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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing West Lincoln Township is a seller's market

Buyer's
Market

Difference Since October 2023

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

Key Takeaway

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

Housing Prices in West Lincoln Township, IL

How much do homes in West Lincoln Township, IL cost?

Median Sold Price

$109,000

$86/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$8,000(+7.9%)

Key Takeaway

Homes in West Lincoln Township have sold for 7.9% more than they did a year ago.

Summary: The median home sold price in West Lincoln Township was $109,000 in October 2024, up 7.9% from last year, and the median price per square foot was $86.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $42K$27.3K
-34.8%
2 $80.4K$82.4K
+2.4%
3 $120K$129K
+7.5%
4 $187.5K$231.5K
+23.5%
5+ $210K$190K
-9.5%

Summary: West Lincoln Township housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 34.8%, 2 bedroom homes increased by 2.4%, 3 bedroom homes increased by 7.5%, 4 bedroom homes increased by 23.5%, and 5+ bedroom homes decreased by 9.5%.

Median Sold Price Compared To Nearby Cities

East Lincoln Township
+28.4%
Lincoln
+20.5%
West Lincoln Township
+7.9%

Housing Supply in West Lincoln Township, IL

How many homes are available in West Lincoln Township, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
3337+12.1%

Summary: The West Lincoln Township real estate market had 37 homes for sale in October 2024, a 12.1% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 11
0.0%
2 1114
+27.3%
3 1313
0.0%
4 68
+33.3%
5+ 21
-50.0%

Summary: The West Lincoln Township 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 27.3%, 3 bedroom homes remained the same, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes decreased by 50%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
715+114.3%

Asking Price vs. Sold Price

6 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

7 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in West Lincoln Township, you could pay more than the asking price. 46.7% of homes here sold above asking price last month.

Summary: A total of 15 homes were sold or pending in West Lincoln Township in October 2024, up by 114.3% month-over-month. Of the 15 sold homes, 40% were sold under asking, 13% were sold at asking, and 47% were sold over asking.

Days on Market for West Lincoln Township, IL

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

Average Sale Time

Oct 2023Oct 2024CHANGE
7 Days21 Days+213.3%

Summary: Homes in West Lincoln Township had an average of 21 days on market in Oct 2024, up by 213.3% compared to last year.

Breakdown of Home Sale Times

13 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During October 2024, 15 homes were sold in West Lincoln Township; 87% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 13% 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 West Lincoln Township, IL

Nearby Markets to West Lincoln Township, IL

What housing markets are near West Lincoln Township, IL?