GREATER LYNCHBURG HOUSING MARKET DATA

There was an increase in total units sold in May, with 149 sold this month in Greater Lynchburg Real Estate versus 120 last month, an increase of 24%. This month's total units sold was higher than at this time last year, an increase of 2% versus May 2024.

Versus last year, the total number of homes available this month is higher by 6 units or 2%. The total number of active inventory this May was 287 compared to 281 in May 2024. This month's total of 287 is lower than the previous month's total supply of available inventory of 289, a decrease of 1%.

Last May, the median sale price for Greater Lynchburg Homes was $279,000. This May, the median sale price was $295,000, an increase of 6% or $16,000 compared to last year. The current median sold price is 10% higher than in April.

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

In May, there was 1.9 months of supply available in Greater Lynchburg. The amount of supply is similar compared to 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 199 homes newly listed for sale in Greater Lynchburg compared to 225 in May 2024, a decrease of 12%. There were 148 current contracts pending sale this May compared to 158 a year ago. The number of current contracts is 6% lower than last May.

In May, the average sale price in Greater Lynchburg was 99.3% of the average list price, which is similar compared to a year ago.

This month, the average number of days on market was 26, higher than the average last year, which was 16, an increase of 63%.





FOCUS ON: GREATER LYNCHBURG HOUSING MARKET			MAY 2025

Zip Code(s): 24502, 24501, 24503 and 24504
Units Sold 149	Active Inventory 287	Median Sale Price $295,000	Days On Market 26

Up 2% Vs. Year Ago	Up 2% Vs. Year Ago	Up 6% Vs. Year Ago	Up 63% Vs. Year Ago


		Units Sold There was an increase in total units sold in May, with 149 sold this month in Greater Lynchburg Real Estate versus 120 last month, an increase of 24%. This month's total units sold was higher than at this time last year, an increase of 2% versus May 2024.
Active Inventory Versus last year, the total number of homes available this month is higher by 6 units or 2%. The total number of active inventory this May was 287 compared to 281 in May 2024. This month's total of 287 is lower than the previous month's total supply of available inventory of 289, a decrease of 1%.
		Median Sale Price Last May, the median sale price for Greater Lynchburg Homes was $279,000. This May, the median sale price was $295,000, an increase of 6% or $16,000 compared to last year. The current median sold price is 10% higher than in April. Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.



New Listings 199	Current Contracts 148	Sold Vs. List Price 99.3%	Months of Supply 1.9

Down -12% Vs. Year Ago	Down -6% Vs. Year Ago	No Change Vs. Year Ago	No Change Vs. Year Ago


		Months of Supply In May, there was 1.9 months of supply available in Greater Lynchburg. The amount of supply is similar compared to 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 199 homes newly listed for sale in Greater Lynchburg compared to 225 in May 2024, a decrease of 12%. There were 148 current contracts pending sale this May compared to 158 a year ago. The number of current contracts is 6% lower than last May.
		Sale Price to List Price Ratio In May, the average sale price in Greater Lynchburg was 99.3% of the average list price, which is similar compared to a year ago. Days on Market This month, the average number of days on market was 26, higher than the average last year, which was 16, an increase of 63%.


	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.