Is Lower Lake, CA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Lower Lake is a buyer's market

Buyer's
Market

Difference Since May 2023

At the same time last year, Lower Lake was a Seller's Market.

Key Takeaway

Lower Lake is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in Lower Lake, CA

How much do homes in Lower Lake, CA cost?

Median Sold Price

$447,500

$256/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$22,750(+5.4%)

Key Takeaway

Homes in Lower Lake have sold for 5.4% more than they did a year ago.

Summary: The median home sold price in Lower Lake was $447,500 in May 2024, up 5.4% from last year, and the median price per square foot was $256.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $237.5K-
N/A
2 $442.5K$402.5K
-9.0%
3 $387.5K$429.9K
+10.9%
4 $722.5K$849.7K
+17.6%
5+ $925K$613.7K
-33.6%

Summary: Lower Lake housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 9%, 3 bedroom homes increased by 10.9%, 4 bedroom homes increased by 17.6%, and 5+ bedroom homes decreased by 33.6%.

Median Sold Price Compared To Nearby Cities

Lower Lake
+5.4%
Cobb
+1.0%
Hidden Valley Lake
-3.8%
Middletown
-3.8%
Clearlake
-3.9%

Housing Supply in Lower Lake, CA

How many homes are available in Lower Lake, CA?

Number of Homes For Sale

Apr 2024May 2024CHANGE
4850+4.2%

Summary: The Lower Lake real estate market had 50 homes for sale in May 2024, a 4.2% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 23
+50.0%
2 129
-25.0%
3 2627
+3.8%
4 45
+25.0%
5+ 46
+50.0%

Summary: The Lower Lake housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes decreased by 25%, 3 bedroom homes increased by 3.8%, 4 bedroom homes increased by 25%, and 5+ bedroom homes increased by 50%.

Number of Homes Sold

Apr 2024May 2024CHANGE
72-71.4%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Lower Lake, you may be able to get a good deal. 100% of homes here sold below asking price last month.

Summary: A total of 2 homes were sold or pending in Lower Lake in May 2024, down by 71.4% month-over-month. Of the 2 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.

Days on Market for Lower Lake, CA

How long does it take to sell a home in Lower Lake, CA?

Average Sale Time

May 2023May 2024CHANGE
103 Days51 Days-50.7%

Summary: Homes in Lower Lake had an average of 51 days on market in May 2024, down by 50.7% compared to last year.

Breakdown of Home Sale Times

0 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in Lower Lake has remained consistent over time.

Summary: During May 2024, 2 homes were sold in Lower Lake; 0% of homes were sold within 30 days, 100% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 13 Days Ago

Newest Listings in Lower Lake, CA

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