Is Lincoln Charter Township, MI a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Lincoln Charter Township is a neutral's market

Buyer's
Market

Difference Since February 2023

At the same time last year, Lincoln Charter Township was a Seller's Market.

Key Takeaway

Lincoln Charter Township 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 Charter Township, MI

How much do homes in Lincoln Charter Township, MI cost?

Median Sold Price

$321,500

$199/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

-$28,500(-8.1%)

Key Takeaway

Homes in Lincoln Charter Township have sold for 8.1% less than they did a year ago.

Summary: The median home sold price in Lincoln Charter Township was $321,500 in February 2024, down 8.1% from last year, and the median price per square foot was $199.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $171.1K$187K
+9.3%
2 $180K$215K
+19.4%
3 $260K$280K
+7.7%
4 $385.2K$416.7K
+8.2%
5+ $517.5K$550.8K
+6.4%

Summary: Lincoln Charter Township housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes increased by 9.3%, 2 bedroom homes increased by 19.4%, 3 bedroom homes increased by 7.7%, 4 bedroom homes increased by 8.2%, and 5+ bedroom homes increased by 6.4%.

Median Sold Price Compared To Nearby Cities

Saint Joseph Charter Township
+16.7%
Stevensville
+16.0%
Royalton Township
-1.5%
Lincoln Charter Township
-8.1%

Housing Supply in Lincoln Charter Township, MI

How many homes are available in Lincoln Charter Township, MI?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
3738+2.7%

Summary: The Lincoln Charter Township real estate market had 38 homes for sale in February 2024, a 2.7% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 00
0.0%
2 23
+50.0%
3 1212
0.0%
4 2019
-5.0%
5+ 34
+33.3%

Summary: The Lincoln Charter Township housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 50%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 5%, and 5+ bedroom homes increased by 33.3%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
106-40.0%

Asking Price vs. Sold Price

4 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Lincoln Charter Township, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.

Summary: A total of 6 homes were sold or pending in Lincoln Charter Township in February 2024, down by 40.0% month-over-month. Of the 6 sold homes, 67% were sold under asking, 17% were sold at asking, and 17% were sold over asking.

Days on Market for Lincoln Charter Township, MI

How long does it take to sell a home in Lincoln Charter Township, MI?

Average Sale Time

Feb 2023Feb 2024CHANGE
37 Days84 Days+123.5%

Summary: Homes in Lincoln Charter Township had an average of 84 days on market in Feb 2024, up by 123.5% compared to last year.

Breakdown of Home Sale Times

1 Home Was Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

3 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Most homes in Lincoln Charter Township are taking a long time to sell, it's a good idea to negotiate on homes here.

Summary: During February 2024, 6 homes were sold in Lincoln Charter Township; 17% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 50% 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 Lincoln Charter Township, MI

Nearby Markets to Lincoln Charter Township, MI

What housing markets are near Lincoln Charter Township, MI?