Is Lakes, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Lakes has remained a Seller's Market.
Housing Prices in Lakes, VA
How much do homes in Lakes, VA cost?
Median Sold Price
$380,000
$229/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Lakes was $380,000 in April 2024, up 7.6% from last year, and the median price per square foot was $229.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $135K | $147.5K | +9.3% |
2 Bedrooms | $349.9K | $367.5K | +5.0% |
3 Bedrooms | $309.4K | $375K | +21.2% |
4 Bedrooms | $682K | $799.9K | +17.3% |
5+ Bedrooms | $1.0M | $977.5K | -7.3% |
Summary: Lakes housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 9.3%, 2 bedroom homes increased by 5%, 3 bedroom homes increased by 21.2%, 4 bedroom homes increased by 17.3%, and 5+ bedroom homes decreased by 7.3%.
Median Sold Price Compared To Nearby Cities
Lynch Station | $263.8K | $293.5K | +11.3% |
Center | $305.9K | $330K | +7.9% |
Lakes | $353K | $380K | +7.6% |
Huddleston | $364.9K | $390K | +6.9% |
Moneta | $517.7K | $470K | -9.2% |
Housing Supply in Lakes, VA
How many homes are available in Lakes, VA?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
127 | 147 | +15.7% |
Summary: The Lakes real estate market had 147 homes for sale in April 2024, a 15.7% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 5 | 6 | +20.0% |
2 Bedrooms | 16 | 20 | +25.0% |
3 Bedrooms | 77 | 77 | 0.0% |
4 Bedrooms | 20 | 31 | +55.0% |
5+ Bedrooms | 9 | 13 | +44.4% |
Summary: The Lakes housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 20%, 2 bedroom homes increased by 25%, 3 bedroom homes remained the same, 4 bedroom homes increased by 55%, and 5+ bedroom homes increased by 44.4%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
31 | 31 | 0.0% |
Asking Price vs. Sold Price
17 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Summary: A total of 31 homes were sold or pending in Lakes in April 2024, the same as the previous month. Of the 31 sold homes, 55% were sold under asking, 23% were sold at asking, and 23% were sold over asking.
Days on Market for Lakes, VA
How long does it take to sell a home in Lakes, VA?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
30 Days | 13 Days | -53.9% |
Summary: Homes in Lakes had an average of 13 days on market in Apr 2024, down by 53.9% compared to last year.
Breakdown of Home Sale Times
11 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During April 2024, 31 homes were sold in Lakes; 35% of homes were sold within 30 days, 3% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.