Is Lee, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Lee has remained a Seller's Market.
Housing Prices in Lee, VA
How much do homes in Lee, VA cost?
Median Sold Price
$589,917
$332/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Lee was $589,917 in March 2024, up 2.6% from last year, and the median price per square foot was $332.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $212.5K | $235K | +10.6% |
2 Bedrooms | $390K | $408.2K | +4.7% |
3 Bedrooms | $578.7K | $590K | +1.9% |
4 Bedrooms | $666K | $685K | +2.9% |
5+ Bedrooms | $880K | $835K | -5.1% |
Summary: Lee housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 10.6%, 2 bedroom homes increased by 4.7%, 3 bedroom homes increased by 1.9%, 4 bedroom homes increased by 2.9%, and 5+ bedroom homes decreased by 5.1%.
Median Sold Price Compared To Nearby Cities
Alexandria | $590K | $628.5K | +6.5% |
Alexandria | $600.9K | $630.2K | +4.9% |
Mason | $647.4K | $675K | +4.3% |
Lee | $575K | $589.9K | +2.6% |
Mount Vernon | $650K | $660.6K | +1.6% |
Housing Supply in Lee, VA
How many homes are available in Lee, VA?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
389 | 412 | +5.9% |
Summary: The Lee real estate market had 412 homes for sale in March 2024, a 5.9% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 14 | 14 | 0.0% |
2 Bedrooms | 72 | 62 | -13.9% |
3 Bedrooms | 139 | 155 | +11.5% |
4 Bedrooms | 104 | 113 | +8.7% |
5+ Bedrooms | 60 | 68 | +13.3% |
Summary: The Lee housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 13.9%, 3 bedroom homes increased by 11.5%, 4 bedroom homes increased by 8.7%, and 5+ bedroom homes increased by 13.3%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
85 | 79 | -7.1% |
Asking Price vs. Sold Price
11 Homes Were Sold
Under Asking
14 Homes Were Sold
At Asking
54 Homes Were Sold
Over Asking
Summary: A total of 79 homes were sold or pending in Lee in March 2024, down by 7.1% month-over-month. Of the 79 sold homes, 14% were sold under asking, 18% were sold at asking, and 68% 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
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
14 Days | 9 Days | -36.2% |
Summary: Homes in Lee had an average of 9 days on market in Mar 2024, down by 36.2% compared to last year.
Breakdown of Home Sale Times
73 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During March 2024, 79 homes were sold in Lee; 92% of homes were sold within 30 days, 8% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.