Is Lower Lake, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, Lower Lake was a Seller's Market.
Housing Prices in Lower Lake, CA
How much do homes in Lower Lake, CA cost?
Median Sold Price
$510,000
$255/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Lower Lake was $510,000 in March 2024, up 24.7% from last year, and the median price per square foot was $255.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $237.5K | - | N/A |
2 Bedrooms | $424.7K | $460K | +8.3% |
3 Bedrooms | $370K | $535K | +44.6% |
4 Bedrooms | $532.5K | $722.5K | +35.7% |
5+ Bedrooms | - | $677.5K | N/A |
Summary: Lower Lake housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 8.3%, 3 bedroom homes increased by 44.6%, 4 bedroom homes increased by 35.7%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
Lower Lake | $409K | $510K | +24.7% |
Cobb | $325K | $315K | -3.1% |
Clearlake | $235K | $226.5K | -3.6% |
Hidden Valley Lake | $390K | $375K | -3.8% |
Middletown | $391.8K | $376K | -4.0% |
Housing Supply in Lower Lake, CA
How many homes are available in Lower Lake, CA?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
39 | 48 | +23.1% |
Summary: The Lower Lake real estate market had 48 homes for sale in March 2024, a 23.1% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 2 | 0.0% |
2 Bedrooms | 12 | 13 | +8.3% |
3 Bedrooms | 19 | 26 | +36.8% |
4 Bedrooms | 4 | 4 | 0.0% |
5+ Bedrooms | 2 | 3 | +50.0% |
Summary: The Lower Lake housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 8.3%, 3 bedroom homes increased by 36.8%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
1 | 4 | +300.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Summary: A total of 4 homes were sold or pending in Lower Lake in March 2024, up by 300.0% month-over-month. Of the 4 sold homes, 50% were sold under asking, 25% were sold at asking, and 25% 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
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
74 Days | 286 Days | +287.2% |
Summary: Homes in Lower Lake had an average of 286 days on market in Mar 2024, up by 287.2% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During March 2024, 4 homes were sold in Lower Lake; 0% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 50% of homes were sold over 90 days.