Is Lynch Station, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Since last month, Lynch Station has remained a Seller's Market.
Key Takeaway
Lynch Station is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Lynch Station, VA
How much do homes in Lynch Station, VA cost?
Median Sold Price
$170,000
$121/sqft
Based on all homes sold in May 2024.
Difference Since Last Month
Key Takeaway
Homes in Lynch Station have sold for 43% less than they did a month ago.
Summary: The median home sold price in Lynch Station was $170,000 in May 2024, down 43% from last month, and the median price per square foot was $121.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $72.5K | - | N/A |
| 3 Bedrooms | $324K | $170K | -47.5% |
| 4 Bedrooms | - | $240.7K | N/A |
| 5+ Bedrooms | - | - | N/A |
Summary: Lynch Station housing prices by bedroom type for May 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes decreased by 47.5%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Housing Supply in Lynch Station, VA
How many homes are available in Lynch Station, VA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 6 | 14 | +133.3% |
Summary: The Lynch Station real estate market had 14 homes for sale in May 2024, a 133.3% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 1 | 1 | 0.0% |
| 3 Bedrooms | 4 | 9 | +125.0% |
| 4 Bedrooms | 1 | 2 | +100.0% |
| 5+ Bedrooms | 0 | 2 | +100.0% |
Summary: The Lynch Station housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 125%, 4 bedroom homes increased by 100%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 3 | 7 | +133.3% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lynch Station, you could pay more than the asking price. 42.9% of homes here sold above asking price last month.
Summary: A total of 7 homes were sold or pending in Lynch Station in May 2024, up by 133.3% month-over-month. Of the 7 sold homes, 29% were sold under asking, 29% were sold at asking, and 43% were sold over asking.
Days on Market for Lynch Station, VA
How long does it take to sell a home in Lynch Station, VA?
Average Sale Time
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 91 Days | 60 Days | -34.1% |
Summary: Homes in Lynch Station had an average of 60 days on market in May 2024, down by 34.1% compared to last month.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Lynch Station has remained consistent over time.
Summary: During May 2024, 7 homes were sold in Lynch Station; 14% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 29% of homes were sold over 90 days.
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.