2017 Mid-Year Charlottesville Nest Report

The first half of 2017 has come and gone. As we look back at how the Charlottesville real estate market performed in the first half of the year, we are excited to release the Charlottesville 2017 Mid-Year Nest Report. It’s been an interesting year so far in the Charlottesville real estate market. Homes are entering the market at a higher rate than recent years but are also selling at a faster pace. Total sales are up slightly across the region, but limited inventory levels have constrained market activity. Limited inventory has also put upward pressure on prices, but buyer demand remains strong. Check out the full 2017 Mid-Year Charlottesville Nest Report and find out more about how the Charlottesville real estate market performed in the first half of 2017. Keep reading for the highlights from the first half of the year.

Charlottesville MSA

1. Total sales increased 4% year-over-year.
2. Total inventory levels were down 8% compared to the same time last year.
3. Contract activity is up 7% compared to the first half of 2016.

City of Charlottesville

1. Total sales are down 5% compared to the first half of 2016
2. Average days on market dropped to 33 days.
3. There were just 2 months of inventory at the end of this past quarter.

Albemarle County

1. Inventory levels remained relatively unchanged compared to the same time last year.
2. Total sales increased slightly at 1% compared to the first half of 2016.
3. Median sales prices in the single family segment rose nearly 12% year-over-year.

For info on how Fluvanna County, Greene County, Louisa County, and Nelson County performed be sure to check out the full report here. Have questions? Be sure to contact your Nest Broker today to learn more and find out what this report means for you.