Patti Pierucci , Realtor®, e-PRO, ABR, ASP Outstanding Results

Lynchburg Regional Market Conditions


 

Summary of Sales Activity For 8/1/2009 Through 10/1/2009
Price Range/Bedrooms    
# List Sold
% Of List
Total Dollar Volume
% Of Dollars
Avg Sale Price
Avg List Price
SP:LP
Avg DOM
# List Co-op
Co-op Dollar Volume
% Of Dollars
RESIDENTIAL
343
90.50%
$59,770,008
93.30%
$174,256
$183,202
95.12%
166
205
$36,025,652
56.24%
  2 OR LESS BEDROOMS
76
22.16%
$9,001,170
15.06%
$118,436
$123,088
96.22%
174
42
$4,678,970
7.30%
  3 BEDROOMS
176
51.31%
$27,475,163
45.97%
$156,108
$162,535
96.05%
140
109
$17,270,282
26.96%
  4 BEDROOMS
65
18.95%
$14,778,675
24.73%
$227,364
$242,933
93.59%
214
42
$10,183,300
15.90%
  5 OR MORE BEDROOMS
26
7.58%
$8,515,000
14.25%
$327,500
$349,492
93.71%
204
12
$3,893,100
6.08%
MULTI-FAMILY
2
0.53%
$409,000
0.64%
$204,500
$227,500
89.89%
110
1
$84,000
0.13%
LOTS AND LAND
27
7.12%
$2,383,300
3.72%
$88,270
$83,681
105.48%
304
11
$996,900
1.56%
FARMS
3
0.79%
$839,000
1.31%
$279,666
$299,900
93.25%
253
1
$193,000
0.30%
COMM/INDUSTRIAL
4
1.06%
$660,000
1.03%
$165,000
$191,600
86.12%
351
1
$145,000
0.23%
TOTAL
379
100.00%
$64,061,308
100.00%
$169,027
$177,358
95.30%
178
219
$37,444,552
58.45%
 

These two charts show the difference between sales in Aug-Sept 2008 (below) and Aug-Sept 2009 (above). Some good news is that the average sales price has increased from $168,547 in 2008 to $169,027 this year -- but the average sales prices of 2, 3, 4 and 5 bedroom homes in each category is down. Another sign of a slow housing market is the days on market (DOM), which has increased from 138 to 178. Furthermore, the number of properties sold has decreased from last year, from 411 to 379. The good news is that the average sale price.

Summary of Sales Activity For 8/1/2008 Through 10/1/2008
Price Range/Bedrooms    
# List Sold
% Of List
Total Dollar Volume
% Of Dollars
Avg Sale Price
Avg List Price
SP:LP
Avg DOM
# List Co-op
Co-op Dollar Volume
% Of Dollars
RESIDENTIAL
352
85.64%
$61,998,186
89.50%
$176,131
$179,036
98.38%
128
220
$40,010,944
57.76%
  2 OR LESS BEDROOMS
82
23.30%
$11,252,093
18.15%
$137,220
$128,364
106.90%
127
38
$5,904,794
8.52%
  3 BEDROOMS
175
49.72%
$28,133,093
45.38%
$160,760
$164,962
97.45%
133
117
$19,731,500
28.48%
  4 BEDROOMS
80
22.73%
$17,376,000
28.03%
$217,200
$224,937
96.56%
121
56
$12,028,500
17.36%
  5 OR MORE BEDROOMS
15
4.26%
$5,237,000
8.45%
$349,133
$375,436
92.99%
112
9
$2,346,150
3.39%
MULTI-FAMILY
3
0.73%
$305,500
0.44%
$101,833
$110,766
91.94%
78
2
$179,000
0.26%
LOTS AND LAND
50
12.17%
$5,759,183
8.31%
$115,183
$138,948
82.90%
192
14
$2,607,123
3.76%
FARMS
1
0.24%
$51,000
0.07%
$51,000
$54,900
92.90%
37
0
$0
0.00%
COMM/INDUSTRIAL
5
1.22%
$1,159,000
1.67%
$231,800
$440,840
52.58%
381
2
$810,000
1.17%
TOTAL
411
100.00%
$69,272,869
100.00%
$168,547
$176,544
95.47%
138
238
$43,607,067
62.95%
 
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