GREATER LYNCHBURG HOUSING MARKET DATA

There was an increase in total units sold in March, with 112 sold this month in Greater Lynchburg Real Estate. This month's total units sold was higher than at this time last year.

Versus last year, the total number of homes available this month is higher by 40 units or 19%. The total number of active inventory this March was 255 compared to 215 in March 2024. This month's total of 255 is lower than the previous month's total supply of available inventory of 266, a decrease of 4%.

Last March, the median sale price for Greater Lynchburg Homes was $280,000. This March, the median sale price was $285,000, an increase of 2% or $5,000 compared to last year. The current median sold price is 3% higher than in February.

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

In March, there was 2.3 months of supply available in Greater Lynchburg, compared to 1.9 in March 2024. That is an increase 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.

This month there were 201 homes newly listed for sale in Greater Lynchburg compared to 187 in March 2024, an increase of 7%. There were 162 current contracts pending sale this March compared to 147 a year ago. The number of current contracts is 10% higher than last March.

In March, the average sale price in Greater Lynchburg was 99.5% of the average list price, which is similar compared to a year ago.

This month, the average number of days on market was 46, higher than the average last year, which was 40, an increase of 15%.





FOCUS ON: GREATER LYNCHBURG HOUSING MARKET			MARCH 2025

Zip Code(s): 24502, 24501, 24503 and 24504
Units Sold 112	Active Inventory 255	Median Sale Price $285,000	Days On Market 46

Up 1% Vs. Year Ago	Up 19% Vs. Year Ago	Up 2% Vs. Year Ago	Up 15% Vs. Year Ago


		Units Sold There was an increase in total units sold in March, with 112 sold this month in Greater Lynchburg Real Estate. This month's total units sold was higher than at this time last year.
Active Inventory Versus last year, the total number of homes available this month is higher by 40 units or 19%. The total number of active inventory this March was 255 compared to 215 in March 2024. This month's total of 255 is lower than the previous month's total supply of available inventory of 266, a decrease of 4%.
		Median Sale Price Last March, the median sale price for Greater Lynchburg Homes was $280,000. This March, the median sale price was $285,000, an increase of 2% or $5,000 compared to last year. The current median sold price is 3% higher than in February. Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.



New Listings 201	Current Contracts 162	Sold Vs. List Price 99.5%	Months of Supply 2.3

Up 7% Vs. Year Ago	Up 10% Vs. Year Ago	No Change Vs. Year Ago	Up 18% Vs. Year Ago


		Months of Supply In March, there was 2.3 months of supply available in Greater Lynchburg, compared to 1.9 in March 2024. That is an increase 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.
New Listings & Current Contracts This month there were 201 homes newly listed for sale in Greater Lynchburg compared to 187 in March 2024, an increase of 7%. There were 162 current contracts pending sale this March compared to 147 a year ago. The number of current contracts is 10% higher than last March.
		Sale Price to List Price Ratio In March, the average sale price in Greater Lynchburg was 99.5% 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 46, higher than the average last year, which was 40, an increase of 15%.


	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.