Market News

Summer means longer days, later nights and usually, more traffic in your home. With play dates, game nights, and bonfires, more guests likely are to be in and out of your home than usual. While fun is the priority, safety should be as well. To keep the little ones – children and pets included – safe in your home, follow …

Every day, the world presents us with new technology and it now seems there isn’t much left technology can’t do. With every advancement, many items have become more affordable. While a high-tech home may not be the choice for everyone, there are plenty of budget friendly options if you are interested in making your home a bit more accessible. Here …

Exercise is a key part to staying healthy. Every aspect of our lives are impacted by our health, so doing little things to ensure you stay in shape aids in your overall health. Many buyers now are looking for that workout space and if you already have one set up, your home becomes more appealing. While exercise is important, many …

If you are considering becoming a property investor, you may wonder why you should buy a rental and what indicators to look for when trying to find a property. Here are some signs indicating it’s a great time to buy if you are on the fence about investing in a rental. Low interest rates When mortgage rates drop, it is …

The availability of homes for sale fell by an unprecedented amount in May. At the end of the month, there was a total of 26,828 active listings throughout Virginia, a decline of 34% compared to the end of March 2019, or nearly 14,000 fewer listings. As buyer activity rebounds in June, a lack of available inventory will be a significant …

Temperatures are rising which means your utility bills likely are on the rise too. With the average American spending about $200 per month on energy, most are looking for ways to decrease those costs any way they can. Not using air conditioning is an unrealistic option, so there are other updates and changes you can make to save money and …

One of the major reasons tenants choose to rent instead of buy is to avoid maintenance and repair costs. Though the long-run savings might not be worth it, sometimes the immediate ones are a better choice for some people. While most maintenance and repair costs fall on the home or building owner, there may be times when it is the …

There were 904 active listings on the market at the end of the first quarter throughout the Lynchburg Association of Realtors footprint, an 18% decline compared to 2019 with 195 fewer active listings. The supply in the region’s housing market has been declining rapidly for several years. The inventory in the market now is less than half the level it …

The surge in sales transactions and rising home prices this quarter led to a large increase in total sold dollar volume in the Lynchburg Association of Realtors housing market. There was about $170 million in sold volume across the association’s footprint in the first quarter, an 18% jump from last year, which is a gain of nearly $26 million in …

Home prices continue to climb in the Lynchburg Association of Realtors housing market. At $186,750, the first quarter median sales price in the association’s footprint rose 4% from last year for an increase of nearly $7,000. The median sales price has been rising consistently for the past four years in the area market and now is about $32,000 higher than …