The Long & Foster Market Minute
Focus On: Lynchburg City Housing Market November 2014
Units Sold
57
Active Inventory
492
Median Sale Price
$124,900
Days On Market
98
Small Units Sold Small Active Inventory Small Median Sale Price Small Days on Market
Up 8%
Vs. Year Ago
Down -12%
Vs. Year Ago
No Change
Vs. Year Ago
Down -24%
Vs. Year Ago
Units Sold
There was a decrease in total units sold in November, with 57 sold this month in Lynchburg City Real Estate versus 79 last month, a decrease of 28%. This month's total units sold was higher than at this time last year, an increase of 8% versus November 2013.

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Active Inventory
Versus last year, the total number of homes available this month is lower by 66 units or 12%. The total number of active inventory this November was 492 compared to 558 in November 2013. This month's total of 492 is lower than the previous month's total supply of available inventory of 513, a decrease of 4%.

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Median Sale Price
Last November, the median sale price for Lynchburg City Homes was $125,000. This November, the median sale price was $124,900, which is similar compared to a year ago. The current median sold price is 4% lower than in October.

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

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New Listings
79
Current Contracts
60
Sold Vs. List Price
96.6%
Months of Supply
8.6
Small New Listings Small Current Contracts Small Sold vs. List Price Small Months of Supply
Down -2%
Vs. Year Ago
Up 36%
Vs. Year Ago
Up 1.8%
Vs. Year Ago
Down -18%
Vs. Year Ago
Months of Supply
In November, there was 8.6 months of supply available in Lynchburg City, compared to 10.5 in November 2013. That is a decrease of 18% 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.

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New Listings & Current Contracts
This month there were 79 homes newly listed for sale in Lynchburg City compared to 81 in November 2013, a decrease of 2%. There were 60 current contracts pending sale this November compared to 44 a year ago. The number of current contracts is 36% higher than last November.

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Sale Price to List Price Ratio
In November, the average sale price in Lynchburg City was 96.6% of the average list price, which is 1.7% higher than at this time last year.

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Days on Market
This month, the average number of days on market was 98, lower than the average last year, which was 129, a decrease of 24%.

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*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.