GREATER LYNCHBURG HOUSING MARKET DATA

There was an increase in total units sold in April, with 117 sold this month in Greater Lynchburg Real Estate versus 112 last month, an increase of 4%. This month's total units sold was lower than at this time last year, a decrease of 11% versus April 2024.

Versus last year, the total number of homes available this month is higher by 4 units or 2%. The total number of active inventory this April was 262 compared to 258 in April 2024. This month's total of 262 is lower than the previous month's total supply of available inventory of 267, a decrease of 2%.

Last April, the median sale price for Greater Lynchburg Homes was $270,000. This April, the median sale price was $270,000, which is similar compared to a year ago. The current median sold price is 5% 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.

In April, there was 2.2 months of supply available in Greater Lynchburg, compared to 2.0 in April 2024. That is an increase of 14% 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.

This month there were 227 homes newly listed for sale in Greater Lynchburg compared to 211 in April 2024, an increase of 8%. There were 192 current contracts pending sale this April compared to 133 a year ago. The number of current contracts is 44% higher than last April.

In April, the average sale price in Greater Lynchburg was 97.9% of the average list price, which is 1.4% lower than at this time last year.

This month, the average number of days on market was 42, higher than the average last year, which was 27, an increase of 56%.





FOCUS ON: GREATER LYNCHBURG HOUSING MARKET			APRIL 2025

Zip Code(s): 24502, 24501, 24503 and 24504
Units Sold 117	Active Inventory 262	Median Sale Price $270,000	Days On Market 42

Down -11% Vs. Year Ago	Up 2% Vs. Year Ago	No Change Vs. Year Ago	Up 56% Vs. Year Ago


		Units Sold There was an increase in total units sold in April, with 117 sold this month in Greater Lynchburg Real Estate versus 112 last month, an increase of 4%. This month's total units sold was lower than at this time last year, a decrease of 11% versus April 2024.
Active Inventory Versus last year, the total number of homes available this month is higher by 4 units or 2%. The total number of active inventory this April was 262 compared to 258 in April 2024. This month's total of 262 is lower than the previous month's total supply of available inventory of 267, a decrease of 2%.
		Median Sale Price Last April, the median sale price for Greater Lynchburg Homes was $270,000. This April, the median sale price was $270,000, which is similar compared to a year ago. The current median sold price is 5% 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.



New Listings 227	Current Contracts 192	Sold Vs. List Price 97.9%	Months of Supply 2.2

Up 8% Vs. Year Ago	Up 44% Vs. Year Ago	Down -1.4% Vs. Year Ago	Up 14% Vs. Year Ago


		Months of Supply In April, there was 2.2 months of supply available in Greater Lynchburg, compared to 2.0 in April 2024. That is an increase of 14% 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.
New Listings & Current Contracts This month there were 227 homes newly listed for sale in Greater Lynchburg compared to 211 in April 2024, an increase of 8%. There were 192 current contracts pending sale this April compared to 133 a year ago. The number of current contracts is 44% higher than last April.
		Sale Price to List Price Ratio In April, the average sale price in Greater Lynchburg was 97.9% of the average list price, which is 1.4% lower than at this time last year. Days on Market This month, the average number of days on market was 42, higher than the average last year, which was 27, an increase of 56%.


	Greater Lynchburg are defined as properties listed in zip code/s 24502, 24501, 24503 and 24504.
	*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.
	Information 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.