The prices in real estate in Lynchburg, in the Virginia region have had a strong rise in the last couple of months. The real estate prices for second hand homes have gone through a strong increase in this city.
The price per sq.feet in Lynchburg has increased strongly during the last 6 months. In March, the average price per sq.feet was $109. In April this price pretty much remained the same at a value of $113 per sq.feet. The price for the following two months in (May, June) had a considerable increment of 116 %. The price per sq.feet has had a considerable increase of 599 % in the last two months compared to the average price for the previous four months. This was obtained by comparing the first four months of the period going from a price per sq.feet of $119.75 to $717 during July, and August.
Based upon to the price in Lynchburg (cities), this has gone up considerably in the last 6 months. The price in March is $210,669, rising in April till $227,241. During the following two months (May, June) the average price had a considerable increase of 123 % with regard to the previous two months. Based on an analysis of the first four prices and the last two months the average price has risen strongly 253 % during the last two months.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of $713,784 they are 91 % more affordable than the average price for Lynchburg. The properties with the lowest average price have 4 bedrooms, Their price is 68 % cheaper than the average. After that we have properties with 3 bedrooms priced at $159,513.
With regard to the average price per sq.feet , those properties with 2 bedrooms are the cheapest ones at a cost of $75 / sq.feet, with an average $752 / sq.feet price in Lynchburg. The properties with the lowest average prices have 1 bedroom. They are 84 % cheaper than the average followed by properties with 3 bedrooms with a price at $93 / sq.feet.
The graph displaying the average prices displays the property type "Apartment" as the most affordable one. At an cost of $713,784 it is 78 % cheaper than the average price in Lynchburg. "Condo" is seen as the second most affordable property type. The cheapest type property is "House" followed by "Office". At a price of $233,563 it is 61 % more affordable than the average price.
According to the average cost per sq.feet, the cheapest property type is "Apartment" at an average cost of $75 / sq.feet followed by "Condo" priced at $85 / sq.feet. "House" is the cheapest type of property with a $112 / sq.feet value followed by "Office" with an average price of $90 / sq.feet.