OCTOBER 2009 - LYNCHBURG, VA REAL ESTATE HOUSING REPORT

OCTOBER 2009 - LYNCHBURG HOUSING REPORT

Current Number of Houses for Sale 1901

Houses Sold in October 2009 237

New House Listings October 2009 360

House Sales Closed in 2009 1640

Month Supply of Houses on Market 11.16

What do these numbers mean?

First - the number of houses listed for sale in our MLS is slowly going down (inventory is shrinking - slowly).

Second - We sold 95 more houses in October 2009 than we did in October 2008.

Third - We listed 35 less houses in 10-09 than 10-08.

Fourth - In 2008 to date we had sold 1899 homes and in 2007 to date we had sold 2388 homes. This shows us that recovery is happening slowly.

It continues to be a Buyers Market for most of the Lynchburg, VA RE Market. The $150,000 to $250,000 priced Homes continue to be about equally a Sellers/Buyers Market. However; as this inventory shrinks it will slowly change to a Seller's Market for this price range in the Lynchburg Area.

This information is taken from statistics for single family homes provided through the Lynchburg Association of REALTORS Multiple Listing Service and analyzed by Kathy Carson - there can be variables that affect my analysis. I supply this information as a service to my customers, clients and business associates.

11-4-09

KATHY MYERS CARSON, ABR, GRI