Is Lowell Charter Township, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Lowell Charter Township has remained a Seller's Market.
Housing Prices in Lowell Charter Township, MI
How much do homes in Lowell Charter Township, MI cost?
Median Sold Price
$400,967
$242/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Lowell Charter Township was $400,967 in March 2024, up 13.1% from last year, and the median price per square foot was $242.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $68K | $170K | +150.0% |
2 Bedrooms | $293K | $332.5K | +13.5% |
3 Bedrooms | $307K | $337.5K | +9.9% |
4 Bedrooms | $379.9K | $450K | +18.4% |
5+ Bedrooms | $572.5K | $478.7K | -16.4% |
Summary: Lowell Charter Township housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 150%, 2 bedroom homes increased by 13.5%, 3 bedroom homes increased by 9.9%, 4 bedroom homes increased by 18.4%, and 5+ bedroom homes decreased by 16.4%.
Median Sold Price Compared To Nearby Cities
Lowell | $310K | $400K | +29.0% |
Boston Township | $269K | $316.5K | +17.7% |
Vergennes Township | $425K | $494.5K | +16.4% |
Lowell Charter Township | $354.4K | $400.9K | +13.1% |
Ada | $575K | $600K | +4.3% |
Housing Supply in Lowell Charter Township, MI
How many homes are available in Lowell Charter Township, MI?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
37 | 38 | +2.7% |
Summary: The Lowell Charter Township real estate market had 38 homes for sale in March 2024, a 2.7% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 6 | 5 | -16.7% |
3 Bedrooms | 17 | 14 | -17.6% |
4 Bedrooms | 12 | 16 | +33.3% |
5+ Bedrooms | 2 | 3 | +50.0% |
Summary: The Lowell Charter Township 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 decreased by 16.7%, 3 bedroom homes decreased by 17.6%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
13 | 8 | -38.5% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Summary: A total of 8 homes were sold or pending in Lowell Charter Township in March 2024, down by 38.5% month-over-month. Of the 8 sold homes, 25% were sold under asking, 50% were sold at asking, and 25% were sold over asking.
Days on Market for Lowell Charter Township, MI
How long does it take to sell a home in Lowell Charter Township, MI?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
44 Days | 151 Days | +238.1% |
Summary: Homes in Lowell Charter Township had an average of 151 days on market in Mar 2024, up by 238.1% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
6 Homes Were Sold
Over 90 Days
Summary: During March 2024, 8 homes were sold in Lowell Charter Township; 25% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 75% of homes were sold over 90 days.