Good News in the real estate market in the Lynchburg area as sales increase over 2009. As the month of March ended, sales figures remained steady. With over 1961 active listings on the market, Realtors were anxious to see buyers’ reaction to the oncoming end of the Housing Stimulus package.
Average list price of those active listings was $237,619, and an average days on market of 128. This showed a higher average than in past months, but the days on market was consistant to that of the past year.
In the residential area, 143 units were sold, totaling $23,908,601. Realtors and sellers alike were smiling with an average of 119 days on market-less than 4 months. The average list price was recorded at $174,388, while the average sold price was recorded at $167,193. And, the question most asked by those buyers that do their homework, what is the percentage of list price to sales price? Still holding strong at 95.87%!
According to the Virginia Association of Realtors, the statewide housing market saw a 5.2% increase in sales during the first quarter of 2010 over the first quarter of 2009. AND, the median sales price went from $139,800 to $149,326—a 7% increase!
