The last 30 days in the Lynchburg area real estate 219 residential homes sold.
The size ranged from homesteads to condos, from $77K to over $2.3M. The average days on market was 19 with a max of 205.
4 homes sold in 0 days,
5 in 1,
5 in 2,
6 in 3, and
4 in 4,
for a total of 23 homes gone within a long weekend after going on market. Thus, it remains important to get to them early, especially if you're looking for a well-priced, turn-key home.
As always, I recommend checking for new listings on a Thursday and making plans to go viewing early on the weekend and having your prequel in hand before the viewing so you're prepared to make a move if one turns out to be your dream home.
Of the 219, all of them sold for over asking. The average was 104.48% of listing price - that's taking out the highest which was 153% for the $2.3M home. The next highest were 122% and 114% of asking. More details below.
The conclusion here is that the market is calming down after the pandemic feeding frenzy, however, we're still looking at elevated prices and the need to bid assertively if you want to win your bid.
There were also 2 sold at 110% of list price,
1 for 109%,
1 at 107%, and
3 at 106%.
The majority were more reasonable -- 4 selling at 5% over asking, 3 at 4%, 8 at 3%. The rest were in the 2 and 1% range or less. The least included 3 at .03% over asking, 2 at .04% and a wide variety of decimals from there.
Reach out if you'd like a breakdown of stats for the immediate area you're looking in.
I’m Lenora Farrington, the Karate Realtor, committed to the same honesty, integrity and discipline, in both my martial arts and realtor practices.
Life is hard. Let’s get you home!