lincoln, IL?