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24501 Housing Market Report June 2025•Lynchburg County, Virginia

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Housing Prices in 24501, VA

How much do homes in 24501, VA cost?

Housing Market Conditions

Is 24501, VA a buyer’s or seller’s market?

Housing Market Conditions

This is the supply and demand for houses in an area based on home prices and trends.

Buyer’s Market

A buyer’s market occurs when the number of available properties for sale exceeds the number of buyers looking to purchase. In a buyer’s market, the supply exceeds the demand.

Neutral Market

A neutral market occurs when the number of buyers looking to purchase properties meets the number of available properties for sale. In a balanced market, there are enough homes to meet the demand.

Seller’s Market

A seller’s market occurs when there are more buyers looking to purchase properties than there are available homes on the market. In a seller’s market, the demand exceeds the supply.

Seller'sMarket

Buyer'sMarket

24501 is a Seller's Market

Difference Since June 2024

At the same time last year, 24501 was a Neutral Market.

Insight

24501 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Median Sold Price

Median Sold Price
This is the middle price for which all homes in the area were sold. Half of all the homes sold were below this price, and half were above.
$214,700$150/SqFt
+$9,200
+4.5%

Based on all homes sold in the last 12 months

Insight

Homes in 24501 have sold for 4.5% more than they did a year ago.

Summary: The median home sold price in 24501 was $214,700 in June 2025, up 4.5% from last year, and the median price per square foot was $150.

Median Sold Price By Zip Codes

Median Sold Price By Zip Codes
This is the middle price for which all homes in the area were sold compared to surrounding cities. Half of all the homes sold were below this price, and half were above.
CityChange YoY
24504
+8.2%
24588
+6.5%
24503
+6.2%
24501
+4.5%
24502
+2.9%

Median Sold Price By Bedrooms

Median Sold Price By Bedrooms
This is the middle price for all homes actively listed in an area broken out by the number of bedrooms. Half of the homes are listed below this price, and half are above.
BedsJun 2024Jun 2025Change YoY
1$107.7K$91K
-15.5%
2$160K$147.2K
-8.0%
3$200K$228.1K
+14.1%
4$300.5K$310K
+3.1%
5$312.4K$334.9K
+7.2%

Summary: 24501 housing price by bedroom type for June 2025, compared to the previous year. The home price for 1 bedroom homes decreased by -15.5%. The home price for 2 bedroom homes decreased by -8.0%. The home price for 3 bedroom homes increased by +14.1%. The home price for 4 bedroom homes increased by +3.1%. The home price for 5 bedroom homes increased by +7.2%.

How does 24501, VA compare with other places?

Market comparison tool

Data and numbers shown are subject to change and may vary based on different timeframes.

24501, VA

Housing supply in 24501, VA

How many homes are available in 24501, VA?

Number of Homes For Sale

Number of Homes For Sale
This is the total number of homes actively listed in an area.
Last Month2 months agoChange MoM
132Last MonthJun 2025
1372 months agoMay 2025
-3.6 %
Change MoMMay – Jun

Summary: The 24501 real estate market had 132 homes for sale in Jun 2025, a 3.6 % decrease compared to May 2025.

Number of Homes Sold

Number of Homes Sold
This is the total number of both homes sold and pending in an area.
Last Month2 months agoChange MoM
29Last MonthJun 2025
432 months agoMay 2025
-32.6 %
Change MoMMay – Jun

Homes For Sale By Bedroom Count

Homes For Sale By Bedroom Count
This is the total number of homes actively listed in an area by number of bedrooms.
BedsMay 2025Jun 2025Change MoM
143
-25.0%
24446
+4.5%
36962
-10.1%
41616
0.0%
545
+25.0%

Summary: 24501 housing inventory by bedroom type for June 2025, compared to the previous month. The inventory for 1 bedroom homes decreased by -25.0%. The inventory for 2 bedroom homes increased by +4.5%. The inventory for 3 bedroom homes decreased by -10.1%. The inventory for 4 bedroom homes remained the same. The inventory for 5 bedroom homes increased by +25.0%.

Asking Price vs. Sold Price

How much do homes in 24501, VA cost?

Asking Price vs. Sold Price

The asking price is how much a home is listed for. The selling price is how much the home actually sold for.

Under Asking

Homes that sold for less than the asking price

At Asking

Homes that sold at their asking price

Over Asking

Homes that sold above the asking price

Over Asking Price12 Homes

At Asking Price9 Homes

Under Asking Price8 Homes

Insight

If you're buying a home in 24501, you could pay more than the asking price. 41.4% of homes here sold above asking price last month.

Summary: A total of 29 homes were sold or pending in 24501 in June 2025, down by 32.6% month-over-month. Of the 29 sold homes, 28% were sold under asking, 31% were sold at asking, and and 41% were sold over asking.

Days on Market for 24501, VA

How long does it take to sell a home in 24501, VA?

Breakdown of Home Sale Times

Under 30 Days22 Homes

30 – 90 Days5 Homes

Over 90 Days1 Home

Insight

Many homes in 24501 are selling fast, if you're buying plan to act quickly.

Summary: During June 2025, 29 homes were sold in 24501; 76% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 3% of homes were sold over 90 days.

Average Sale Time

Average Sale Time
This is the average number of days homes take to sell in an area.
This Year1 year agoChange YoY
21 DaysThis YearJun 2025
22 Days1 year agoJun 2024
-5.4 %
Change YoYJun 2024 – Jun 2025

Summary: Homes in 24501 had an average listing age of 21 days in Jun 2025, down by 5.4% compared to the previous year.

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Newest Listings in 24501, VA

What homes are available in 24501, VA?

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Nearby markets

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MLS Disclaimers and Copyright

Based on information from Lynchburg MLS, Roanoke Valley Association of Realtors MLS, and Harrisonburg-Rockingham Association of Realtors MLS for the period 07/01/2023 - 07/01/2025

Information is provided by the Lynchburg Association of REALTORS®. Information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. All properties are subject to prior sale, change or withdrawal. Listing(s) information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Copyright 2025 Lynchburg Association of REALTORS®. All rights reserved.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 7/16/2025, 3:45:33 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
IDXAlthough the Multiple Listing Service of The Roanoke Valley is the single source for these listings, listing data appearing on this web site does not necessarily reflect the entirety of all available listings within the Multiple Listing Service. All listing data is refreshed regularly, but its accuracy is subject to market changes.

All copyrights and intellectual property rights are the exclusive property of the Multiple Listing Service of The Roanoke Valley. Whether obtained from a search result or otherwise, visitors to this web site may only use this listing data for their personal, non-commercial benefit. IDX information is provided exclusively for consumers’ personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The unauthorized retrieval or use of this listing data is prohibited.

All information is deemed reliable but not guaranteed, and should be independently verified. Some properties which appear for sale on this web site may subsequently have sold or may no longer be available.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 7/16/2025, 3:45:28 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
Broker Reciprocity The data relating to real estate for sale on this site comes in part from the Broker Reciprocity/IDX program of Charlottesville Area Association of REALTORS®, Greater Augusta Association of REALTORS® and Harrisonburg-Rockingham Association of REALTORS®. Real estate listings held by other brokerage firms are marked with the BR logo and detailed information about them includes the name of the listing brokers. Listing broker has attempted to offer accurate data, but buyers are advised to confirm all items. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information provided is thought to be reliable but is not guaranteed to be accurate; you are advised to verify facts that are important to you. No warranties, expressed or implied, are provided for the data herein, or for their use or interpretation by the user. The Charlottesville Area Association of REALTORS®, Greater Augusta Association of REALTORS® and Harrisonburg-Rockingham Association of REALTORS® does not create, control or review the property data displayed herein and take no responsibility for the content of such records. Federal law prohibits discrimination on the basis of race, color, religion, sex, handicap, familial status or national origin in the sale, rental or financing of housing. Information deemed reliable but not guaranteed. Copyright © 2025 Charlottesville Area Association of REALTORS®, Greater Augusta Association of REALTORS® and Harrisonburg-Rockingham Association of REALTORS®. All Rights Reserved.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 7/16/2025, 3:45:35 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.