The Lynchburg Virginia market report for the month of November was record breaking, until the Market Report for the month of December came along.
Nearly twice as many homes were listed between the month of November and the month of December yet approximately the same amount of homes actually sold. This increased the inventory in this area quite a bit. Absorption rate is very high in some areas of Central Virginia.
Specifically in Lynchburg City limits only, in the month of December 41 properties sold and 34 of these homes sold were single family homes. This was a decrease in the amount of homes sold this month of 13 from November. The average list price was $150,715 price sold was $146,577 and the average Days On The Market (DOM) was 121.23 days.
If you want specific information about your neighborhood please call me or email me and I'd be happy to show you how this market has affected your neighborhood as each specific area of town or county is different and location should be taken into consideration.
| Lynchburg |
January |
February |
March |
April |
May |
June |
July |
August |
September |
October |
November |
December |
Total 2008 |
| Single Family |
146 |
160 |
170 |
197 |
189 |
187 |
159 |
125 |
114 |
84 |
47 |
34 |
1612 |
| Town House |
35 |
33 |
26 |
42 |
48 |
47 |
33 |
28 |
13 |
10 |
4 |
5 |
324 |
| Condo |
8 |
4 |
12 |
3 |
14 |
7 |
12 |
12 |
14 |
7 |
3 |
1 |
97 |
| Land |
2 |
3 |
8 |
2 |
5 |
4 |
1 |
1 |
3 |
1 |
1 |
1 |
32 |
| Total Sold |
191 |
200 |
216 |
244 |
256 |
245 |
205 |
166 |
144 |
102 |
55 |
41 |
2065 |
Nannette Turner Saunders, Associate Broker
Short Sales Coordinator
Keller Williams Realty
1709 Laskin Road
Virginia Beach Va
;)
;)
Hi Nan! I could put those numbers on a graph and compare it to Charlotte's graph and it would look almost IDENTICAL! The swing up, then the hard fall downward! I think we're going to see another BIG swing up in '09!