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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Lincolnwood is a seller's market

Buyer's
Market

Difference Since October 2023

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

Key Takeaway

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

Housing Prices in Lincolnwood, IL

How much do homes in Lincolnwood, IL cost?

Median Sold Price

$490,000

$238/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

-$12,500(-2.5%)

Key Takeaway

Homes in Lincolnwood have sold for 2.5% less than they did a year ago.

Summary: The median home sold price in Lincolnwood was $490,000 in October 2024, down 2.5% from last year, and the median price per square foot was $238.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $217.5K-
N/A
2 $309K$292K
-5.5%
3 $459.3K$454.5K
-1.1%
4 $630K$692.4K
+9.9%
5+ $932.5K$1.1M
+24.8%

Summary: Lincolnwood housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 5.5%, 3 bedroom homes decreased by 1.1%, 4 bedroom homes increased by 9.9%, and 5+ bedroom homes increased by 24.8%.

Median Sold Price Compared To Nearby Cities

Skokie
+8.1%
Niles Township
+6.7%
Chicago
+6.1%
Lincolnwood
-2.5%

Housing Supply in Lincolnwood, IL

How many homes are available in Lincolnwood, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
4351+18.6%

Summary: The Lincolnwood real estate market had 51 homes for sale in October 2024, a 18.6% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 11
0.0%
2 76
-14.3%
3 1724
+41.2%
4 1414
0.0%
5+ 46
+50.0%

Summary: The Lincolnwood 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 decreased by 14.3%, 3 bedroom homes increased by 41.2%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 50%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
1011+10.0%

Asking Price vs. Sold Price

6 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

3 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Lincolnwood, you may be able to get a good deal. 54.5% of homes here sold below asking price last month.

Summary: A total of 11 homes were sold or pending in Lincolnwood in October 2024, up by 10.0% month-over-month. Of the 11 sold homes, 55% were sold under asking, 18% were sold at asking, and 27% were sold over asking.

Days on Market for Lincolnwood, IL

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

Average Sale Time

Oct 2023Oct 2024CHANGE
37 Days34 Days-7.9%

Summary: Homes in Lincolnwood had an average of 34 days on market in Oct 2024, down by 7.9% compared to last year.

Breakdown of Home Sale Times

8 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During October 2024, 11 homes were sold in Lincolnwood; 73% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 9% 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 Lincolnwood, IL

Nearby Markets to Lincolnwood, IL

What housing markets are near Lincolnwood, IL?