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.
If you are interested in knowing what the latest real estate market statistics are for the Lincoln Consolidated School District I’m here to share those with you now. This is Sara Maddock with Berkshire Hathaway Home Services Snyder & Company and Studio Four8 and we wanted to just give you the latest on where our sale prices in the Lincoln Consolidated School District, mainly that’s at Ypsilanti township but we’re also including those other areas, anything that would be in that school district.
So we’re still seeing good sale activity in the area in January, this last month we had 24 homes sold which if you can believe it or not is actually double the number of homes that were sold in January of 2022. Still not a lot out there for sale but double what we sold last year. Which we hope means there are going to be more houses on the market to choose from if you’re a buyer in the area.
Prices! The average sale price in Lincoln did go up and we’re at $297,092. We are just pushing at the door of a $300,000 average sale price in Lincoln. That is up 5% over last year, so showing a steady increase. Interestingly, the median sale price in the area was dropping a little bit, just about 6% year over year to $279,375. So take that for what it is we have a higher average sale price, a lower median sale price and that could just have to do with the sample (those 24 houses that sold last month).
Now the average days on Market actually went up quite a bit, almost 41% year over year to 29 days. So if you list your home in Lincoln it may take about a month to get a bottom line sales contract. That’s different from last year. Again it makes sense we had fewer homes for sale, a lot of people who wanted to live in the area, and the average days was therefore less than it is when we had double the number of homes for sale last month. Okay?
Now good news (good news for sellers that is), homes for sale in this past month of January more than half, 58% actually, had multiple bids (we assume) and got a price that was higher than what the home was listed for. So it’s still a good seller’s market over there.
This is Sara Maddock with Studio Four8 and we would love to share more details for you in the Lincoln Consolidated School area. If you are interested in selling your home there, we know each of those neighborhoods intimately. We’d love to talk to you about your specific market segment, your specific price point, and if you’re a buyer: the same. We have a lot of experience there, we have listings coming out next month in the area that we’d love to show you.
Thank you for watching!