Turn on the television and you hear how the real estate market has plummeted.  Open your newspaper and you read how foreclosures have risen and how thousands of dollars are being lost in real estate values. So true in most all areas of our country, but now necessarily so in Lynchburg!  Market sales have seen far less decrease in sales volume over other areas, buyers are still buying and lenders are lending money for home purchases! That is great news for our area.  With a large inventory of wonderful properties currently being offered for sale, a buyer can find almost exactly what they are looking for, find a loan for an incredible interest rate, and move into a home with 30-45 days. 

Of course, in comparison with the market in 2007, area statistics do show a slower market. The average days on market for a property is 145 days compared to 125 in 2007.   The average sales price is $155,921 compared to $165,768 in 2007.  All in all, Lynchburg has been affected, yes, but should be looked at as a market correction.  Sales of single family homes increased over 30% in the last month, and statistics currently accruing for July show the same trend.  There are over 1940 residential property listings on the market, 827 units have sold since January 1, 2009.  Each month has shown an increase in sales, so what are you waiting for?