Is Lynchburg, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2022
Since last year, Lynchburg has remained a Seller's Market.
Key Takeaway
Lynchburg is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
How much do homes in Lynchburg, VA cost?
Median Sold Price
$235,619
$135/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2022
+$30,390(+14.8%)
Key Takeaway
Homes in Lynchburg have sold for 14.8% more than they did a year ago.
Median Sold Price By Bedroom Count
| # BEDS | May 2022 | May 2023 | % |
|---|---|---|---|
| 1 Bedroom | $123.2K | $131.4K | +6.6% |
| 2 Bedrooms | $139.9K | $149.9K | +7.1% |
| 3 Bedrooms | $207.6K | $233.9K | +12.7% |
| 4 Bedrooms | $249.9K | $281.4K | +12.6% |
| 5+ Bedrooms | $339.9K | $419.9K | +23.5% |
Median Sold Price Compared To Nearby Cities
| Lynchburg | $205.2K | $235.6K | +14.8% |
| Jefferson | $364.5K | $417.4K | +14.5% |
| Timberlake | $250K | $280K | +12.0% |
| Lynchburg | $220K | $245.7K | +11.7% |
| Madison Heights | $210K | $213.8K | +1.8% |
How many homes are available in Lynchburg, VA?
Number of Homes For Sale
| Apr 2023 | May 2023 | % |
|---|---|---|
| 208 | 366 | +76.0% |
Homes For Sale By Bedroom Count
| # BEDS | Apr 2023 | May 2023 | % |
|---|---|---|---|
| 1 Bedroom | 3 | 4 | +33.3% |
| 2 Bedrooms | 27 | 56 | +107.4% |
| 3 Bedrooms | 92 | 181 | +96.7% |
| 4 Bedrooms | 60 | 90 | +50.0% |
| 5+ Bedrooms | 26 | 35 | +34.6% |
Number of Homes Sold
| Apr 2023 | May 2023 | % |
|---|---|---|
| 90 | 128 | +42.2% |
Asking Price vs. Sold Price
38 Homes Were Sold
Under Asking
33 Homes Were Sold
At Asking
57 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lynchburg, you could pay more than the asking price. 44.5% of homes here sold above asking price last month.
How long does it take to sell a home in Lynchburg, VA?
How long does it take to sell a home in Lynchburg, VA?
Average Sale Time
| May 2022 | May 2023 | % |
|---|---|---|
| 7 Days | 13 Days | +80.5% |
Breakdown of Home Sale Times
111 Homes Were Sold
Under 30 Days
13 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Lynchburg are selling fast, if you're buying plan to act quickly.
Although the Multiple Listing Service of The Roanoke Valley is the single source for these listings, listing data appearing on this web site does not necessarily reflect the entirety of all available listings within the Multiple Listing Service. All listing data is refreshed regularly, but its accuracy is subject to market changes. 
All or a portion of the multiple Listing information is provided by the Central Virginia Regional Multiple Listing Service, LLC, from a copyrighted compilation of Listings. All CVR MLS information provided is deemed reliable but is not guaranteed accurate. The compilation of Listings and each individual Listing are ©2023 Central Virginia Regional Multiple Listing Service,LLC. All rights reserved
Information Deemed Reliable But Not Guaranteed. The data relating to real estate for sale on this website appears in part through the BRIGHT Internet Data Exchange program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms in which participates, and is provided by BRIGHT through a licensing agreement.