$5,759 Closing Credit*
$485,000
2,704 SqFt
5 Beds
•3 Full Baths, 1 Partial
Brandon J Faber, Listing Office: JH Realty Partners
Is Lowell, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 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
$399,900
$196/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$31,900(+8.7%)
Key Takeaway
Homes in Lowell have sold for 8.7% more than they did a year ago.
Summary: The median home sold price in Lowell was $399,900 in November 2024, up 8.7% from last year, and the median price per square foot was $196.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $123K | $212.5K | +72.8% |
| 2 Bedrooms | $349.9K | $298.5K | -14.7% |
| 3 Bedrooms | $291.5K | $365.4K | +25.4% |
| 4 Bedrooms | $444.9K | $475K | +6.8% |
| 5+ Bedrooms | $487.9K | $570K | +16.8% |
Summary: Lowell housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 72.8%, 2 bedroom homes decreased by 14.7%, 3 bedroom homes increased by 25.4%, 4 bedroom homes increased by 6.8%, and 5+ bedroom homes increased by 16.8%.
Median Sold Price Compared To Nearby Cities
| Vergennes Township | $447.5K | $542.5K | +21.2% |
| Lowell | $368K | $399.9K | +8.7% |
| Lowell Charter Township | $368K | $400K | +8.7% |
Housing Supply in Lowell, MI
How many homes are available in Lowell, MI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 68 | 66 | -2.9% |
Summary: The Lowell real estate market had 66 homes for sale in November 2024, a 2.9% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 9 | 8 | -11.1% |
| 3 Bedrooms | 29 | 24 | -17.2% |
| 4 Bedrooms | 20 | 24 | +20.0% |
| 5+ Bedrooms | 9 | 9 | 0.0% |
Summary: The Lowell housing inventory by bedroom type for November 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 decreased by 17.2%, 4 bedroom homes increased by 20%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 15 | 18 | +20.0% |
Asking Price vs. Sold Price
11 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lowell, you may be able to get a good deal. 61.1% of homes here sold below asking price last month.
Summary: A total of 18 homes were sold or pending in Lowell in November 2024, up by 20.0% month-over-month. Of the 18 sold homes, 61% were sold under asking, 17% were sold at asking, and 22% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 34 Days | 25 Days | -25.0% |
Summary: Homes in Lowell had an average of 25 days on market in Nov 2024, down by 25% compared to last year.
Breakdown of Home Sale Times
14 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Lowell are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 18 homes were sold in Lowell; 78% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.
Provided through IDX via MiRealSource, as the “Source MLS”, courtesy of the Originating MLS shown on the property listing, as the Originating MLS.