Happy 2016 Charlottesville! Each year as we prepare for the spring market, we first take a look back at the year that was in our local real estate market. We are proud to present the 2015 edition of the Nest Realty Annual Report – Charlottesville. We know that you’re often inundated with real estate market data that can be difficult to decipher. Our goal at Nest is to provide you with local, relevant, easy-to-understand data to empower you to confidently make informed decisions when the time arrives.
The most pervasive theme of 2015 in the Charlottesville market was the significant year-over-year decline in inventory. Despite the inventory decline, strong buyer demand in 2015 coupled with a modest decline in average sale price, led to a rise in total sales. As total sales and inventory levels continue to trend in opposite directions, we are seeing the market swing slightly in favor of sellers in certain pockets of the market, which could manifest itself in rising home prices in 2016. Overall, market indicators are positive and our market had another strong performance in 2015. To learn more about how the Charlottesville market performed last year, take a look at the highlights below and read the full 2015 Nest Realty Annual Report HERE.
- Total sales in the Charlottesville MSA rose approximately 7%
- Median sales price in the City of Charlottesville rose more than 3%
- Months of inventory in Albemarle County declined by 26%
- The Keswick area was the only geographic area to experience a year-over-year decline in sales
Have questions? Don’t hesitate to reach out directly to your Nest Broker to learn more.