Is Lincoln Park, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Lincoln Park has remained a Seller's Market.
Key Takeaway
Lincoln Park is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Lincoln Park, MI
How much do homes in Lincoln Park, MI cost?
Median Sold Price
$146,980
$137/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Lincoln Park have sold for 9.1% more than they did a year ago.
Summary: The median home sold price in Lincoln Park was $146,980 in March 2024, up 9.1% from last year, and the median price per square foot was $137.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $82.4K | $87.4K | +6.1% |
| 2 Bedrooms | $104.9K | $117.1K | +11.6% |
| 3 Bedrooms | $140K | $152.7K | +9.1% |
| 4 Bedrooms | $159.9K | $147.4K | -7.8% |
| 5+ Bedrooms | $133.5K | $152K | +13.9% |
Summary: Lincoln Park housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 6.1%, 2 bedroom homes increased by 11.6%, 3 bedroom homes increased by 9.1%, 4 bedroom homes decreased by 7.8%, and 5+ bedroom homes increased by 13.9%.
Median Sold Price Compared To Nearby Cities
| Allen Park | $183K | $210K | +14.8% |
| Melvindale | $128K | $141.7K | +10.7% |
| Lincoln Park | $134.7K | $146.9K | +9.1% |
| Wyandotte | $170K | $181K | +6.5% |
| Ecorse | $73K | $68K | -6.8% |
Housing Supply in Lincoln Park, MI
How many homes are available in Lincoln Park, MI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 93 | 83 | -10.8% |
Summary: The Lincoln Park real estate market had 83 homes for sale in March 2024, a 10.8% decrease compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 0 | -100.0% |
| 2 Bedrooms | 17 | 16 | -5.9% |
| 3 Bedrooms | 66 | 58 | -12.1% |
| 4 Bedrooms | 7 | 8 | +14.3% |
| 5+ Bedrooms | 2 | 1 | -50.0% |
Summary: The Lincoln Park housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes decreased by 5.9%, 3 bedroom homes decreased by 12.1%, 4 bedroom homes increased by 14.3%, and 5+ bedroom homes decreased by 50%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 40 | 30 | -25.0% |
Asking Price vs. Sold Price
17 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lincoln Park, you may be able to get a good deal. 56.7% of homes here sold below asking price last month.
Summary: A total of 30 homes were sold or pending in Lincoln Park in March 2024, down by 25.0% month-over-month. Of the 30 sold homes, 57% were sold under asking, 17% were sold at asking, and 27% were sold over asking.
Days on Market for Lincoln Park, MI
How long does it take to sell a home in Lincoln Park, MI?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 59 Days | 29 Days | -49.5% |
Summary: Homes in Lincoln Park had an average of 29 days on market in Mar 2024, down by 49.5% compared to last year.
Breakdown of Home Sale Times
20 Homes Were Sold
Under 30 Days
8 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Lincoln Park are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 30 homes were sold in Lincoln Park; 67% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 7% of homes were sold over 90 days.
