Is Lee County, 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 County has remained a Seller's Market.
Housing Prices in Lee County, VA
How much do homes in Lee County, VA cost?
Median Sold Price
$125,000
$81/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Lee County was $125,000 in March 2024, up 4.2% from last year, and the median price per square foot was $81.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $169.2K | $70.5K | -58.3% |
2 Bedrooms | $82.5K | $66K | -20.0% |
3 Bedrooms | $120K | $126.5K | +5.4% |
4 Bedrooms | $146.1K | $170K | +16.4% |
5+ Bedrooms | $345K | $190.5K | -44.8% |
Summary: Lee County housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 58.3%, 2 bedroom homes decreased by 20%, 3 bedroom homes increased by 5.4%, 4 bedroom homes increased by 16.4%, and 5+ bedroom homes decreased by 44.8%.
Median Sold Price Compared To Nearby Counties
Scott County | $160K | $173K | +8.1% |
Lee County | $120K | $125K | +4.2% |
Wise County | $139.1K | $134K | -3.7% |
Bell County | $131K | $124K | -5.3% |
Housing Supply in Lee County, VA
How many homes are available in Lee County, VA?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
61 | 70 | +14.8% |
Summary: The Lee County real estate market had 70 homes for sale in March 2024, a 14.8% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 2 | +100.0% |
2 Bedrooms | 10 | 11 | +10.0% |
3 Bedrooms | 34 | 37 | +8.8% |
4 Bedrooms | 10 | 14 | +40.0% |
5+ Bedrooms | 6 | 6 | 0.0% |
Summary: The Lee County housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 10%, 3 bedroom homes increased by 8.8%, 4 bedroom homes increased by 40%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
5 | 14 | +180.0% |
Asking Price vs. Sold Price
11 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Summary: A total of 14 homes were sold or pending in Lee County in March 2024, up by 180.0% month-over-month. Of the 14 sold homes, 79% were sold under asking, 14% were sold at asking, and 7% were sold over asking.
Days on Market for Lee County, VA
How long does it take to sell a home in Lee County, VA?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
88 Days | 122 Days | +37.8% |
Summary: Homes in Lee County had an average of 122 days on market in Mar 2024, up by 37.8% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
7 Homes Were Sold
Over 90 Days
Summary: During March 2024, 14 homes were sold in Lee County; 21% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 50% of homes were sold over 90 days.