Is Lower Lake, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Lower Lake was a Seller's Market.
Housing Prices in Lower Lake, CA
How much do homes in Lower Lake, CA cost?
Median Sold Price
$447,500
$256/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Lower Lake was $447,500 in May 2024, up 5.4% from last year, and the median price per square foot was $256.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $237.5K | - | N/A |
2 Bedrooms | $442.5K | $402.5K | -9.0% |
3 Bedrooms | $387.5K | $429.9K | +10.9% |
4 Bedrooms | $722.5K | $849.7K | +17.6% |
5+ Bedrooms | $925K | $613.7K | -33.6% |
Summary: Lower Lake housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 9%, 3 bedroom homes increased by 10.9%, 4 bedroom homes increased by 17.6%, and 5+ bedroom homes decreased by 33.6%.
Median Sold Price Compared To Nearby Cities
Lower Lake | $424.7K | $447.5K | +5.4% |
Cobb | $304.5K | $307.5K | +1.0% |
Hidden Valley Lake | $389.9K | $375K | -3.8% |
Middletown | $390K | $375K | -3.8% |
Clearlake | $235K | $225.9K | -3.9% |
Housing Supply in Lower Lake, CA
How many homes are available in Lower Lake, CA?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
48 | 50 | +4.2% |
Summary: The Lower Lake real estate market had 50 homes for sale in May 2024, a 4.2% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 3 | +50.0% |
2 Bedrooms | 12 | 9 | -25.0% |
3 Bedrooms | 26 | 27 | +3.8% |
4 Bedrooms | 4 | 5 | +25.0% |
5+ Bedrooms | 4 | 6 | +50.0% |
Summary: The Lower Lake housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes decreased by 25%, 3 bedroom homes increased by 3.8%, 4 bedroom homes increased by 25%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
7 | 2 | -71.4% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Summary: A total of 2 homes were sold or pending in Lower Lake in May 2024, down by 71.4% month-over-month. Of the 2 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for Lower Lake, CA
How long does it take to sell a home in Lower Lake, CA?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
103 Days | 51 Days | -50.7% |
Summary: Homes in Lower Lake had an average of 51 days on market in May 2024, down by 50.7% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During May 2024, 2 homes were sold in Lower Lake; 0% of homes were sold within 30 days, 100% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.