$9,726 Closing Credit*
$819,000
3,281 SqFt
3 Beds
•3 Full Baths, 1 Partial
Rachel A Rajala, Listing Office: EXP Realty, LLC
Is Lowes Island, 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, 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
$770,050
$270/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$95,050(+14.1%)
Key Takeaway
Homes in Lowes Island have sold for 14.1% more than they did a year ago.
Summary: The median home sold price in Lowes Island was $770,050 in October 2024, up 14.1% from last year, and the median price per square foot was $270.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $430K | $453.7K | +5.5% |
| 3 Bedrooms | $632.5K | $630K | -0.4% |
| 4 Bedrooms | $875K | $975K | +11.4% |
| 5+ Bedrooms | $910K | $1.0M | +17.1% |
Summary: Lowes Island 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 increased by 5.5%, 3 bedroom homes decreased by 0.4%, 4 bedroom homes increased by 11.4%, and 5+ bedroom homes increased by 17.1%.
Median Sold Price Compared To Nearby Neighborhoods
| Lowes Island | $675K | $770K | +14.1% |
| Central Parke at Lowes Island | $450K | $460.7K | +2.4% |
Housing Supply in Lowes Island, VA
How many homes are available in Lowes Island, VA?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 21 | 25 | +19.0% |
Summary: The Lowes Island real estate market had 25 homes for sale in October 2024, a 19.0% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 2 | 2 | 0.0% |
| 3 Bedrooms | 5 | 5 | 0.0% |
| 4 Bedrooms | 12 | 14 | +16.7% |
| 5+ Bedrooms | 2 | 4 | +100.0% |
Summary: The Lowes Island 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 remained the same, 3 bedroom homes remained the same, 4 bedroom homes increased by 16.7%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 8 | 9 | +12.5% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
1 Home Was 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. 55.6% of homes here sold above asking price last month.
Summary: A total of 9 homes were sold or pending in Lowes Island in October 2024, up by 12.5% month-over-month. Of the 9 sold homes, 33% were sold under asking, 11% were sold at asking, and 56% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 9 Days | 14 Days | +54.0% |
Summary: Homes in Lowes Island had an average of 14 days on market in Oct 2024, up by 54% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
2 Homes Were 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 October 2024, 9 homes were sold in Lowes Island; 78% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
