The Long & Foster Market Minute
Focus On: Lynchburg City Housing Market December 2015
Units Sold
62
Active Inventory
419
Median Sale Price
$128,950
Days On Market
95
Small Units Sold Small Active Inventory Small Median Sale Price Small Days on Market
Up 2%
Vs. Year Ago
Down -9%
Vs. Year Ago
Down -9%
Vs. Year Ago
Down -19%
Vs. Year Ago
Units Sold
There was an increase in total units sold in December, with 62 sold this month in Lynchburg City Real Estate versus 59 last month, an increase of 5%. This month's total units sold was higher than at this time last year, an increase of 2% versus December 2014.

Click here to compare the units sold of this area against other locations.
Active Inventory
Versus last year, the total number of homes available this month is lower by 40 units or 9%. The total number of active inventory this December was 419 compared to 459 in December 2014. This month's total of 419 is lower than the previous month's total supply of available inventory of 497, a decrease of 16%.

Click here to compare the active inventory of this area against other locations.
Median Sale Price
Last December, the median sale price for Lynchburg City Homes was $141,450. This December, the median sale price was $128,950, a decrease of 9% or $12,500 compared to last year. The current median sold price is 13% lower than in November.

Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.

Click here to compare the median sale price of this area against other locations.
New Listings
84
Current Contracts
85
Sold Vs. List Price
95.4%
Months of Supply
6.8
Small New Listings Small Current Contracts Small Sold vs. List Price Small Months of Supply
Up 56%
Vs. Year Ago
Up 70%
Vs. Year Ago
Down -0.7%
Vs. Year Ago
Down -10%
Vs. Year Ago
Months of Supply
In December, there was 6.8 months of supply available in Lynchburg City, compared to 7.5 in December 2014. That is a decrease of 10% versus a year ago.

Months of supply is calculated by dividing current inventory by current sales. It indicates how many months would be needed to sell all of the inventory available at the current rate of demand.

Click here to compare the months of supply of this area against other locations.
New Listings & Current Contracts
This month there were 84 homes newly listed for sale in Lynchburg City compared to 54 in December 2014, an increase of 56%. There were 85 current contracts pending sale this December compared to 50 a year ago. The number of current contracts is 70% higher than last December.

Click here to compare the new listings of this area against other locations.

Click here to compare the current contracts of this area against other locations.
Sale Price to List Price Ratio
In December, the average sale price in Lynchburg City was 95.4% of the average list price, which is 0.6% lower than at this time last year.

Click here to compare the sale price to list price ratio of this area against other locations.
Days on Market
This month, the average number of days on market was 95, lower than the average last year, which was 117, a decrease of 19%.

Click here to compare the days on market of this area against other locations.
*Detached, Attached, and Condo varies by local area Multiple Listing Service (MLS) definition. For more information regarding your specific market, contact one of Long & Foster's knowledgeable and experienced sales associates.
REALTOR, Equal Opportunity HousingInformation included in this report is based on data supplied by LAR and its member Association(s) of REALTORS, who are not responsible for its accuracy. Does not reflect all activity in the marketplace. Information contained in this report is deemed reliable but not guaranteed, should be independently verified, and does not constitute an opinion of LAR or Long & Foster Real Estate, Inc.