$5,047 Closing Credit*
$425,000
1,134 SqFt
2 Beds
•2 Full Baths
Shelia I Jackson, 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 October 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
$621,411
$343/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$41,261(+7.1%)
Key Takeaway
Homes in Lee have sold for 7.1% more than they did a year ago.
Summary: The median home sold price in Lee was $621,411 in October 2024, up 7.1% from last year, and the median price per square foot was $343.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $225K | $280K | +24.4% |
| 2 Bedrooms | $401.6K | $424K | +5.6% |
| 3 Bedrooms | $585.2K | $615K | +5.1% |
| 4 Bedrooms | $677.5K | $713K | +5.2% |
| 5+ Bedrooms | $857.5K | $830K | -3.2% |
Summary: Lee housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 24.4%, 2 bedroom homes increased by 5.6%, 3 bedroom homes increased by 5.1%, 4 bedroom homes increased by 5.2%, and 5+ bedroom homes decreased by 3.2%.
Median Sold Price Compared To Nearby Cities
| Mason | $653.3K | $711K | +8.8% |
| Mount Vernon | $655K | $704.9K | +7.6% |
| Alexandria | $619.6K | $665.6K | +7.4% |
| Lee | $580.1K | $621.4K | +7.1% |
| Alexandria | $625.1K | $663.6K | +6.2% |
Housing Supply in Lee, VA
How many homes are available in Lee, VA?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 267 | 293 | +9.7% |
Summary: The Lee real estate market had 293 homes for sale in October 2024, a 9.7% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 6 | 6 | 0.0% |
| 2 Bedrooms | 61 | 63 | +3.3% |
| 3 Bedrooms | 116 | 128 | +10.3% |
| 4 Bedrooms | 53 | 65 | +22.6% |
| 5+ Bedrooms | 31 | 31 | 0.0% |
Summary: The Lee 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 increased by 3.3%, 3 bedroom homes increased by 10.3%, 4 bedroom homes increased by 22.6%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 89 | 90 | +1.1% |
Asking Price vs. Sold Price
22 Homes Were Sold
Under Asking
36 Homes Were Sold
At Asking
32 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lee, expect to pay close to the asking price. 40% of homes here sold near the asking price last month.
Summary: A total of 90 homes were sold or pending in Lee in October 2024, up by 1.1% month-over-month. Of the 90 sold homes, 24% were sold under asking, 40% were sold at asking, and 36% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 15 Days | 21 Days | +40.2% |
Summary: Homes in Lee had an average of 21 days on market in Oct 2024, up by 40.2% compared to last year.
Breakdown of Home Sale Times
66 Homes Were Sold
Under 30 Days
21 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 October 2024, 90 homes were sold in Lee; 73% of homes were sold within 30 days, 23% of homes were sold within 30 to 90 days, and 3% of homes were sold over 90 days.
