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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Lincoln Square is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, Lincoln Square has remained a Seller's Market.

Key Takeaway

Lincoln Square is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Lincoln Square, IL

How much do homes in Lincoln Square, IL cost?

Median Sold Price

$520,000

$301/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$48,000(+10.2%)

Key Takeaway

Homes in Lincoln Square have sold for 10.2% more than they did a year ago.

Summary: The median home sold price in Lincoln Square was $520,000 in October 2024, up 10.2% from last year, and the median price per square foot was $301.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $192K$193.7K
+0.9%
2 $316.5K$311.5K
-1.6%
3 $587.4K$575.7K
-2.0%
4 $783K$947.5K
+21.0%
5+ $815K$975K
+19.6%

Summary: Lincoln Square housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 0.9%, 2 bedroom homes decreased by 1.6%, 3 bedroom homes decreased by 2%, 4 bedroom homes increased by 21%, and 5+ bedroom homes increased by 19.6%.

Housing Supply in Lincoln Square, IL

How many homes are available in Lincoln Square, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
104114+9.6%

Summary: The Lincoln Square real estate market had 114 homes for sale in October 2024, a 9.6% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 311
+266.7%
2 2632
+23.1%
3 3126
-16.1%
4 1620
+25.0%
5+ 2825
-10.7%

Summary: The Lincoln Square housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 266.7%, 2 bedroom homes increased by 23.1%, 3 bedroom homes decreased by 16.1%, 4 bedroom homes increased by 25%, and 5+ bedroom homes decreased by 10.7%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
3229-9.4%

Asking Price vs. Sold Price

16 Homes Were Sold
Under Asking

3 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 Square, you may be able to get a good deal. 55.2% of homes here sold below asking price last month.

Summary: A total of 29 homes were sold or pending in Lincoln Square in October 2024, down by 9.4% month-over-month. Of the 29 sold homes, 55% were sold under asking, 10% were sold at asking, and 34% were sold over asking.

Days on Market for Lincoln Square, IL

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

Average Sale Time

Oct 2023Oct 2024CHANGE
11 Days17 Days+52.3%

Summary: Homes in Lincoln Square had an average of 17 days on market in Oct 2024, up by 52.3% compared to last year.

Breakdown of Home Sale Times

24 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During October 2024, 29 homes were sold in Lincoln Square; 83% of homes were sold within 30 days, 10% of homes were sold within 30 to 90 days, and 7% 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 17 Days Ago

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