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

$437,450

$227/sqft

Based on all homes sold in the last 12 months.

Difference Since September 2023

+$5,200(+1.2%)

Key Takeaway

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

Summary: The median home sold price in Lee was $437,450 in September 2024, up 1.2% from last year, and the median price per square foot was $227.

Median Sold Price By Bedroom Count

# BEDSSep 2023Sep 2024CHANGE
1 -$192.8K
N/A
2 $238K$224K
-5.9%
3 $391.2K$420K
+7.3%
4 $496K$540K
+8.9%
5+ $565K$589K
+4.2%

Summary: Lee housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 5.9%, 3 bedroom homes increased by 7.3%, 4 bedroom homes increased by 8.9%, and 5+ bedroom homes increased by 4.2%.

Median Sold Price Compared To Nearby Cities

Remington
+8.1%
Lee
+1.2%
Bealeton
-3.1%
Sumerduck
-7.1%

Housing Supply in Lee, VA

How many homes are available in Lee, VA?

Number of Homes For Sale

Aug 2024Sep 2024CHANGE
7446-37.8%

Summary: The Lee real estate market had 46 homes for sale in September 2024, a 37.8% decrease compared to August 2024.

Homes For Sale By Bedroom Count

# BEDSAug 2024Sep 2024CHANGE
1 00
0.0%
2 92
-77.8%
3 3322
-33.3%
4 2414
-41.7%
5+ 88
0.0%

Summary: The Lee housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 77.8%, 3 bedroom homes decreased by 33.3%, 4 bedroom homes decreased by 41.7%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Aug 2024Sep 2024CHANGE
3612-66.7%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

7 Homes Were Sold
At Asking

3 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Lee, expect to pay close to the asking price. 58.3% of homes here sold near the asking price last month.

Summary: A total of 12 homes were sold or pending in Lee in September 2024, down by 66.7% month-over-month. Of the 12 sold homes, 17% were sold under asking, 58% were sold at asking, and 25% 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
25 Days24 Days-6.7%

Summary: Homes in Lee had an average of 24 days on market in Sep 2024, down by 6.7% compared to last year.

Breakdown of Home Sale Times

10 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

1 Home Was 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, 12 homes were sold in Lee; 83% of homes were sold within 30 days, 8% of homes were sold within 30 to 90 days, and 8% 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 5 Days Ago

Newest Listings in Lee, VA

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