OCTOBER 2011 REAL ESTATE MARKET REPORT for LYNCHBURG VA AREA

By
Real Estate Agent with John Stewart Walker, Inc

 

Kathy Myers Carson, Realtor

434-660-4025  kcarson@jetbroadband.com

 

OCTOBER  2011 -  LYNCHBURG HOUSING REPORT

Houses for Sale     (current MLS)                            1754   (11-5-2011)

New Listings for October 2011                              248   

Houses Sold in October 2011                                 127

 

  • Average Days on the Market =  155/174               (Positive - 10 to 15 days shorter than 9-11)
  • Sale Price % to List Price       = 94.80%                   (Positive – up 3/12% from 9-11)
  • Average Sales Price               = $ 147,956             (Negative – down $30,726 from 9-11)

 

There is a 12 Month Inventory of HOMES for SALE in the Lynchburg MLS

 

Specific Areas:              Interesting Information!

 

Amherst                                                                      15.33 months of Inventory

Lynchburg        (24502/01 $100K to $200K)              15.33 months of Inventory

Lynchburg        (24503 $90K to $150K)                        9.74 months of Inventory

Lynchburg        (24503 $150K to $300K)                      9.79 months of Inventory

Camp Co          (BHS $100K to $200K)                          8.60 months of Inventory

Camp Co          (BHS over $200K)                               35.00 months of Inventory

Camp Co          (Yellowbranch $150K to $225K)       14.61 months of Inventory

Forest              ($100K to $200K)                                   1.43 month of Inventory

Forest              ($200K and over)                                12.00 months of Inventory

                        JF/BHS/Rust    ($175K to $250K)                                  8.25 months of Inventory

 

 

Strong “BUYERS MARKET”

 Amherst, Central Lynchburg (Ft Hill, Old Forest Rd, Sandusky…), Camp Co (BHS $200K), Camp Co (Yellowbranch $150Kto $225K), Forest ($200K +)

 

Strong “SELLERS MARKET”

Forest  ($100K to $200K)

 

Moving toward a more “Balanced Market” (6 months inventory)

Lynchburg (24503 $90K to $150K),  Lynchburg (24503 $150K to $300K),  Campbell Co (BHS $100K to $200K),  JF/BHS/Rustburg High School Districts ($175K to $250K)

What does this mean?

If you are a Seller – check your Market – is your price attracting Buyers?

If you are a Buyer – check the stats of the neighborhood you want to live in.  This is an overall glimpse of an area (not a subdivision, street or development) – I can run the stats for you for your specific price range and the specific area you are exploring to buy!

 

This information is taken from statistics for single family homes provided through the LAR MLS & analyzed by Kathy Carson-

There can be variables that affect my analysis.  I supply this information for my customers, clients & business associates.

 

Posted by

 

 

Kathy Carson, ABR, GRI

Realtor - Licensed in Commonwealth of Virginia

KathyCarson25@gmail.com

434-660-4025

John Stewart Walker,Inc.

3211 Old Forest Road, Lynchburg, VA 24501

 

 

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