Lincoln, Ca Homes for Sale
As of 2/13/07, there are currently 428 homes for sale in Lincoln, California. The average asking price for Lincoln, CA homes is $636,240. The median asking price for Lincoln, Ca homes is $499,250. The least expensive home for sale in Lincoln, Ca is a 1,032 square foot fixer on E Street, which is listed for $249,900. The most expensive home for sale in Lincoln, Ca is a 7,400 square foot home in Catta Verdera Country Club, which is listed for $3,700,000. To view these homes, along with all other homes for sale in Lincoln, Ca, click Lincoln, Ca homes for sale. If you would like to search for homes in other areas of Placer County, click Placer County homes for sale.
Lincoln, Ca Homes Pending Sale
As of 2/13/07, there are currently 94 homes pending sale in Lincoln, Ca. The average asking price for the homes pending sale in Lincoln, Ca is $640,003. The median asking price for the homes pending sale in Lincoln, CA is $457,500. The least expensive home pending sale in Lincoln, Ca is a 1,106 square foot 1936 home on H Street, which was listed for $269,000 when an offer was accepted. The most expensive home pending sale in Lincoln, Ca is a 3,233 square foot home on 386 acres, which was listed for $8,200,000 when an offer was accepted.
Lincoln, Ca Homes Sold Between November 2006 and January 2007
Based on Metrolist MLS data, there were 145 Lincoln, Ca homes sold between November 2006 and January 2007. This was down 27.1% from the 199 Lincoln, Ca homes sold during the same period a year before and was down 30.3% from the 208 Lincoln, Ca homes sold during the preceding 3 month period.
The average sales price for Lincoln, Ca homes sold between November 2006 and January 2007 was $466,448. This was down 5.7% from the average sales price of $494,813 during the same period a year before and was down 1.3% from the average sales price of $472,541 during the preceding 3 month period.
The median sales price for Lincoln, Ca homes sold between November 2006 and January 2007 was $422,500. This was down 9.5% from the median sales price of $467,056 during the same period a year before, but was up $250 from the median price of $422,250 during the preceding 3 month period.
On average, Lincoln, Ca homes that sold between November 2006 and January 2007 were on the market for 74 days before accepting an offer. This was up from an average of 54 days on market during the same period a year before and up from an average of 62 days on market in the preceding 3 month period.
On average, Lincoln, Ca home sellers dropped their original asking price by 4.1% before a workable offer was received on homes sold between November 2006 and January 2007. On average, the final price that was negotiated was 5.4% below the listing price at the time of the offer. This does not include any additional closing costs that sellers paid or any incentives that new home builders offered during the period.
The largest discount by percentage that was negotiated on a Lincoln, Ca home during the period from November 2006 to January 2007 was a 27.3% discount on a Centex Home in Sky Ranch, which sold for $360,000 after being listed in the MLS for $479,233. The largest over bid on a property sold in Lincoln, Ca during the period was 2.1% on a Pulte Home in Lincoln Crossing, which sold for $520,590 after being listed in the MLS for $509,990.
The least expensive home sold in Lincoln between November 2006 and January 2007 was a 928 square foot bank repo / fixer on Herold Avenue, which was listed for $239,000 and sold for $200,000. The most expensive home sold in Lincoln, Ca during the period was a 3,371 square foot home on 20.9 acres in Serene Estates, which sold for $1,275,000 after asking $1,295,000.
There are currently 428 homes for sale in Lincoln, Ca. An average of 48.33 Lincoln, Ca homes sold per month during the 3 month period from November 2006 to January 2007. Using these statistics we can project that there is currently an 8.9 month supply of homes for sale in Lincoln, Ca. Typically anything over 5 months is considered a buyer's market.
Buying or Selling a Home in Lincoln, Ca
Because it is a buyer's market in Lincoln at this time, buyers can expect to find a large inventory of homes to choose from. They can also expect to be able to negotiate favorable terms with sellers. This can include negotiating a lower price, having the seller pay a larger than normal percentage of the closing costs and in the case of new homes, having buyer incentives thrown in. As stated above, the average discount that buyers were able to negotiate off of the sale price of Lincoln homes sold between November 2006 and January 2007 was 5.4%. Typically, sellers will not accept "low-ball" offers, but on average they have been accepting offers a few percentage points below their asking price and in many cases they are paying a large part of the closing costs, even though we do not have any statistics to measure this.
Sellers can expect their to be less qualified and motivated buyers than there are homes for sale. Because of this, sellers should be prepared to price their homes aggressively and then be prepared to negotiate if an offer is submitted. It is important to stay ahead of the competition when it comes to price. If other similar homes are priced for less they will typically sell first. Homes also need to be presented in their best light, so they need to be clean and free of clutter. Also, anything broken should be fixed before the property is put on the market. Typically, buyers will make an overestimate of what a repair will cost. Performing repairs ahead of time is likely to save a seller money and will improve the chance of a home selling.
If you are considering buying or selling a home in Lincoln, CA or if you have any questions regarding these statistics, please feel free to call us at 916-728-1981, e-mail us at pat@patandalison.com or leave a comment below. We would love to help.
