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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Lee is a seller's market

Buyer's
Market

Difference Since September 2023

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

Key Takeaway

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

Housing Prices in Lee, VA

How much do homes in Lee, VA cost?

Median Sold Price

$615,150

$343/sqft

Based on all homes sold in the last 12 months.

Difference Since September 2023

+$31,422(+5.4%)

Key Takeaway

Homes in Lee have sold for 5.4% more than they did a year ago.

Summary: The median home sold price in Lee was $615,150 in September 2024, up 5.4% from last year, and the median price per square foot was $343.

Median Sold Price By Bedroom Count

# BEDSSep 2023Sep 2024CHANGE
1 $225K$282.5K
+25.6%
2 $399.9K$420K
+5.0%
3 $585.7K$615K
+5.0%
4 $674.3K$710K
+5.3%
5+ $889.7K$825K
-7.3%

Summary: Lee housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes increased by 25.6%, 2 bedroom homes increased by 5%, 3 bedroom homes increased by 5%, 4 bedroom homes increased by 5.3%, and 5+ bedroom homes decreased by 7.3%.

Median Sold Price Compared To Nearby Cities

Mason
+8.2%
Alexandria
+6.3%
Alexandria
+5.6%
Mount Vernon
+5.5%
Lee
+5.4%

Housing Supply in Lee, VA

How many homes are available in Lee, VA?

Number of Homes For Sale

Aug 2024Sep 2024CHANGE
272306+12.5%

Summary: The Lee real estate market had 306 homes for sale in September 2024, a 12.5% increase compared to August 2024.

Homes For Sale By Bedroom Count

# BEDSAug 2024Sep 2024CHANGE
1 610
+66.7%
2 6267
+8.1%
3 113133
+17.7%
4 5462
+14.8%
5+ 3734
-8.1%

Summary: The Lee housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 66.7%, 2 bedroom homes increased by 8.1%, 3 bedroom homes increased by 17.7%, 4 bedroom homes increased by 14.8%, and 5+ bedroom homes decreased by 8.1%.

Number of Homes Sold

Aug 2024Sep 2024CHANGE
10172-28.7%

Asking Price vs. Sold Price

19 Homes Were Sold
Under Asking

20 Homes Were Sold
At Asking

33 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Lee, you could pay more than the asking price. 45.8% of homes here sold above asking price last month.

Summary: A total of 72 homes were sold or pending in Lee in September 2024, down by 28.7% month-over-month. Of the 72 sold homes, 26% were sold under asking, 28% were sold at asking, and 46% were sold over asking.

Days on Market for Lee, VA

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

Average Sale Time

Sep 2023Sep 2024CHANGE
14 Days16 Days+11.8%

Summary: Homes in Lee had an average of 16 days on market in Sep 2024, up by 11.8% compared to last year.

Breakdown of Home Sale Times

57 Homes Were Sold
Under 30 Days

15 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Lee are selling fast, if you're buying plan to act quickly.

Summary: During September 2024, 72 homes were sold in Lee; 79% of homes were sold within 30 days, 21% of homes were sold within 30 to 90 days, and 0% 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 30 Days Ago

Newest Listings in Lee, VA

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