Is Lincoln, DE a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Lincoln was a Buyer's Market.
Key Takeaway
Lincoln is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Lincoln, DE
How much do homes in Lincoln, DE cost?
Median Sold Price
$447,500
$207/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Lincoln have sold for 42.1% more than they did a year ago.
Summary: The median home sold price in Lincoln was $447,500 in May 2024, up 42.1% from last year, and the median price per square foot was $207.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $250K | $257.5K | +3.0% |
| 3 Bedrooms | $315K | $362K | +14.9% |
| 4 Bedrooms | $450K | $495K | +10.0% |
| 5+ Bedrooms | - | $395K | N/A |
Summary: Lincoln 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 3%, 3 bedroom homes increased by 14.9%, 4 bedroom homes increased by 10%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Lincoln | $315K | $447.5K | +42.1% |
| Milford | $302.4K | $341.8K | +13.0% |
| Milford South | $315K | $354.7K | +12.6% |
| Milford | $314.9K | $340.6K | +8.2% |
| Bridgeville-Greenwood | $335K | $330K | -1.5% |
Housing Supply in Lincoln, DE
How many homes are available in Lincoln, DE?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 26 | 34 | +30.8% |
Summary: The Lincoln real estate market had 34 homes for sale in May 2024, a 30.8% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 2 | 2 | 0.0% |
| 3 Bedrooms | 16 | 21 | +31.3% |
| 4 Bedrooms | 5 | 8 | +60.0% |
| 5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The Lincoln 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 remained the same, 3 bedroom homes increased by 31.3%, 4 bedroom homes increased by 60%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 1 | 5 | +400.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
2 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lincoln, expect to pay close to the asking price. 40% of homes here sold near the asking price last month.
Summary: A total of 5 homes were sold or pending in Lincoln in May 2024, up by 400.0% month-over-month. Of the 5 sold homes, 20% were sold under asking, 40% were sold at asking, and 40% were sold over asking.
Days on Market for Lincoln, DE
How long does it take to sell a home in Lincoln, DE?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 84 Days | 18 Days | -78.4% |
Summary: Homes in Lincoln had an average of 18 days on market in May 2024, down by 78.4% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Lincoln are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 5 homes were sold in Lincoln; 80% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
