Is Lanexa, VA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Lanexa is a seller's market

Buyer's
Market

Difference Since February 2023

Since last year, Lanexa has remained a Seller's Market.

Key Takeaway

Lanexa is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Lanexa, VA

How much do homes in Lanexa, VA cost?

Median Sold Price

$409,994

$228/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

+$4,994(+1.2%)

Key Takeaway

Homes in Lanexa have sold for 1.2% more than they did a year ago.

Summary: The median home sold price in Lanexa was $409,994 in February 2024, up 1.2% from last year, and the median price per square foot was $228.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $300K$66K
-78.0%
2 $85K$249.9K
+194.0%
3 $372.5K$409.9K
+10.1%
4 $537.1K$564.9K
+5.2%
5+ $730K$945K
+29.5%

Summary: Lanexa housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 78%, 2 bedroom homes increased by 194%, 3 bedroom homes increased by 10.1%, 4 bedroom homes increased by 5.2%, and 5+ bedroom homes increased by 29.5%.

Median Sold Price Compared To Nearby Cities

West Point
+15.2%
Providence Forge
+8.0%
Lanexa
+1.2%
Stonehouse
-1.1%

Housing Supply in Lanexa, VA

How many homes are available in Lanexa, VA?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
2634+30.8%

Summary: The Lanexa real estate market had 34 homes for sale in February 2024, a 30.8% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 01
+100.0%
2 00
0.0%
3 1017
+70.0%
4 1414
0.0%
5+ 22
0.0%

Summary: The Lanexa housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes remained the same, 3 bedroom homes increased by 70%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
06+100.0%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

2 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Lanexa, expect to pay close to the asking price. 50% of homes here sold near the asking price last month.

Summary: A total of 6 homes were sold or pending in Lanexa in February 2024, up by 100.0% month-over-month. Of the 4 sold homes, 25% were sold under asking, 50% were sold at asking, and 25% were sold over asking.

Days on Market for Lanexa, VA

How long does it take to sell a home in Lanexa, VA?

Average Sale Time

Feb 2023Feb 2024CHANGE
68 Days42 Days-38.3%

Summary: Homes in Lanexa had an average of 42 days on market in Feb 2024, down by 38.3% compared to last year.

Breakdown of Home Sale Times

2 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in Lanexa has remained consistent over time.

Summary: During February 2024, 6 homes were sold in Lanexa; 33% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 17% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 27 Days Ago

Newest Listings in Lanexa, VA

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