Is Lowell, MI 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.
Housing Prices in Lowell, MI
How much do homes in Lowell, MI cost?
Median Sold Price
$399,900
$243/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Lowell was $399,900 in April 2024, up 27% from last year, and the median price per square foot was $243.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $178K | $170K | -4.5% |
2 Bedrooms | $233.5K | $332.5K | +42.4% |
3 Bedrooms | $257.5K | $342.5K | +33.0% |
4 Bedrooms | $355K | $455K | +28.2% |
5+ Bedrooms | $530K | $503.2K | -5.0% |
Summary: Lowell housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 4.5%, 2 bedroom homes increased by 42.4%, 3 bedroom homes increased by 33%, 4 bedroom homes increased by 28.2%, and 5+ bedroom homes decreased by 5%.
Median Sold Price Compared To Nearby Cities
Lowell | $315K | $399.9K | +27.0% |
Vergennes Township | $430K | $500K | +16.3% |
Lowell Charter Township | $355.5K | $400.4K | +12.6% |
Housing Supply in Lowell, MI
How many homes are available in Lowell, MI?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
41 | 51 | +24.4% |
Summary: The Lowell real estate market had 51 homes for sale in April 2024, a 24.4% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 6 | 6 | 0.0% |
3 Bedrooms | 18 | 23 | +27.8% |
4 Bedrooms | 15 | 17 | +13.3% |
5+ Bedrooms | 2 | 5 | +150.0% |
Summary: The Lowell housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 27.8%, 4 bedroom homes increased by 13.3%, and 5+ bedroom homes increased by 150%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
9 | 15 | +66.7% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
9 Homes Were Sold
Over Asking
Summary: A total of 15 homes were sold or pending in Lowell in April 2024, up by 66.7% month-over-month. Of the 15 sold homes, 40% were sold under asking, 0% were sold at asking, and 60% were sold over asking.
Days on Market for Lowell, MI
How long does it take to sell a home in Lowell, MI?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
21 Days | 23 Days | +7.2% |
Summary: Homes in Lowell had an average of 23 days on market in Apr 2024, up by 7.2% compared to last year.
Breakdown of Home Sale Times
11 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During April 2024, 15 homes were sold in Lowell; 73% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.