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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Lincoln is a seller's market

Buyer's
Market

Difference Since August 2021

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

Key Takeaway

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

How much do homes in Lincoln, IL cost?

Median Sold Price

$105,000

$78/sqft

Based on all homes sold in the last 12 months.

Difference Since August 2021

+$15,000(+16.7%)

Key Takeaway

Homes in Lincoln have sold for 16.7% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSAug 2021Aug 2022%
1 $36K$29K
-19.4%
2 $70.8K$70K
-1.1%
3 $99.9K$119.2K
+19.3%
4 $140K$150K
+7.1%
5+ $142K$190K
+33.8%

Median Sold Price Compared To Nearby Cities

East Lincoln Township
+20.2%
Lincoln
+16.7%
West Lincoln Township
+9.6%

How many homes are available in Lincoln, IL?

Number of Homes For Sale

Jul 2022Aug 2022%
7355-24.7%

Homes For Sale By Bedroom Count

# BEDSJul 2022Aug 2022%
1 11
0.0%
2 2317
-26.1%
3 3729
-21.6%
4 84
-50.0%
5+ 44
0.0%

Number of Homes Sold

Jul 2022Aug 2022%
2822-21.4%

Asking Price vs. Sold Price

8 Homes Were Sold
Under Asking

8 Homes Were Sold
At Asking

6 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Lincoln, you may be able to get a good deal. 36.4% of homes here sold below asking price last month.

Average Sale Time

Aug 2021Aug 2022%
29 Days12 Days-57.5%

Breakdown of Home Sale Times

18 Homes Were Sold
Under 30 Days

4 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

About Lincoln, IL

Number of homes for sale in Lincoln, IL real estate market have reached 55. The inventory of homes for sale in Lincoln, IL between July 2022 and August 2022 decreased by 24.7%. In August 2022 median list price was $105,000 and the average listing age was 12 days. This housing market listing prices have changed between July 2022 and August 2022: the cost of 1 bedroom properties went down by 19.4%, the cost of 2 bedrooms properties went down by 1.1%, prices of 3 bedrooms properties increased by 19.3%, the cost of 4 bedrooms properties went up by 7.1%, 5 bedrooms properties became 33.8% more expensive. Housing inventory have changed in this real estate market: number of 1 bedroom homes remained the same, 2 bedrooms homes inventory decreased by 26.1%, 3 bedrooms homes became 21.6% less available, 4 bedrooms homes became 50% less available, number of 5 bedrooms homes remained the same. Over 6 listings were sold over their listed price in August 2022 in Lincoln, IL. In the same period over 8 listings were sold below the listed price and 8 listings were sold for the listed price.