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 April 2023
Since last year, Lowell Charter Township has remained a Seller's Market.
Key Takeaway
Lowell Charter Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Lowell Charter Township, MI
How much do homes in Lowell Charter Township, MI cost?
Median Sold Price
$400,402
$243/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Lowell Charter Township have sold for 12.6% more than they did a year ago.
Summary: The median home sold price in Lowell Charter Township was $400,402 in April 2024, up 12.6% 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 | $68K | $170K | +150.0% |
| 2 Bedrooms | $280K | $332.5K | +18.8% |
| 3 Bedrooms | $310K | $342.5K | +10.5% |
| 4 Bedrooms | $385K | $455K | +18.2% |
| 5+ Bedrooms | $545K | $519K | -4.8% |
Summary: Lowell Charter Township housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 150%, 2 bedroom homes increased by 18.8%, 3 bedroom homes increased by 10.5%, 4 bedroom homes increased by 18.2%, and 5+ bedroom homes decreased by 4.8%.
Median Sold Price Compared To Nearby Cities
| Lowell | $315K | $399.9K | +27.0% |
| Vergennes Township | $430K | $500K | +16.3% |
| Boston Township | $275K | $310K | +12.7% |
| Lowell Charter Township | $355.5K | $400.4K | +12.6% |
| Ada | $572.8K | $602.5K | +5.2% |
Housing Supply in Lowell Charter Township, MI
How many homes are available in Lowell Charter Township, MI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 41 | 51 | +24.4% |
Summary: The Lowell Charter Township 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 Charter Township 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
Key Takeaway
If you're buying a home in Lowell Charter Township, you could pay more than the asking price. 60% of homes here sold above asking price last month.
Summary: A total of 15 homes were sold or pending in Lowell Charter Township 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 Charter Township, MI
How long does it take to sell a home in Lowell Charter Township, MI?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 21 Days | 23 Days | +7.2% |
Summary: Homes in Lowell Charter Township 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
Key Takeaway
Many homes in Lowell Charter Township are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 15 homes were sold in Lowell Charter Township; 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.
