Is 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, 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, MA
How much do homes in Lowell, MA cost?
Median Sold Price
$460,000
$285/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Lowell have sold for 5.8% more than they did a year ago.
Summary: The median home sold price in Lowell was $460,000 in April 2024, up 5.8% from last year, and the median price per square foot was $285.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $235K | $267.5K | +13.8% |
| 2 Bedrooms | $318.5K | $341K | +7.1% |
| 3 Bedrooms | $445K | $482.5K | +8.4% |
| 4 Bedrooms | $473.5K | $536.4K | +13.3% |
| 5+ Bedrooms | $615K | $645K | +4.9% |
Summary: Lowell housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 13.8%, 2 bedroom homes increased by 7.1%, 3 bedroom homes increased by 8.4%, 4 bedroom homes increased by 13.3%, and 5+ bedroom homes increased by 4.9%.
Median Sold Price Compared To Nearby Cities
| Dracut | $460K | $495K | +7.6% |
| North Chelmsford | $470K | $502.5K | +6.9% |
| Lowell | $434.9K | $460K | +5.8% |
| North Billerica | $635K | $646.5K | +1.8% |
| Chelmsford | $575K | $575.2K | 0.0% |
Housing Supply in Lowell, MA
How many homes are available in Lowell, MA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 153 | 172 | +12.4% |
Summary: The Lowell real estate market had 172 homes for sale in April 2024, a 12.4% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 13 | 14 | +7.7% |
| 2 Bedrooms | 36 | 43 | +19.4% |
| 3 Bedrooms | 42 | 55 | +31.0% |
| 4 Bedrooms | 24 | 30 | +25.0% |
| 5+ Bedrooms | 38 | 30 | -21.1% |
Summary: The Lowell housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 7.7%, 2 bedroom homes increased by 19.4%, 3 bedroom homes increased by 31%, 4 bedroom homes increased by 25%, and 5+ bedroom homes decreased by 21.1%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 48 | 43 | -10.4% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
30 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lowell, you could pay more than the asking price. 69.8% of homes here sold above asking price last month.
Summary: A total of 43 homes were sold or pending in Lowell in April 2024, down by 10.4% month-over-month. Of the 43 sold homes, 21% were sold under asking, 9% were sold at asking, and 70% were sold over asking.
Days on Market for Lowell, MA
How long does it take to sell a home in Lowell, MA?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 22 Days | 24 Days | +8.6% |
Summary: Homes in Lowell had an average of 24 days on market in Apr 2024, up by 8.6% compared to last year.
Breakdown of Home Sale Times
34 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Lowell are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 43 homes were sold in Lowell; 79% of homes were sold within 30 days, 16% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.
