Is Lowell, NC a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Lowell is a seller's market

Buyer's
Market

Difference Since May 2023

Since last year, Lowell has remained a Seller's Market.

Key Takeaway

Lowell is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Lowell, NC

How much do homes in Lowell, NC cost?

Median Sold Price

$272,450

$187/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$3,450(+1.3%)

Key Takeaway

Homes in Lowell have sold for 1.3% more than they did a year ago.

Summary: The median home sold price in Lowell was $272,450 in May 2024, up 1.3% from last year, and the median price per square foot was $187.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 -$81K
N/A
2 $197K$200K
+1.5%
3 $276K$282K
+2.2%
4 $315.5K$345K
+9.4%
5+ $250K$464.5K
+85.8%

Summary: Lowell 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 increased by 1.5%, 3 bedroom homes increased by 2.2%, 4 bedroom homes increased by 9.4%, and 5+ bedroom homes increased by 85.8%.

Median Sold Price Compared To Nearby Cities

Lowell
+1.3%
South Point Township
0.1%
Ranlo
-8.3%

Housing Supply in Lowell, NC

How many homes are available in Lowell, NC?

Number of Homes For Sale

Apr 2024May 2024CHANGE
1619+18.8%

Summary: The Lowell real estate market had 19 homes for sale in May 2024, a 18.8% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 00
0.0%
2 56
+20.0%
3 99
0.0%
4 13
+200.0%
5+ 11
0.0%

Summary: The Lowell housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 20%, 3 bedroom homes remained the same, 4 bedroom homes increased by 200%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Apr 2024May 2024CHANGE
54-20.0%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Lowell, you may be able to get a good deal. 75% of homes here sold below asking price last month.

Summary: A total of 4 homes were sold or pending in Lowell in May 2024, down by 20.0% month-over-month. Of the 4 sold homes, 75% were sold under asking, 25% were sold at asking, and 0% were sold over asking.

Days on Market for Lowell, NC

How long does it take to sell a home in Lowell, NC?

Average Sale Time

May 2023May 2024CHANGE
7 Days11 Days+51.7%

Summary: Homes in Lowell had an average of 11 days on market in May 2024, up by 51.7% compared to last year.

Breakdown of Home Sale Times

3 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Lowell are selling fast, if you're buying plan to act quickly.

Summary: During May 2024, 4 homes were sold in Lowell; 75% of homes were sold within 30 days, 0% 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 12 Days Ago

Newest Listings in Lowell, NC

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