Is Lynchburg, TN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, Lynchburg was a Seller's Market.
Housing Prices in Lynchburg, TN
How much do homes in Lynchburg, TN cost?
Median Sold Price
$389,000
$201/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Lynchburg was $389,000 in March 2024, up 7.5% from last year, and the median price per square foot was $201.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $208.9K | N/A |
2 Bedrooms | $195K | $246.7K | +26.5% |
3 Bedrooms | $332K | $340K | +2.4% |
4 Bedrooms | $540K | $589.4K | +9.2% |
5+ Bedrooms | $535K | $799K | +49.3% |
Summary: Lynchburg housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 26.5%, 3 bedroom homes increased by 2.4%, 4 bedroom homes increased by 9.2%, and 5+ bedroom homes increased by 49.3%.
Median Sold Price Compared To Nearby Cities
Lynchburg | $362K | $389K | +7.5% |
Tullahoma | $260.4K | $280K | +7.5% |
Housing Supply in Lynchburg, TN
How many homes are available in Lynchburg, TN?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
40 | 37 | -7.5% |
Summary: The Lynchburg real estate market had 37 homes for sale in March 2024, a 7.5% decrease compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 1 | -50.0% |
2 Bedrooms | 5 | 5 | 0.0% |
3 Bedrooms | 19 | 20 | +5.3% |
4 Bedrooms | 10 | 10 | 0.0% |
5+ Bedrooms | 4 | 1 | -75.0% |
Summary: The Lynchburg housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes remained the same, 3 bedroom homes increased by 5.3%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 75%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
7 | 6 | -14.3% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Summary: A total of 6 homes were sold or pending in Lynchburg in March 2024, down by 14.3% month-over-month. Of the 6 sold homes, 50% were sold under asking, 50% were sold at asking, and 0% were sold over asking.
Days on Market for Lynchburg, TN
How long does it take to sell a home in Lynchburg, TN?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
45 Days | 58 Days | +28.2% |
Summary: Homes in Lynchburg had an average of 58 days on market in Mar 2024, up by 28.2% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During March 2024, 6 homes were sold in Lynchburg; 33% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 17% of homes were sold over 90 days.