$88,400
66.50 Acres
Land
#9973571, Teresa Fannon, Listing Office: Fannon Land & Auction
Is Lee County, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
At the same time last year, Lee County was a Seller's Market.
Key Takeaway
Lee County is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Lee County, VA
How much do homes in Lee County, VA cost?
Median Sold Price
$143,000
$90/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$11,000(+8.3%)
Key Takeaway
Homes in Lee County have sold for 8.3% more than they did a year ago.
Summary: The median home sold price in Lee County was $143,000 in October 2024, up 8.3% from last year, and the median price per square foot was $90.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $75K | $305K | +306.7% |
| 2 Bedrooms | $81.5K | $69.5K | -14.7% |
| 3 Bedrooms | $135K | $136.7K | +1.3% |
| 4 Bedrooms | $219.9K | $196K | -10.9% |
| 5+ Bedrooms | $185K | $324.5K | +75.4% |
Summary: Lee County housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 306.7%, 2 bedroom homes decreased by 14.7%, 3 bedroom homes increased by 1.3%, 4 bedroom homes decreased by 10.9%, and 5+ bedroom homes increased by 75.4%.
Median Sold Price Compared To Nearby Counties
| Wise County | $129.5K | $150K | +15.8% |
| Bell County | $129.9K | $150K | +15.4% |
| Scott County | $165K | $187K | +13.3% |
| Lee County | $132K | $143K | +8.3% |
Housing Supply in Lee County, VA
How many homes are available in Lee County, VA?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 64 | 64 | 0.0% |
Summary: The Lee County real estate market had 64 homes for sale in October 2024, the same as September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 12 | 17 | +41.7% |
| 3 Bedrooms | 36 | 32 | -11.1% |
| 4 Bedrooms | 11 | 10 | -9.1% |
| 5+ Bedrooms | 4 | 4 | 0.0% |
Summary: The Lee County 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 41.7%, 3 bedroom homes decreased by 11.1%, 4 bedroom homes decreased by 9.1%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 7 | 9 | +28.6% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lee County, you may be able to get a good deal. 55.6% of homes here sold below asking price last month.
Summary: A total of 9 homes were sold or pending in Lee County in October 2024, up by 28.6% month-over-month. Of the 9 sold homes, 56% were sold under asking, 0% were sold at asking, and 44% were sold over asking.
Days on Market for Lee County, VA
How long does it take to sell a home in Lee County, VA?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 83 Days | 84 Days | +2.0% |
Summary: Homes in Lee County had an average of 84 days on market in Oct 2024, up by 2% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Lee County has remained consistent over time.
Summary: During October 2024, 9 homes were sold in Lee County; 22% of homes were sold within 30 days, 44% of homes were sold within 30 to 90 days, and 33% of homes were sold over 90 days.
The data relating to real estate for sale on this web site comes in part from the Internet Data exchange (“IDX”) program of the Knoxville Area Association of REALTORS® Multiple Listing Service. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some or all of the listings may not belong to the firm whose website is being visited. Real estate listings held by brokerage firms other than this broker are indicated by detailed information about them such as the name of the listing firms.