$5,556 Closing Credit*
$467,900
1,692 SqFt
2 Beds
•2 Full Baths
Inez M Forest, Listing Office: Long & Foster Real Estate, Inc.
Is Lowes Island, 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, 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
$775,000
$272/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$97,000(+14.3%)
Key Takeaway
Homes in Lowes Island have sold for 14.3% more than they did a year ago.
Summary: The median home sold price in Lowes Island was $775,000 in November 2024, up 14.3% from last year, and the median price per square foot was $272.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $432.5K | $457.5K | +5.8% |
| 3 Bedrooms | $630K | $637.2K | +1.2% |
| 4 Bedrooms | $890K | $910K | +2.2% |
| 5+ Bedrooms | $910K | $1.0M | +13.2% |
Summary: Lowes Island housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 5.8%, 3 bedroom homes increased by 1.2%, 4 bedroom homes increased by 2.2%, and 5+ bedroom homes increased by 13.2%.
Housing Supply in Lowes Island, VA
How many homes are available in Lowes Island, VA?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 23 | 20 | -13.0% |
Summary: The Lowes Island real estate market had 20 homes for sale in November 2024, a 13.0% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 2 | 1 | -50.0% |
| 3 Bedrooms | 5 | 6 | +20.0% |
| 4 Bedrooms | 13 | 7 | -46.2% |
| 5+ Bedrooms | 3 | 6 | +100.0% |
Summary: The Lowes Island housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 50%, 3 bedroom homes increased by 20%, 4 bedroom homes decreased by 46.2%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 9 | 6 | -33.3% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lowes Island, you could pay more than the asking price. 66.7% of homes here sold above asking price last month.
Summary: A total of 6 homes were sold or pending in Lowes Island in November 2024, down by 33.3% month-over-month. Of the 6 sold homes, 17% were sold under asking, 17% were sold at asking, and 67% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 21 Days | 13 Days | -39.0% |
Summary: Homes in Lowes Island had an average of 13 days on market in Nov 2024, down by 39% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
1 Home Was 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 November 2024, 6 homes were sold in Lowes Island; 83% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
