The housing market in Lowell continues to see strong price appreciation, with values up 29.6% compared to last year. Home prices have increased 14.3% in the past month alone. With 23 active listings, inventory is 53% higher than seasonal norms. Homes are now taking an average of 30 days to sell, significantly longer than the 19 days typical for this market. A significant 34.8% of listings experienced price reductions, indicating sellers may be adjusting to market realities. The majority of homes (52.6%) sold above asking price, a clear sign of competitive bidding. Affordability remains a significant challenge in the Lowell market with the affordability index at 21.7. Based on current market indicators, home prices in Lowell are projected to increase by approximately 27.1% over the next month.
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