Is Lowell, NC 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 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
$266,500
$178/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Lowell have sold for 3.8% more than they did a year ago.
Summary: The median home sold price in Lowell was $266,500 in March 2024, up 3.8% from last year, and the median price per square foot was $178.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $81K | N/A |
| 2 Bedrooms | $190K | $200K | +5.3% |
| 3 Bedrooms | $274.8K | $275K | 0.1% |
| 4 Bedrooms | $380K | $323K | -15.0% |
| 5+ Bedrooms | $250K | $180K | -28.0% |
Summary: Lowell 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 5.3%, 3 bedroom homes increased by 0.1%, 4 bedroom homes decreased by 15%, and 5+ bedroom homes decreased by 28%.
Median Sold Price Compared To Nearby Cities
| Lowell | $256.7K | $266.5K | +3.8% |
| South Point Township | $378.7K | $369.6K | -2.4% |
| Ranlo | $287.5K | $272K | -5.4% |
Housing Supply in Lowell, NC
How many homes are available in Lowell, NC?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 12 | 19 | +58.3% |
Summary: The Lowell real estate market had 19 homes for sale in March 2024, a 58.3% 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 | 1 | 3 | +200.0% |
| 3 Bedrooms | 9 | 14 | +55.6% |
| 4 Bedrooms | 1 | 2 | +100.0% |
| 5+ Bedrooms | 1 | 0 | -100.0% |
Summary: The Lowell 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 200%, 3 bedroom homes increased by 55.6%, 4 bedroom homes increased by 100%, and 5+ bedroom homes decreased by 100%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 0 | 5 | +100.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Lowell, you may be able to get a good deal. 60% of homes here sold below asking price last month.
Summary: A total of 5 homes were sold or pending in Lowell in March 2024, up by 100.0% month-over-month. Of the 5 sold homes, 60% were sold under asking, 20% were sold at asking, and 20% 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
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 19 Days | 48 Days | +148.3% |
Summary: Homes in Lowell had an average of 48 days on market in Mar 2024, up by 148.3% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Lowell are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 5 homes were sold in Lowell; 40% of homes were sold within 30 days, 40% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.
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