Is Lowell, NC a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 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
$272,450
$187/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Lowell have sold for 1.3% more than they did a year ago.
Summary: The median home sold price in Lowell was $272,450 in May 2024, up 1.3% from last year, and the median price per square foot was $187.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $81K | N/A |
| 2 Bedrooms | $197K | $200K | +1.5% |
| 3 Bedrooms | $276K | $282K | +2.2% |
| 4 Bedrooms | $315.5K | $345K | +9.4% |
| 5+ Bedrooms | $250K | $464.5K | +85.8% |
Summary: Lowell 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 increased by 1.5%, 3 bedroom homes increased by 2.2%, 4 bedroom homes increased by 9.4%, and 5+ bedroom homes increased by 85.8%.
Median Sold Price Compared To Nearby Cities
| Lowell | $269K | $272.4K | +1.3% |
| South Point Township | $374.7K | $375.2K | 0.1% |
| Ranlo | $277.4K | $254.5K | -8.3% |
Housing Supply in Lowell, NC
How many homes are available in Lowell, NC?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 16 | 19 | +18.8% |
Summary: The Lowell real estate market had 19 homes for sale in May 2024, a 18.8% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 5 | 6 | +20.0% |
| 3 Bedrooms | 9 | 9 | 0.0% |
| 4 Bedrooms | 1 | 3 | +200.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Lowell housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 20%, 3 bedroom homes remained the same, 4 bedroom homes increased by 200%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 5 | 4 | -20.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lowell, you may be able to get a good deal. 75% of homes here sold below asking price last month.
Summary: A total of 4 homes were sold or pending in Lowell in May 2024, down by 20.0% month-over-month. Of the 4 sold homes, 75% were sold under asking, 25% were sold at asking, and 0% 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
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 7 Days | 11 Days | +51.7% |
Summary: Homes in Lowell had an average of 11 days on market in May 2024, up by 51.7% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
0 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 May 2024, 4 homes were sold in Lowell; 75% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
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