The State of the Real Estate Market in Lynchburg in February 2025

A popular question I’m often asked is, “So, how’s the market?”  It’s a conversation starter, but, with a person’s home being one of, if not THE largest asset they have, people want to know!  The state of the real estate market in Lynchburg in the winter of 2025 is steady, but, as always, changing!

I heard a statistic today that the average days on market for a home in Lynchburg (meaning how many days on market homes are on average before they go under contract) has changed from approximately 27 days on market in 2023, to 36 days on market in 2024, and is expected to rise to 49 days on market in 2025.  That means demand is softening, fueled by higher interest rates and the phenomenon created by so many people locked in to low interest rates from the past several years.  I often hear “I don’t want to lose my great rate, so I’m not going ANYWHERE!”

As demand softens, inventory (the number of available homes for sale in Lynchburg, Bedford County, Campbell County, and Amherst County) is beginning to rise.  In February of 2023 in the greater Lynchburg area, there were 246 homes available for sale.  In February of 2024 that rose to 352.  In February of 2025, that number has increased to 421.  By the data, we’re still in a Sellers Market, but the inventory is finally starting to increase, giving more options and negotiating power for buyers.

If you’re a home buyer, the market conditions mean that you will have more negotiating power and possibly more options to look at!  If you’re a home seller, you should expect your home to take longer to sell and that there may be some negotiations with the buyer.

Whether your buying a home in Forest, Virginia, selling a home in Rustburg, or looking for a new home in Lynchburg, we’re here to help!  Give us  a call today and put our knowledge and experience to work for You!