Anyone who is moving to Lowell or moving in Lowell will want to understand how the real estate market in this city is doing and what one can expect from it in the future. The following overview can help a person make wise decisions regarding where, when and how to move. Trends The real estate lowell ma is doing well overall. There are more buyers than available houses, leading in many cases to a bidding war for housing. Condominiums and single story homes are particularly popular, as aging Lowell residents are offering their two or three story homes for sale and moving into a house or condo with a single floor.

Prices The value of a house in Lowell has, overall, been decreasing slightly. The percentage rate of this decrease depends on which neighborhood one lives in; however, housing value has shrunk by anywhere from 2.9% to over 8%. On the other hand, some popular neighborhoods have seen a rise in housing value. These neighborhoods include Belvidere and The Acre. The median cost of buying a home is lower than the Massachusetts average, making Lowell an ideal place to live for those who want to live in this state but cannot afford to live in an expensive city. While average rents are lower than the Massachusetts average as well, they are higher than the national average, making Lowell a good place to invest in real estate to rent out.

The Area Lowell is a safe place to live, as the crime rate is quite low throughout the city. Lowell also gets high marks for offering convenient amenities throughout town. Those who live here should have no trouble finding a good place to eat, a suitable grocery store near the house and/or public transport in accessible locations. Additionally, homeowners and tenants in the city earn a higher average annual salary than the national average.

Lowell may not be perfect but it has a lot going for it. The real estate market is doing particularly well; even so, homes, apartments and condos are still more affordable than in other parts of Massachusetts.

Those who want to live in this northeastern state may want to seriously consider investing in a house, apartment or condo in the city in the near future in order to get a good deal.