Is Lowell, NC 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, NC
How much do homes in Lowell, NC cost?
Median Sold Price
$275,000
$187/sqft
Based on all homes sold in the last 12 months.
Difference Since April 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 $275,000 in April 2024, up 3.8% from last year, and the median price per square foot was $187.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $81K | N/A |
| 2 Bedrooms | $197K | $195K | -1.0% |
| 3 Bedrooms | $274.8K | $281.5K | +2.4% |
| 4 Bedrooms | $317K | $345K | +8.8% |
| 5+ Bedrooms | $250K | $464.5K | +85.8% |
Summary: Lowell housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 1%, 3 bedroom homes increased by 2.4%, 4 bedroom homes increased by 8.8%, and 5+ bedroom homes increased by 85.8%.
Median Sold Price Compared To Nearby Cities
| Lowell | $265K | $275K | +3.8% |
| South Point Township | $374.9K | $375.2K | 0.1% |
| Ranlo | $285K | $263.5K | -7.5% |
Housing Supply in Lowell, NC
How many homes are available in Lowell, NC?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 18 | 16 | -11.1% |
Summary: The Lowell real estate market had 16 homes for sale in April 2024, a 11.1% decrease 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 | 3 | 4 | +33.3% |
| 3 Bedrooms | 12 | 10 | -16.7% |
| 4 Bedrooms | 2 | 1 | -50.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
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 increased by 33.3%, 3 bedroom homes decreased by 16.7%, 4 bedroom homes decreased by 50%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 5 | 5 | 0.0% |
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 April 2024, the same as the previous 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
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 22 Days | 20 Days | -8.9% |
Summary: Homes in Lowell had an average of 20 days on market in Apr 2024, down by 8.9% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 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, 5 homes were sold in Lowell; 60% of homes were sold within 30 days, 40% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
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