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 12 Days Ago

Newest Listings in Lincolnwood, IL

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