About Lynchburg City County, VA

Kathy Myers Carson, Realtor

434-660-4025 kcarson@jetbroadband.com

OCTOBER 2011 - LYNCHBURG HOUSING REPORT

Houses for Sale (current MLS) 1754 (11-5-2011)

New Listings for October 2011 248

Houses Sold in October 2011 127

• Average Days on the Market = 155/174 (Positive - 10 to 15 days shorter than 9-11)
• Sale Price % to List Price = 94.80% (Positive – up 3/12% from 9-11)
• Average Sales Price = $ 147,956 (Negative – down $30,726 from 9-11)

There is a 12 Month Inventory of HOMES for SALE in the Lynchburg MLS

Specific Areas: Interesting Information!

Amherst 15.33 months of Inventory

Lynchburg (24502/01 $100K to $200K) 15.33 months of Inventory

Lynchburg (24503 $90K to $150K) 9.74 months of Inventory

Lynchburg (24503 $150K to $300K) 9.79 months of Inventory

Camp Co (BHS $100K to $200K) 8.60 months of Inventory

Camp Co (BHS over $200K) 35.00 months of Inventory

Camp Co (Yellowbranch $150K to $225K) 14.61 months of Inventory

Forest ($100K to $200K) 1.43 month of Inventory

Forest ($200K and over) 12.00 months of Inventory

JF/BHS/Rust ($175K to $250K) 8.25 months of Inventory

Strong “BUYERS MARKET”

Amherst, Central Lynchburg (Ft Hill, Old Forest Rd, Sandusky…), Camp Co (BHS $200K), Camp Co (Yellowbranch $150Kto $225K), Forest ($200K +)

Strong “SELLERS MARKET”

Forest ($100K to $200K)

Moving toward a more “Balanced Market” (6 months inventory)

Lynchburg (24503 $90K to $150K), Lynchburg (24503 $150K to $300K), Campbell Co (BHS $100K to $200K), JF/BHS/Rustburg High School Districts ($175K to $250K)

What does this mean?

If you are a Seller – check your Market – is your price attracting Buyers?

If you are a Buyer – check the stats of the neighborhood you want to live in. This is an overall glimpse of an area (not a subdivision, street or development) – I can run the stats for you for your specific price range and the specific area you are exploring to buy!

This information is taken from statistics for single family homes provided through the LAR MLS & analyzed by Kathy Carson-

There can be variables that affect my analysis. I supply this information for my customers, clients & business associates.

Absorptions Rates are very important in deciding whether to list your home or how to price your home. I did a little research yesterday on my area and this is what I found in the City of Lynchburg, Va.

The criteria I used is Lynchburg, Va., price range $125,000-$180,000, Lynchburg School District for 3 and 6 months.

In the last 6 months 73 Homes have closed in Lynchburg, Va. in this criteria.

The average homes sold per month - 12

Current Active in MLS (Active, Pending, Sold, Withdrawn, Expired) 287

Month Supply of Inventory to be Absorbed IF NO OTHER HOMES COME ON THE MARKET - 24 months

% Probabiiity of Selling - 25%

In the last 3 months 36 Homes have closed in Lynchburg, Va. in this criteria.

The average homes sold per month - 12

Current Active MLS (Active, Pending, Sold, Withdrawn, Expired) - 160

Month Supply of Inventory to be absorbed IF NO OTHER HOMES COME ON THE MARKET - 13 months

7.5 % Chance of selling your home in 30 Days!

What do all these numbers mean? It means that we have more then a 6 months supply of homes on the market which is an unbalanced market. There are not enough buyers to purchase the supply.

What does this mean for a seller? If means you must price your home to sell, stage your home to sell and be patient.

New listing presented by Pat Preston-42 Lime Rock Rd. 2 acres-3BR*2BA-$146,500

MLS#263826-1375 SQ FT. 3 BR*2BA

DIRECTIONS:Timberlake Rd to left on Waterlick Rd. towards Lawyers Rd, right on Lime Rock. Home faces Waterlick Rd. OR Rt.29S to right on Lawyers Rd.,Right on Waterlick Rd.to left on Lime Rock. House faces Waterlick Road but rear driveway is on Lime Rock.

Totally remodeled. Brookville schools. 2+ acres. This Brick ranch has just received a face lift and now has a new eat in Kitchen, main level laundry room, new replacement windows, new HVAC system, new roof, new plumbing, new electrical,new hot water tank, new insulation, and a new deck right off of the dining area. A full unfinished basement adds a clean and dry storage area, work room area or is ready for you to finish into additional living space. Zoned A-1 so bring the pets of your choice. Located less than 2 miles from Timberlake Rd. or Rt.29.

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Call

Pat Preston BROKER/OWNER

ABR, CDPE, CRB,CREA,CRS,GRI,SRES

at

Office Phone: (434) 832-1100 x 320

Cell Phone: (434) 841-9001

for more information

or to schedule a showing

Check out MY WEBSITE for more real estate info in the Lynchburg Va area

www.patpreston.realtor.com

Winter is back with a vengeance and snow is on its way.......are you prepared?

Last December, a 90 minute drive from Virginia Tech to Lynchburg turned into an 8 hour adventure to get home safely the next day. It started snowing shortly after the graduation ceremonies ended and we were caught in the worst snowstorm we've experienced since we moved to Virginia. Blinding snow fell for hours and cars couldn't make it up hills, they were abandoned on the side of the road, trucks blocked on-ramps to highways and hundreds of people were stranded on the interstate. After hours of creeping along the streets of Blacksburg, we were fortunate to find a hotel room for the night.

Be prepared for what is coming: Visit the ready.gov Winter Weather website for more information:

Step 1: Get a Kit For Your Car

• Get an Emergency Supply Kit which includes items like non-perishable food, water, a battery-powered or hand-crank radio, extra flashlights and batteries.
• Thoroughly check and update your family's Emergency Supply Kit before winter approaches and add the following supplies in preparation for winter weather:
  • Rock salt to melt ice on walkways
  • Sand to improve traction
  • Snow shovels and other snow removal equipment.
  • Also include adequate clothing and blankets to keep you warm

For the latest information on local weather, school closings & delays, check out the following links:

Lynchburg, WSET.COM

NATIONAL WEATHER SERVICE

Roanoke Weather Info

LOCAL EMERGENCY SERVICES

Public Schools:

LYNCHBURG CITY SCHOOLS

BEDFORD COUNTY SCHOOLS

CAMPBELL COUNTY SCHOOLS

AMHERST COUNTY SCHOOLS

APPOMATTOX COUNTY SCHOOLS

ROANOKE CITY SCHOOLS

LOCAL RADIO STATIONS