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 transaction growth and price gains during the past several years, the sold volume level has grown considerably.
The fourth quarter sold volume now is almost $44 million higher than the same period four years ago. There was more than $4.2 million in sold volume in Lynchburg compared to a year ago, an 11% increase. Similar growth occurred in Campbell County, where the sold volume rose by more than $3.7 million compared to the fourth quarter of 2018. The drop in sales and prices in Appomattox County reduced the fourth quarter sold volume by more than $2.8 million compared to one year ago, the largest quarterly decrease in the county since summer 2016.
There was about $14.2 million in sold volume during the fourth quarter, an 8% decrease form last year for a $1.3 million reduction in volume. Prior to this decline, the sold volume rose dramatically in spring and summer 2019.
There was about $7.8 million in sold volume in the fourth quarter, down $2.8 million from a year ago for a 27% drop. This is the largest quarterly volume decrease for the county in more than three years.
There was about $84.4 million in sold volume in Bedford County during the fourth quarter, which is $1.7 million more than one year ago for a 2% increase. The sales volume has been trending up in he county since the start of 2018.
After declining in the third quarter, sold volume is back on the rise in the county. There was about $27.4 million in sold volume in the fourth quarter for a 16% jump from 2018, an additional $3.7 million in volume.
The increase in sales transactions this quarter in Lynchburg led to strong growth in sold dollar volume. There was about $42.7 million in sold volume in the fourth quarter in the city, up nearly $4.2 million from last year for an 11% increase.
» Homes on the Market: 603
» Homes Sold: 125
» Average sales price: $186,500
» Average number of days on market: 49