$4,691 Closing Credit*
$395,000
1,882 SqFt
4 Beds
•2 Full Baths, 1 Partial
Amanda Rogers, Listing Office: Rogers Neighborhood Realty
Is Lowell, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 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, MI
How much do homes in Lowell, MI cost?
Median Sold Price
$389,950
$244/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$24,950(+6.8%)
Key Takeaway
Homes in Lowell have sold for 6.8% more than they did a year ago.
Summary: The median home sold price in Lowell was $389,950 in October 2024, up 6.8% from last year, and the median price per square foot was $244.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $123K | $212.5K | +72.8% |
| 2 Bedrooms | $275K | $315K | +14.5% |
| 3 Bedrooms | $297.5K | $364.7K | +22.6% |
| 4 Bedrooms | $431K | $445.5K | +3.4% |
| 5+ Bedrooms | $487.9K | $575K | +17.8% |
Summary: Lowell housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 72.8%, 2 bedroom homes increased by 14.5%, 3 bedroom homes increased by 22.6%, 4 bedroom homes increased by 3.4%, and 5+ bedroom homes increased by 17.8%.
Median Sold Price Compared To Nearby Cities
| Vergennes Township | $441K | $525K | +19.0% |
| Lowell | $365K | $389.9K | +6.8% |
| Lowell Charter Township | $368K | $390K | +6.0% |
Housing Supply in Lowell, MI
How many homes are available in Lowell, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 50 | 64 | +28.0% |
Summary: The Lowell real estate market had 64 homes for sale in October 2024, a 28.0% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 9 | 8 | -11.1% |
| 3 Bedrooms | 23 | 27 | +17.4% |
| 4 Bedrooms | 12 | 19 | +58.3% |
| 5+ Bedrooms | 5 | 9 | +80.0% |
Summary: The Lowell housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 11.1%, 3 bedroom homes increased by 17.4%, 4 bedroom homes increased by 58.3%, and 5+ bedroom homes increased by 80%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 11 | 13 | +18.2% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lowell, you may be able to get a good deal. 38.5% of homes here sold below asking price last month.
Summary: A total of 13 homes were sold or pending in Lowell in October 2024, up by 18.2% month-over-month. Of the 13 sold homes, 38% were sold under asking, 23% were sold at asking, and 38% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 18 Days | 34 Days | +85.9% |
Summary: Homes in Lowell had an average of 34 days on market in Oct 2024, up by 85.9% compared to last year.
Breakdown of Home Sale Times
9 Homes Were Sold
Under 30 Days
2 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 October 2024, 13 homes were sold in Lowell; 69% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 15% of homes were sold over 90 days.
