After a somewhat disappointing March and April, the Charlottesville real estate market bounced back pretty well in May. We were beginning to wonder if the unseasonably warm weather had just pushed up the spring market a bit…but strong sales activity in May seems to have squashed that belief.
You can check out the full Charlottesville real estate market report below…but here’s a few highlights:
– Year-over-year May sales were up 10%
– Inventory levels are down
– Months of Inventory levels are down
– DOMs for single family and attached/condos are creeping downward ever-so-slightly
– Contracts written year-to-date are now at their highest point since 2007
– Contracts written in May were the highest since 2008
– Charlottesville City continues to be the leading market segment: median price up 1.37%, DOM down 4.5%, total sales up 53%, inventory down 18%, Months of Inventory down 46% to 5.88 months.
– Albemarle County stats are looking positive also – most data points are positive year-over-year.
– Fluvanna had an amazingly strong month. Sales were up almost 20% and Months of Inventory was down almost 20%. Contracts written skyrocketed from 14 to 42.
Nest Report Charlottesville: May 2012
Please contact your favorite Charlottesville Realtor if you have any questions.