The Long & Foster Market Minute
Focus On: Lynchburg City Housing Market April 2017
Units Sold
90
Active Inventory
316
Median Sale Price
$147,950
Days On Market
78
Small Units Sold Small Active Inventory Small Median Sale Price Small Days on Market
Up 18%
Vs. Year Ago
Down -36%
Vs. Year Ago
Up 19%
Vs. Year Ago
Down -20%
Vs. Year Ago
Units Sold
There was an increase in total units sold in April, with 90 sold this month in Lynchburg City Real Estate versus 79 last month, an increase of 14%. This month's total units sold was higher than at this time last year, an increase of 18% versus April 2016.

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Active Inventory
Versus last year, the total number of homes available this month is lower by 175 units or 36%. The total number of active inventory this April was 316 compared to 491 in April 2016. This month's total of 316 is lower than the previous month's total supply of available inventory of 342, a decrease of 8%.

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Median Sale Price
Last April, the median sale price for Lynchburg City Homes was $124,250. This April, the median sale price was $147,950, an increase of 19% or $23,700 compared to last year. The current median sold price is 17% higher than in March.

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
138
Current Contracts
131
Sold Vs. List Price
97.4%
Months of Supply
3.5
Small New Listings Small Current Contracts Small Sold vs. List Price Small Months of Supply
Down -7%
Vs. Year Ago
Up 28%
Vs. Year Ago
No Change
Vs. Year Ago
Down -46%
Vs. Year Ago
Months of Supply
In April, there was 3.5 months of supply available in Lynchburg City, compared to 6.5 in April 2016. That is a decrease of 46% 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 138 homes newly listed for sale in Lynchburg City compared to 148 in April 2016, a decrease of 7%. There were 131 current contracts pending sale this April compared to 102 a year ago. The number of current contracts is 28% higher than last April.

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Sale Price to List Price Ratio
In April, the average sale price in Lynchburg City was 97.4% of the average list price, which is similar compared to a year ago.

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Days on Market
This month, the average number of days on market was 78, lower than the average last year, which was 97, a decrease of 20%.

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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.