As we step into the fall real estate season, the numbers tell a clear story: our local housing market continues its steady march back toward balance. Inventory has now climbed to 821 available homes, a significant increase from the 599 on the market this time last year. While that still doesn’t quite match pre-COVID levels, it’s a strong signal the days of the frenzied seller’s market are giving way to a more even playing field for both buyers and sellers.
Average days on market remain low – just about a month on average – which underscores an important truth: well-priced, well-prepared homes will still sell quickly. When inventory rises, sales remain steady, and days on market stay tight, it becomes clear that accuracy in pricing is critical. Homes that are move-in ready and listed at fair market value are attracting buyers quickly, while overpriced or poorly presented properties are lagging behind. This is exactly why partnering with a Realtor matters. From setting the right price to helping prepare your home for market, a Realtor ensures your property shines and sells for top dollar.
The average sales price has climbed to $375,113, continuing the upward trajectory we’ve seen locally for the past 15 years. Despite fluctuations in the broader national news, our market has consistently demonstrated strength and appreciation, rewarding homeowners who invest in their properties and communities.
We’ve now entered what we call the “fall market” – traditionally the second busiest season for buying and selling homes, following the spring surge. This window of opportunity typically thrives until mid-November, when many people begin shifting focus toward the holiday season. But don’t overlook those colder months: while activity does slow down, the reduced competition makes it an ideal time for serious buyers and sellers to make their move.
As summer fades into crisp Virginia fall, it’s hard not to feel optimistic. The weather is beautiful, the market is active and opportunities abound for those ready to take the next step. Whether you’re buying or selling, lean on the expertise of a Realtor to guide you through the process with confidence. Here’s to a strong fall season – and may this wonderful weather stick around for as long as it likes.
Billy Morris
2025 President of the Lynchburg Association of Realtors
Associate Broker at John Stewart Walker, Inc.