2022 Housing Market Update

As the new year begins, I wanted to provide an update on the available housing inventory levels in our area, comparing the previous 2 years we well.

Lynchburg City, All price ranges, all zip codes: In Jan. of 2020 there were 159 homes for sale. In January of 2021 that number dropped to 84. Now in January of 2022 there are 46 homes for sale in all of Lynchburg City.

Bedford County, All price ranges, zip codes near Lynchburg: January of 2020: 160 homes for sale. In January of 2021, 97. At the start of this year, there are 62 homes available.

Campbell County,  All price ranges, zip codes near Lynchburg: January of 2020: 97 homes for sale. In January of 2021 that dropped to 86. As this year begins, there are 52 homes for sale.

Amherst County, All price ranges, zip code near Lynchburg (24572, 24521): January of 2020: 74 homes for sale. In January of 2021: 30. Right now there are 23 homes for sale.

In summary, in January of 2020, if you wanted to purchase a home in or around the Lynchburg area, there were a total of 790 homes to choose from (all price ranges). As 2022 begins, in that same geographic area, there are 183 homes to choose from. Some buyers get discouraged when viewing these statistics. Prospective sellers see these numbers and love what they can get for their home but wonder where they will move to once they sell. I’d like to encourage both groups: buying or selling/buying a home is not impossible in today’s market! We’re here to provide tools and strategies to guide you through the process. Give us a call today, we love talking real estate with our clients and their friends!