Is Lincoln, RI 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 has remained a Seller's Market.
Key Takeaway
Lincoln is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Lincoln, RI
How much do homes in Lincoln, RI cost?
Median Sold Price
$465,500
$258/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Lincoln have sold for 9.5% more than they did a year ago.
Summary: The median home sold price in Lincoln was $465,500 in March 2024, up 9.5% from last year, and the median price per square foot was $258.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $157.5K | $138K | -12.4% |
| 2 Bedrooms | $316K | $361.2K | +14.3% |
| 3 Bedrooms | $450K | $480K | +6.7% |
| 4 Bedrooms | $626K | $612.5K | -2.2% |
| 5+ Bedrooms | $497.5K | $546K | +9.7% |
Summary: Lincoln housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 12.4%, 2 bedroom homes increased by 14.3%, 3 bedroom homes increased by 6.7%, 4 bedroom homes decreased by 2.2%, and 5+ bedroom homes increased by 9.7%.
Median Sold Price Compared To Nearby Cities
| Manville | $287.5K | $408K | +41.9% |
| Lincoln | $425K | $465.5K | +9.5% |
| Cumberland | $424.6K | $460K | +8.3% |
| North Smithfield | $432.2K | $435K | +0.6% |
Housing Supply in Lincoln, RI
How many homes are available in Lincoln, RI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 73 | 57 | -21.9% |
Summary: The Lincoln real estate market had 57 homes for sale in March 2024, a 21.9% decrease compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 3 | +50.0% |
| 2 Bedrooms | 25 | 18 | -28.0% |
| 3 Bedrooms | 22 | 16 | -27.3% |
| 4 Bedrooms | 13 | 10 | -23.1% |
| 5+ Bedrooms | 11 | 10 | -9.1% |
Summary: The Lincoln housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes decreased by 28%, 3 bedroom homes decreased by 27.3%, 4 bedroom homes decreased by 23.1%, and 5+ bedroom homes decreased by 9.1%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 28 | 15 | -46.4% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
10 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lincoln, you could pay more than the asking price. 66.7% of homes here sold above asking price last month.
Summary: A total of 15 homes were sold or pending in Lincoln in March 2024, down by 46.4% month-over-month. Of the 15 sold homes, 27% were sold under asking, 7% were sold at asking, and 67% were sold over asking.
Days on Market for Lincoln, RI
How long does it take to sell a home in Lincoln, RI?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 36 Days | 19 Days | -46.8% |
Summary: Homes in Lincoln had an average of 19 days on market in Mar 2024, down by 46.8% compared to last year.
Breakdown of Home Sale Times
12 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Lincoln are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 15 homes were sold in Lincoln; 80% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
