Is Lanexa, 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, Lanexa has remained a Buyer's Market.
Housing Prices in Lanexa, VA
How much do homes in Lanexa, VA cost?
Median Sold Price
$399,988
$233/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Lanexa was $399,988 in May 2024, down 6.2% from last year, and the median price per square foot was $233.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $66K | N/A |
2 Bedrooms | $167.4K | $238K | +42.1% |
3 Bedrooms | $367.4K | $399.9K | +8.8% |
4 Bedrooms | $520K | $564.9K | +8.7% |
5+ Bedrooms | $730K | $997.5K | +36.6% |
Summary: Lanexa 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 42.1%, 3 bedroom homes increased by 8.8%, 4 bedroom homes increased by 8.7%, and 5+ bedroom homes increased by 36.6%.
Median Sold Price Compared To Nearby Cities
Providence Forge | $525K | $550K | +4.8% |
West Point | $298K | $308K | +3.4% |
Stonehouse | $435K | $419K | -3.7% |
Lanexa | $426.5K | $399.9K | -6.2% |
Housing Supply in Lanexa, VA
How many homes are available in Lanexa, VA?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
45 | 42 | -6.7% |
Summary: The Lanexa real estate market had 42 homes for sale in May 2024, a 6.7% decrease 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 | 2 | 1 | -50.0% |
3 Bedrooms | 26 | 23 | -11.5% |
4 Bedrooms | 14 | 15 | +7.1% |
5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The Lanexa 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 50%, 3 bedroom homes decreased by 11.5%, 4 bedroom homes increased by 7.1%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
9 | 5 | -44.4% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Summary: A total of 5 homes were sold or pending in Lanexa in May 2024, down by 44.4% month-over-month. Of the 3 sold homes, 67% were sold under asking, 0% were sold at asking, and 33% were sold over asking.
Days on Market for Lanexa, VA
How long does it take to sell a home in Lanexa, VA?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
4 Days | 93 Days | +1980.0% |
Summary: Homes in Lanexa had an average of 93 days on market in May 2024, up by 1980% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During May 2024, 5 homes were sold in Lanexa; 20% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 60% of homes were sold over 90 days.