Steady sales growth and rising prices in most local markets in the Lynchburg Association of Realtor’s footprint led to an increase in the total sold dollar volume in the fourth quarter. There was about $177 million in sold volume throughout the region in the fourth quarter, up 3% from last year for a gain of about $5.6 million. With consistent …
Area home sale prices continue to rise
Home prices in the Lynchburg Association of Realtors footprint continue to increase – a reflection of the tight inventory of active listings and steady demand in the market. At $188,700, the fourth-quarter median sales price in the region rose 3% from one year ago, a $5,800 increase. The median sales price has risen every quarter since spring 2016. With the …
Steady growth marked fourth quarter housing market
Consistent and steady growth characterized the Lynchburg Association of Realtors’ housing market in the fourth quarter of 2019. Sales activity rose for the third quarter in a row, driven by sales growth in Campbell County and Lynchburg. The region’s median sales price climbed by $5,800 and has been rising consistently for nearly 4 years, a reflection of the low inventory …
Housing trends continue to show slow growth
The unemployment rate in the Lynchburg region remained at 2.8% in November, lower than the national unemployment rate but somewhat higher than the state level. The unemployment rate in the Lynchburg area, however, has been trending down steadily for more than six years. While consumer confidence remains strong, data suggest uncertainties about future economic conditions among residents of the South …
Fourth quarter housing trends show steady economic growth
Despite a brief slowdown in mid 2019, the Lynchburg area economy has been growing strongly during the past 12 months. The health care and social assistance sector continues to be an important driver of economic growth in the region. Consumer confidence remains strong, though there are indications of growing uncertainty about future economic conditions. Interest rates have remained relatively unchanged …
Your closet could be key to sealing the deal
If there is one thing that can turn a potential client away from a home they may be on the fence about, it is a tiny master closet. When a potential buyer falls in love with your large bedroom only to find the closet is a fraction of the size they expected it to be, it could make them want …
Three major steps when preparing for a move
Excitement comes with moving into a new home – along with a great deal of stress. Packing up your entire life and moving it somewhere else can seem overwhelming but, if you have a plan, it can be a great deal more manageable. Here are three major steps to take to prepare for a move and reduce the stress that …
Is tiny living for you? Answer these questions first
As conservative lifestyles and living “small” become more and more popular, tiny homes and other downsized living options have become a normal choice in the home buying process. If you have considered tiny home living, you may need to ask yourself a few questions before taking the leap. Here are six questions to answer before going “tiny!” 1. Can you …
Safety tips to follow when selling a vacant home
When preparing to put your house on the market, your main concern is making your home look as appealing as possible – cleaning every corner, fixing what needs fixed, and making sure it is a home others would want to buy. Prioritizing the safety of your home while it is on the market can fall to the wayside. Between showings, …
New Year’s resolutions for your home buyers in new year
If 2020 is the year for you to buy a home, consider making these five New Year’s resolutions to help you be as prepared as possible to become a homeowner. Planning is important, and simple changes can add just enough to make it happen. Evaluate monthly subscriptions Each Month, there is a new subscription service out there. What starts as …