Total Sales: Total sales increased by over 19% in Q3 2013 for the overall MSA in comparison to Q3 2012. With 859 homes sold, this is the strongest Q3 performance since 2007.
Inventory: Q3 2013 marks the fourth consecutive quarter of increasing inventory levels. However, given the level of sales this quarter, months of inventory decreased by 8.4% compared to Q3 2012, which is an indicator of a strengthening market.
Contracts: The number of contracts written rose by 12.5% from Q3 2012 indicating that Q4, a typically slower quarter, will see more activity this year.
Median Home Prices: Median home prices have risen in nearly all major categories on both a quarter-over-quarter and year-over-year basis. This is strong encouragement for those considering putting their home on the market.
Please review the full Q3 2013 Charlottesville Nest Report.