Is Downtown Lowell, MA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Downtown Lowell has remained a Seller's Market.
Housing Prices in Downtown Lowell, MA
How much do homes in Downtown Lowell, MA cost?
Median Sold Price
$340,000
$313/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Downtown Lowell was $340,000 in April 2024, up 5.3% from last year, and the median price per square foot was $313.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $240K | $287.5K | +19.8% |
2 Bedrooms | $396.5K | $346.7K | -12.5% |
3 Bedrooms | $575K | $597.2K | +3.9% |
4 Bedrooms | $475K | - | N/A |
5+ Bedrooms | $510K | $535K | +4.9% |
Summary: Downtown Lowell housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 19.8%, 2 bedroom homes decreased by 12.5%, 3 bedroom homes increased by 3.9%, 4 bedroom homes did not change, and 5+ bedroom homes increased by 4.9%.
Median Sold Price Compared To Nearby Neighborhoods
Downtown Lowell | $322.8K | $340K | +5.3% |
Centralville | $415K | $430K | +3.6% |
Back Central | $424.9K | $420K | -1.2% |
Housing Supply in Downtown Lowell, MA
How many homes are available in Downtown Lowell, MA?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
15 | 15 | 0.0% |
Summary: The Downtown Lowell real estate market had 15 homes for sale in April 2024, the same as March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 6 | 5 | -16.7% |
2 Bedrooms | 9 | 10 | +11.1% |
3 Bedrooms | 0 | 0 | 0.0% |
4 Bedrooms | 0 | 0 | 0.0% |
5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Downtown Lowell housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 16.7%, 2 bedroom homes increased by 11.1%, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
2 | 5 | +150.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
2 Homes Were Sold
Over Asking
Summary: A total of 5 homes were sold or pending in Downtown Lowell in April 2024, up by 150.0% month-over-month. Of the 5 sold homes, 40% were sold under asking, 20% were sold at asking, and 40% were sold over asking.
Days on Market for Downtown Lowell, MA
How long does it take to sell a home in Downtown Lowell, MA?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
18 Days | 17 Days | -7.9% |
Summary: Homes in Downtown Lowell had an average of 17 days on market in Apr 2024, down by 7.9% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During April 2024, 5 homes were sold in Downtown Lowell; 80% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.