Every month a member of Studio Four8 dives into the Lincoln Consolidated School District Real Estate Market 2023 numbers and breaks down what that means for your local housing market. Stay in the know by subscribing to Studio Four8’s Youtube page.
Are you looking for the February 2023 market update for Lincoln schools?
Hey this is Dan with studio 48 at Berkshire Hathaway HomeServices Snyder & Company realtors.
Let’s get right into that Lincoln housing data, shall we?
So in February of 2023 Lincoln saw at 7.7% reduction in average sales price as compared to last February in 2022. Last February we were looking at $358,000 on average that’s come down to $331,000. What moved more significantly was the median sales price coming down 17% from $380,000 in February of 22 to $315,500 in February of 23.
Now curiously, the percent of list price received actually went up this year, almost 1%, to 103%, whereas last February we were looking at 99.4%. This is telling us that although prices are down, means that that list price was down as well, on average selling above it.
Curiously, the days on market have gone up as well, which might be contributing to that decrease in sales price. Days on Market February of 2023, looking at an average of 32 days that’s up more than 113% from 15 days on Market February of 2022.
Now the good news is that closed sales during the same period actually increased. February of 2022 we were looking at 16 closed sales in Lincoln, February of 23 we’re looking at 18 closed sales for a 12.5% increase.
So that data in Lincoln’s telling me that maybe we’re seeing some more action in the lower price points bringing that median sales price down, days on market looks like it could be bringing the sales price down, but with those lower sales prices, the buyer demand is pushing the price back up over list on average.
Now what does this mean for you? Well every situation is unique, so we would love to talk with you in detail about your situation and how we can make this data work for you to achieve your goals. At the end of the day you need to take this data that’s on a page and apply it with a plan to your situation.
Give us a call here my name is Dan at Studio Four8 at Berkshire Hathaway HomeServices Snyder & Company realtors.