Charlottesville Real Estate Market Report: Mid-Year 2015

We’ve just released our Charlottesville Mid-Year 2015 Nest Report.  As expected, total sales in the Charlottesville MSA are up.  In addition, inventory is down fairly significantly (-25%) from this time in 2014.  Here are some highlights:

Charlottesville MSA

1. Total sales are up 7% from 2014

2. The median sales price is up slightly to $271,657, as compared to $265,000 in 2014

3. Single family home sales, which account for over 75% of sales, are up approximately 4%.  In addition, median prices for single family homes are up 4%.

4. On average, homes are selling significantly faster. Days on Market are down nearly 10%  as compared to the first half of 2014 and 23% as compared to 2014.

Albemarle County

1. Total sales in Albemarle County are up 9% from 2014.

2. Albemarle Days on Market are down 18% year-over-year.

3. Inventory levels are lower than historical averages at the mid-year point, dropping to 4 months of inventory.  Year-over-year inventory is down 22% in Albemarle County.

Charlottesville City 

1. Total sales in the City of Charlottesville are up 4% from 2014

2. Interestingly, the median price is down in 2015 to $264,000.  It was $276,000 at this point last year.

3. Inventory levels are down 44% year-over-year.  Months of inventory are only 3 months, putting the City squarely in the ‘seller’s market’ category.

For real estate market updates on Fluvanna County, Greene County, Louisa County, and Nelson County, you can view the full Charlottesville Mid-Year Report here.

Spread the love

Written by
Posted in Charlottesville, Charlottesville Market Reports
Tags: , , ,
Comments closed

Comments are closed.

Join our Newsletter

×