Stable news is good news.
We’ve just released the Third Quarter 2015 Nest Market Report for the Charlottesville area. All indicators point to a stable market.
Here are some highlights:
Charlottesville MSA
- Total sales levels for 2015’s third quarter are flat, year-over-year.
- Inventory levels are at a four-year low.
- Quality homes continue to sell quickly, averaging 74 days on the market.
Albemarle
- Albemarle sales trends mirrored those of the MSA, remaining flat, year-over-year.
- Year-over-year, the average sales price of a single-family home dropped over 9%.
- Inventory levels declined 18%, as compared to 2014’s third quarter levels.
Charlottesville City
- Total sales in the city of Charlottesville dropped 16%, as compared to 2014’s third quarter totals.
- Inventory declines resulted in median prices rising over 3.5%.
- The number of single-family contracts written rose over 20%.
Nest’s Jim Duncan spoke with NBC 29 to explain that the drop in sales is nothing out-of the-ordinary. Explains Duncan, “We have a fairly strong economy, we have good interest rates, and we have a desirable place to live, so all those factors comes together to say it’s not a bad time to buy.” View NBC 29’s coverage to hear the full report.
NBC29 WVIR Charlottesville, VA News, Sports and Weather
NewsPlex spoke to Nest’s Keith Davis about why it’s still a decent time to sell. Says Davis, “There are very few buyers in the fall, but those who are active in the buyer’s market in the fall are serious about buying. Sellers should keep their houses on the market through this time period.” View the NewPlex coverage here.
Be sure to check back on the Nest Realty Charlottesville blog for more information about the housing market. For real estate market updates on Fluvanna County, Greene County, Louisa County, and Nelson County, you can view the full Charlottesville Third-Quarter Report here.