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 September 2023

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.

Housing Prices in Lincoln, IL

How much do homes in Lincoln, IL cost?

Median Sold Price

$113,500

$87/sqft

Based on all homes sold in the last 12 months.

Difference Since September 2023

+$18,000(+18.8%)

Key Takeaway

Homes in Lincoln have sold for 18.8% more than they did a year ago.

Summary: The median home sold price in Lincoln was $113,500 in September 2024, up 18.8% from last year, and the median price per square foot was $87.

Median Sold Price By Bedroom Count

# BEDSSep 2023Sep 2024CHANGE
1 $29K$30K
+3.4%
2 $75.6K$84K
+11.0%
3 $111K$130K
+17.1%
4 $163.5K$158.5K
-3.1%
5+ $165K$201K
+21.8%

Summary: Lincoln housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes increased by 3.4%, 2 bedroom homes increased by 11%, 3 bedroom homes increased by 17.1%, 4 bedroom homes decreased by 3.1%, and 5+ bedroom homes increased by 21.8%.

Median Sold Price Compared To Nearby Cities

Metropolis
+25.6%
Lincoln
+18.8%

Housing Supply in Lincoln, IL

How many homes are available in Lincoln, IL?

Number of Homes For Sale

Aug 2024Sep 2024CHANGE
6769+3.0%

Summary: The Lincoln real estate market had 69 homes for sale in September 2024, a 3.0% increase compared to August 2024.

Homes For Sale By Bedroom Count

# BEDSAug 2024Sep 2024CHANGE
1 22
0.0%
2 2217
-22.7%
3 2632
+23.1%
4 1114
+27.3%
5+ 64
-33.3%

Summary: The Lincoln housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 22.7%, 3 bedroom homes increased by 23.1%, 4 bedroom homes increased by 27.3%, and 5+ bedroom homes decreased by 33.3%.

Number of Homes Sold

Aug 2024Sep 2024CHANGE
16160.0%

Asking Price vs. Sold Price

7 Homes Were Sold
Under Asking

5 Homes Were Sold
At Asking

4 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. 43.8% of homes here sold below asking price last month.

Summary: A total of 16 homes were sold or pending in Lincoln in September 2024, the same as the previous month. Of the 16 sold homes, 44% were sold under asking, 31% were sold at asking, and 25% were sold over asking.

Days on Market for Lincoln, IL

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

Average Sale Time

Sep 2023Sep 2024CHANGE
19 Days25 Days+25.4%

Summary: Homes in Lincoln had an average of 25 days on market in Sep 2024, up by 25.4% compared to last year.

Breakdown of Home Sale Times

11 Homes Were Sold
Under 30 Days

4 Homes Were Sold
In 30 - 90 Days

1 Home Was 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.

Summary: During September 2024, 16 homes were sold in Lincoln; 69% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 6% 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 6 Days Ago

Newest Listings in Lincoln, IL

Nearby Markets to Lincoln, IL

What housing markets are near Lincoln, IL?