$8,312 Closing Credit*
$699,950
2,080 SqFt
3 Beds
•2 Full Baths, 2 Partial
Cynthia Schneider, Listing Office: Long & Foster Real Estate, Inc.
Is Lee, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 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
$624,368
$344/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$39,118(+6.7%)
Key Takeaway
Homes in Lee have sold for 6.7% more than they did a year ago.
Summary: The median home sold price in Lee was $624,368 in November 2024, up 6.7% from last year, and the median price per square foot was $344.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $229.5K | $230K | 0.2% |
| 2 Bedrooms | $405K | $425K | +4.9% |
| 3 Bedrooms | $585K | $622.3K | +6.4% |
| 4 Bedrooms | $681.5K | $718.3K | +5.4% |
| 5+ Bedrooms | $825K | $850K | +3.0% |
Summary: Lee housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 0.2%, 2 bedroom homes increased by 4.9%, 3 bedroom homes increased by 6.4%, 4 bedroom homes increased by 5.4%, and 5+ bedroom homes increased by 3%.
Median Sold Price Compared To Nearby Cities
| Mount Vernon | $655K | $714.6K | +9.1% |
| Alexandria | $622.3K | $671.4K | +7.9% |
| Mason | $657.2K | $706.2K | +7.5% |
| Alexandria | $624.6K | $668.4K | +7.0% |
| Lee | $585.2K | $624.3K | +6.7% |
Housing Supply in Lee, VA
How many homes are available in Lee, VA?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 275 | 281 | +2.2% |
Summary: The Lee real estate market had 281 homes for sale in November 2024, a 2.2% increase compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 6 | 7 | +16.7% |
| 2 Bedrooms | 59 | 61 | +3.4% |
| 3 Bedrooms | 120 | 124 | +3.3% |
| 4 Bedrooms | 62 | 61 | -1.6% |
| 5+ Bedrooms | 28 | 28 | 0.0% |
Summary: The Lee housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 16.7%, 2 bedroom homes increased by 3.4%, 3 bedroom homes increased by 3.3%, 4 bedroom homes decreased by 1.6%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 95 | 89 | -6.3% |
Asking Price vs. Sold Price
25 Homes Were Sold
Under Asking
25 Homes Were Sold
At Asking
39 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lee, you could pay more than the asking price. 43.8% of homes here sold above asking price last month.
Summary: A total of 89 homes were sold or pending in Lee in November 2024, down by 6.3% month-over-month. Of the 89 sold homes, 28% were sold under asking, 28% were sold at asking, and 44% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 17 Days | 20 Days | +18.7% |
Summary: Homes in Lee had an average of 20 days on market in Nov 2024, up by 18.7% compared to last year.
Breakdown of Home Sale Times
67 Homes Were Sold
Under 30 Days
19 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Lee are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 89 homes were sold in Lee; 75% of homes were sold within 30 days, 21% of homes were sold within 30 to 90 days, and 3% of homes were sold over 90 days.
