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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Lanexa is a seller's market

Buyer's
Market

Difference Since October 2023

At the same time last year, Lanexa was a Buyer's Market.

Key Takeaway

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

Housing Prices in Lanexa, VA

How much do homes in Lanexa, VA cost?

Median Sold Price

$392,750

$227/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$5,250(+1.4%)

Key Takeaway

Homes in Lanexa have sold for 1.4% more than they did a year ago.

Summary: The median home sold price in Lanexa was $392,750 in October 2024, up 1.4% from last year, and the median price per square foot was $227.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 -$145.5K
N/A
2 $243.9K$165K
-32.4%
3 $379.9K$370K
-2.6%
4 $561.2K$657.7K
+17.2%
5+ -$945K
N/A

Summary: Lanexa housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 32.4%, 3 bedroom homes decreased by 2.6%, 4 bedroom homes increased by 17.2%, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Cities

Stonehouse
+6.2%
Providence Forge
+3.6%
Lanexa
+1.4%
West Point
-2.8%

Housing Supply in Lanexa, VA

How many homes are available in Lanexa, VA?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
4640-13.0%

Summary: The Lanexa real estate market had 40 homes for sale in October 2024, a 13.0% decrease compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 11
0.0%
2 62
-66.7%
3 2323
0.0%
4 1412
-14.3%
5+ 22
0.0%

Summary: The Lanexa housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 66.7%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 14.3%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
913+44.4%

Asking Price vs. Sold Price

4 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

3 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Lanexa, you may be able to get a good deal. 44.4% of homes here sold below asking price last month.

Summary: A total of 13 homes were sold or pending in Lanexa in October 2024, up by 44.4% month-over-month. Of the 9 sold homes, 44% were sold under asking, 22% were sold at asking, and 33% were sold over asking.

Days on Market for Lanexa, VA

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

Average Sale Time

Oct 2023Oct 2024CHANGE
21 Days60 Days+186.4%

Summary: Homes in Lanexa had an average of 60 days on market in Oct 2024, up by 186.4% compared to last year.

Breakdown of Home Sale Times

4 Homes Were Sold
Under 30 Days

5 Homes Were Sold
In 30 - 90 Days

4 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in Lanexa has remained consistent over time.

Summary: During October 2024, 13 homes were sold in Lanexa; 31% of homes were sold within 30 days, 38% of homes were sold within 30 to 90 days, and 31% 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 17 Days Ago

Newest Listings in Lanexa, VA

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