The Long & Foster Market Minute
Focus On: Lynchburg City Housing Market June 2014
Units Sold
107
Active Inventory
540
Median Sale Price
$142,200
Days On Market
131
Small Units Sold Small Active Inventory Small Median Sale Price Small Days on Market
Up 24%
Vs. Year Ago
Down -5%
Vs. Year Ago
Up 3%
Vs. Year Ago
Up 16%
Vs. Year Ago
Units Sold
There was an increase in total units sold in June, with 107 sold this month in Lynchburg City Real Estate versus 81 last month, an increase of 32%. This month's total units sold was higher than at this time last year, an increase of 24% versus June 2013.

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 31 units or 5%. The total number of active inventory this June was 540 compared to 571 in June 2013. This month's total of 540 is lower than the previous month's total supply of available inventory of 588, a decrease of 8%.

Click here to compare the active inventory of this area against other locations.
Median Sale Price
Last June, the median sale price for Lynchburg City Homes was $138,500. This June, the median sale price was $142,200, an increase of 3% or $3,700 compared to last year. The current median sold price is 2% lower than in May.

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
127
Current Contracts
121
Sold Vs. List Price
96.5%
Months of Supply
5.0
Small New Listings Small Current Contracts Small Sold vs. List Price Small Months of Supply
Up 9%
Vs. Year Ago
Up 64%
Vs. Year Ago
Down -1%
Vs. Year Ago
Down -24%
Vs. Year Ago
Months of Supply
In June, there was 5.0 months of supply available in Lynchburg City, compared to 6.6 in June 2013. That is a decrease of 24% 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 127 homes newly listed for sale in Lynchburg City compared to 116 in June 2013, an increase of 9%. There were 121 current contracts pending sale this June compared to 74 a year ago. The number of current contracts is 64% higher than last June.

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 June, the average sale price in Lynchburg City was 96.5% of the average list price, which is 1.0% 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 131, higher than the average last year, which was 113, an increase of 16%.

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.