2016 is in the books and 2017 is underway. We are proud to present the 2016 Charlottesville Annual Report. In today’s world, data is everywhere. Our Annual Report is designed to deliver you the data you need in an approachable and easy to understand manner so that you can make informed real estate decisions. We pride ourselves on being experts in our field and we hope you find this report to be a valuable resource in understanding the Charlottesville real estate market.
2016 was certainly a memorable year in the Charlottesville area real estate market. As we experienced in 2015, inventory levels continued to decline in 2016. Buyer demand however, remained strong, resulting in a year-over-year increase in total sales. As a result of decreased inventory levels, sales prices increased in 2016 compared to 2015 levels. As we move into 2017, our marketplace is in an interesting position. Buyer demand remains strong, but limited inventory and uncertainty regarding interest rates seem to be giving some buyers, and potential sellers, hesitation. To learn more about how the Charlottesville area market performed last year, take a look at the highlights below and read the full 2016 Nest Realty Annual Report here.
- Total sales in the Charlottesville MSA rose 7%
- Median sales prices in Albemarle County rose nearly 4%
- Months of inventory in the City of Charlottesville fell to just under 2 months
Have questions about what this report means for you? Don’t hesitate to reach out to your Nest Broker to learn more.