Is Lee Hill, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Lee Hill has remained a Seller's Market.
Housing Prices in Lee Hill, VA
How much do homes in Lee Hill, VA cost?
Median Sold Price
$451,993
$186/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Lee Hill was $451,993 in May 2024, up 3.4% from last year, and the median price per square foot was $186.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $225K | N/A |
2 Bedrooms | $285K | $302.5K | +6.1% |
3 Bedrooms | $336.1K | $380K | +13.1% |
4 Bedrooms | $482.5K | $486K | +0.7% |
5+ Bedrooms | $560K | $569.9K | +1.8% |
Summary: Lee Hill housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 6.1%, 3 bedroom homes increased by 13.1%, 4 bedroom homes increased by 0.7%, and 5+ bedroom homes increased by 1.8%.
Median Sold Price Compared To Nearby Cities
Salem | $310K | $364.3K | +17.5% |
Battlefield | $410K | $436K | +6.3% |
Lee Hill | $436.9K | $451.9K | +3.4% |
Fredericksburg | $427.9K | $440.7K | +3.0% |
Fredericksburg | $431K | $442.7K | +2.7% |
Housing Supply in Lee Hill, VA
How many homes are available in Lee Hill, VA?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
120 | 131 | +9.2% |
Summary: The Lee Hill real estate market had 131 homes for sale in May 2024, a 9.2% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 1 | 0.0% |
2 Bedrooms | 8 | 7 | -12.5% |
3 Bedrooms | 36 | 34 | -5.6% |
4 Bedrooms | 43 | 49 | +14.0% |
5+ Bedrooms | 32 | 40 | +25.0% |
Summary: The Lee Hill housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 12.5%, 3 bedroom homes decreased by 5.6%, 4 bedroom homes increased by 14%, and 5+ bedroom homes increased by 25%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
40 | 34 | -15.0% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
15 Homes Were Sold
At Asking
11 Homes Were Sold
Over Asking
Summary: A total of 34 homes were sold or pending in Lee Hill in May 2024, down by 15.0% month-over-month. Of the 34 sold homes, 24% were sold under asking, 44% were sold at asking, and 32% were sold over asking.
Days on Market for Lee Hill, VA
How long does it take to sell a home in Lee Hill, VA?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
11 Days | 27 Days | +142.3% |
Summary: Homes in Lee Hill had an average of 27 days on market in May 2024, up by 142.3% compared to last year.
Breakdown of Home Sale Times
25 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During May 2024, 34 homes were sold in Lee Hill; 74% of homes were sold within 30 days, 21% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.