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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Lincoln Park is a seller's market

Buyer's
Market

Difference Since May 2021

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.

How much do homes in Lincoln Park, MI cost?

Median Sold Price

$130,000

$119/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2021

+$20,666(+18.9%)

Key Takeaway

Homes in Lincoln Park have sold for 18.9% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSMay 2021May 2022%
1 $825$900
+9.1%
2 $85K$98K
+15.3%
3 $115K$135K
+17.4%
4 $118.5K$157K
+32.5%
5+ $129.9K$158.4K
+22.0%

Median Sold Price Compared To Nearby Cities

Ecorse
+78.6%
Melvindale
+19.3%
Lincoln Park
+18.9%
Wyandotte
+14.3%
Allen Park
+10.8%

How many homes are available in Lincoln Park, MI?

Number of Homes For Sale

Apr 2022May 2022%
111114+2.7%

Homes For Sale By Bedroom Count

# BEDSApr 2022May 2022%
1 30
-100.0%
2 2524
-4.0%
3 7380
+9.6%
4 97
-22.2%
5+ 13
+200.0%

Number of Homes Sold

Apr 2022May 2022%
3639+8.3%

Asking Price vs. Sold Price

7 Homes Were Sold
Under Asking

8 Homes Were Sold
At Asking

24 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Lincoln Park, you could pay more than the asking price. 61.5% of homes here sold above asking price last month.

Average Sale Time

May 2021May 2022%
26 Days8 Days-68.0%

Breakdown of Home Sale Times

37 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 Lincoln Park are selling fast, if you're buying plan to act quickly.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

About Lincoln Park, MI

Homes for sale in Lincoln Park, MI have reached 114. In May 2022 in Lincoln Park, MI there were 2.7% more homes for sale than in April 2022. While the average time on the market in May 2022 was 8 days, the median list price was $130,000. From April 2022 through May 2022, the following changes in listing prices were observed in this housing market: 1 bedroom properties prices increased by 9.1%, prices of 2 bedrooms properties increased by 15.3%, prices of 3 bedrooms properties went up by 17.4%, the cost of 4 bedrooms properties went up by 32.5%, prices of 5 bedrooms properties went up by 22%. Volume of homes for sale changed: the quantity of 1 bedroom homes went down by 100%, 2 bedrooms homes became 4% less available, 3 bedrooms homes inventory increased by 9.6%, number of 4 bedrooms homes decreased by 22.2%, 5 bedrooms homes inventory increased by 200%. While more than 24 listings in Lincoln Park, MI in May 2022 were sold above asking price, there were more than 8 listings sold at asking price, and more than 7 were sold below.

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