Is Lowes Island, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Lowes Island has remained a Seller's Market.
Key Takeaway
Lowes Island is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Lowes Island, VA
How much do homes in Lowes Island, VA cost?
Median Sold Price
$687,500
$254/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Lowes Island have sold for 4.8% less than they did a year ago.
Summary: The median home sold price in Lowes Island was $687,500 in April 2024, down 4.8% from last year, and the median price per square foot was $254.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $425K | $437.5K | +2.9% |
| 3 Bedrooms | $644K | $618.5K | -4.0% |
| 4 Bedrooms | $828K | $910K | +9.9% |
| 5+ Bedrooms | $1.2M | $920K | -23.5% |
Summary: Lowes Island housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 2.9%, 3 bedroom homes decreased by 4%, 4 bedroom homes increased by 9.9%, and 5+ bedroom homes decreased by 23.5%.
Housing Supply in Lowes Island, VA
How many homes are available in Lowes Island, VA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 22 | 30 | +36.4% |
Summary: The Lowes Island real estate market had 30 homes for sale in April 2024, a 36.4% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 1 | 2 | +100.0% |
| 3 Bedrooms | 8 | 6 | -25.0% |
| 4 Bedrooms | 7 | 14 | +100.0% |
| 5+ Bedrooms | 6 | 8 | +33.3% |
Summary: The Lowes Island housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 100%, 3 bedroom homes decreased by 25%, 4 bedroom homes increased by 100%, and 5+ bedroom homes increased by 33.3%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 8 | 8 | 0.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
2 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lowes Island, you could pay more than the asking price. 62.5% of homes here sold above asking price last month.
Summary: A total of 8 homes were sold or pending in Lowes Island in April 2024, the same as the previous month. Of the 8 sold homes, 13% were sold under asking, 25% were sold at asking, and 63% were sold over asking.
Days on Market for Lowes Island, VA
How long does it take to sell a home in Lowes Island, VA?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 7 Days | 8 Days | +14.2% |
Summary: Homes in Lowes Island had an average of 8 days on market in Apr 2024, up by 14.2% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Lowes Island are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 8 homes were sold in Lowes Island; 88% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
