$2,791 Closing Credit*
$234,999
1,305 SqFt
4 Beds
•2 Full Baths
Sarah Cooper, Listing Office: Downriver Homes LLC
Is Lincoln Park, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, Lincoln Park has remained a Seller's Market.
Key Takeaway
Lincoln Park is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Lincoln Park, MI
How much do homes in Lincoln Park, MI cost?
Median Sold Price
$149,962
$141/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$9,962(+7.1%)
Key Takeaway
Homes in Lincoln Park have sold for 7.1% more than they did a year ago.
Summary: The median home sold price in Lincoln Park was $149,962 in October 2024, up 7.1% from last year, and the median price per square foot was $141.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $92.4K | $75K | -18.8% |
| 2 Bedrooms | $110.7K | $130K | +17.4% |
| 3 Bedrooms | $149.9K | $156.7K | +4.6% |
| 4 Bedrooms | $145K | $167.9K | +15.8% |
| 5+ Bedrooms | $166K | $176K | +6.0% |
Summary: Lincoln Park housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 18.8%, 2 bedroom homes increased by 17.4%, 3 bedroom homes increased by 4.6%, 4 bedroom homes increased by 15.8%, and 5+ bedroom homes increased by 6%.
Median Sold Price Compared To Nearby Cities
| Ecorse | $75K | $84.9K | +13.3% |
| Allen Park | $196.6K | $215K | +9.3% |
| Lincoln Park | $140K | $149.9K | +7.1% |
| Wyandotte | $180K | $190K | +5.6% |
| Melvindale | $140K | $145K | +3.6% |
Housing Supply in Lincoln Park, MI
How many homes are available in Lincoln Park, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 119 | 134 | +12.6% |
Summary: The Lincoln Park real estate market had 134 homes for sale in October 2024, a 12.6% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 32 | 32 | 0.0% |
| 3 Bedrooms | 75 | 93 | +24.0% |
| 4 Bedrooms | 10 | 7 | -30.0% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The Lincoln Park 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 remained the same, 3 bedroom homes increased by 24%, 4 bedroom homes decreased by 30%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 38 | 37 | -2.6% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
27 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lincoln Park, you could pay more than the asking price. 73% of homes here sold above asking price last month.
Summary: A total of 37 homes were sold or pending in Lincoln Park in October 2024, down by 2.6% month-over-month. Of the 37 sold homes, 14% were sold under asking, 14% were sold at asking, and 73% were sold over asking.
Days on Market for Lincoln Park, MI
How long does it take to sell a home in Lincoln Park, MI?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 26 Days | 12 Days | -53.8% |
Summary: Homes in Lincoln Park had an average of 12 days on market in Oct 2024, down by 53.8% compared to last year.
Breakdown of Home Sale Times
33 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Lincoln Park are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 37 homes were sold in Lincoln Park; 89% of homes were sold within 30 days, 11% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
