The rise in home prices and increased sales activity around the region led to a solid gain in the total sold dollar volume in the Lynchburg Association of Realtors market this quarter. There was about $251.3 million of sold volume throughout the association’s footprint in the second quarter, which is 9% higher than last year for a gain of about $20.9 million. The sold dollar volume in the region has been expanding for four years as sales and prices continue to grow in most local markets.
- Amherst County: The surge in sales activity and rising home prices led to a large increase in sold dollar volume this quarter. There was about $21.4 million of sold volume in the county during the second quarter, $4.6 million more than last year for a 27% increase.
- Appomattox County: Despite the drop in median sales price, the spike in sales transactions this quarter drove up the total sold dollar volume. There was about $11.3 million in sold volume in the second quarter, a $3.3 million gain over the past year for a 41% increase.
- Bedford County: There was about $117.8 million of sold volume during the second quarter, up 4% from one year ago for an increase of about $4.1 million. The sold dollar volume has been trending up in the county for 10 consecutive quarters.
- Campbell County: The large increase in sales activity and climbing home prices led to the largest sold dollar volume growth in the housing market in more than five years. There was about $43.9 million of sold volume in the second quarter, which is about $11 million more than last year for a 34% jump.
- Lynchburg: The slowdown in sales activity this quarter led to a drop in the total sold dollar volume in the city housing market. There was about $56.9 million of sold volume in the second quarter, down $2 million from last year for a 3% decline.