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 May 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

$524,999

$249/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$55,229(+11.8%)

Key Takeaway

Homes in Lincolnwood have sold for 11.8% more than they did a year ago.

Summary: The median home sold price in Lincolnwood was $524,999 in May 2024, up 11.8% from last year, and the median price per square foot was $249.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 -$217.5K
N/A
2 $260K$328.7K
+26.4%
3 $407K$483K
+18.7%
4 $565K$692.4K
+22.6%
5+ $890.5K$1.2M
+35.9%

Summary: Lincolnwood housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 26.4%, 3 bedroom homes increased by 18.7%, 4 bedroom homes increased by 22.6%, and 5+ bedroom homes increased by 35.9%.

Median Sold Price Compared To Nearby Cities

Lincolnwood
+11.8%
Skokie
+5.4%
Niles Township
+5.2%
Chicago
+3.1%

Housing Supply in Lincolnwood, IL

How many homes are available in Lincolnwood, IL?

Number of Homes For Sale

Apr 2024May 2024CHANGE
3647+30.6%

Summary: The Lincolnwood real estate market had 47 homes for sale in May 2024, a 30.6% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 00
0.0%
2 48
+100.0%
3 2125
+19.0%
4 59
+80.0%
5+ 65
-16.7%

Summary: The Lincolnwood housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 100%, 3 bedroom homes increased by 19%, 4 bedroom homes increased by 80%, and 5+ bedroom homes decreased by 16.7%.

Number of Homes Sold

Apr 2024May 2024CHANGE
814+75.0%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

4 Homes Were Sold
At Asking

7 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Lincolnwood, you could pay more than the asking price. 50% of homes here sold above asking price last month.

Summary: A total of 14 homes were sold or pending in Lincolnwood in May 2024, up by 75.0% month-over-month. Of the 14 sold homes, 21% were sold under asking, 29% were sold at asking, and 50% 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

May 2023May 2024CHANGE
21 Days14 Days-33.1%

Summary: Homes in Lincolnwood had an average of 14 days on market in May 2024, down by 33.1% compared to last year.

Breakdown of Home Sale Times

12 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

0 Homes Were 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 May 2024, 14 homes were sold in Lincolnwood; 86% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 0% 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 1 Day Ago

Newest Listings in Lincolnwood, IL

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