The city of Lincoln is located off of Highway 65 near the cities of Rocklin, Roseville and Wheatland. Over the past decade Lincoln has changed quite a bit in light of exponential growth due to new construction and affordability. According to Forbes in 2007:
The fastest-growing suburb in the country is Lincoln, Calif., just outside Sacramento. Its population jumped from 11,746 to 39,566, or an increase of 236%.
Lincoln has many new communities sprinkled throughout the city (Sun City Lincoln Hills, Markham Ravine Estates, Lincoln Crossing…), but let’s take a look at an area just West of Highway 65 and Downtown Lincoln. This area of town is comprised of houses built around 1930 to 2006 with most houses being constructed between 1950 to 2000. The most common square footage in this area is between 1150-1350.
The graph below shows all sales from the past three years within the defined boundaries above. Sales noted on the graph were limited to houses built between 1920 and 2000. The newly built properties sprinkled throughout this territory could possibly throw off the data a bit, so the most predominant ages for properties were used.
Lincoln Real Estate Market Data for Defined Boundaries:
- 13 sales in the past 90 days
- 61 sales over the past 12 months
- 9 Pending listings
- 1 Active listing
- 12 Active Short Sale listings
Based on the graph there is a pretty clear trend downward over the past three years, wouldn’t you say? It’s also apparent that properties are selling in the current market since there are nine pendings and only a total of thirteen other listings. One important thing to note is that there is a three month supply of short sale inventory since there are about as many current short sales as total sales over the past 90 days. Short sales sometimes take much longer to sell and they can often end in foreclosure too.
The graph is based only on sales price and date of sale, while other relevant factors such as age, condition, level of upgrades, view, size, location, amenities, layout and design among others, were not considered. These other characteristics can have a large impact on the value of a particular home or group of homes within the boundaries above. A more detailed and thorough analysis can be provide for you based upon your real estate needs.
If you have any questions about the data above or any related questions about other portions of Lincoln (newer or older), feel free to contact me at 916-595-3735 or ryan [at] lundquistcompany [dot] com.