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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing West Lincoln Township is a seller's market

Buyer's
Market

Difference Since February 2023

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

Key Takeaway

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

Housing Prices in West Lincoln Township, IL

How much do homes in West Lincoln Township, IL cost?

Median Sold Price

$100,000

$84/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

-$15,000(-13.0%)

Key Takeaway

Homes in West Lincoln Township have sold for 13% less than they did a year ago.

Summary: The median home sold price in West Lincoln Township was $100,000 in February 2024, down 13% from last year, and the median price per square foot was $84.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $17K$29K
+70.6%
2 $73K$78.5K
+7.5%
3 $122K$120K
-1.6%
4 $225K$169K
-24.9%
5+ $243.7K$210K
-13.8%

Summary: West Lincoln Township housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes increased by 70.6%, 2 bedroom homes increased by 7.5%, 3 bedroom homes decreased by 1.6%, 4 bedroom homes decreased by 24.9%, and 5+ bedroom homes decreased by 13.8%.

Median Sold Price Compared To Nearby Cities

Lincoln
+1.4%
East Lincoln Township
0.5%
West Lincoln Township
-13.0%

Housing Supply in West Lincoln Township, IL

How many homes are available in West Lincoln Township, IL?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
3321-36.4%

Summary: The West Lincoln Township real estate market had 21 homes for sale in February 2024, a 36.4% decrease compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 12
+100.0%
2 85
-37.5%
3 179
-47.1%
4 65
-16.7%
5+ 10
-100.0%

Summary: The West Lincoln Township housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 37.5%, 3 bedroom homes decreased by 47.1%, 4 bedroom homes decreased by 16.7%, and 5+ bedroom homes decreased by 100%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
115-54.5%

Asking Price vs. Sold Price

4 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in West Lincoln Township, you may be able to get a good deal. 80% of homes here sold below asking price last month.

Summary: A total of 5 homes were sold or pending in West Lincoln Township in February 2024, down by 54.5% month-over-month. Of the 5 sold homes, 80% were sold under asking, 20% were sold at asking, and 0% were sold over asking.

Days on Market for West Lincoln Township, IL

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

Average Sale Time

Feb 2023Feb 2024CHANGE
38 Days31 Days-18.5%

Summary: Homes in West Lincoln Township had an average of 31 days on market in Feb 2024, down by 18.5% compared to last year.

Breakdown of Home Sale Times

4 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During February 2024, 5 homes were sold in West Lincoln Township; 80% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 20% 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 27 Days Ago

Newest Listings in West Lincoln Township, IL

Nearby Markets to West Lincoln Township, IL

What housing markets are near West Lincoln Township, IL?