CHARLOTTESVILLE AREA HOUSING MARKET DATA

There was an increase in total units sold in May, with 312 sold this month in Charlottesville Area Real Estate versus 248 last month, an increase of 26%. This month's total units sold was lower than at this time last year, a decrease of 6% versus May 2024.

Versus last year, the total number of homes available this month is higher by 127 units or 20%. The total number of active inventory this May was 776 compared to 649 in May 2024. This month's total of 776 is higher than the previous month's total supply of available inventory of 765, an increase of 1%.

Last May, the median sale price for Charlottesville Area Homes was $475,000. This May, the median sale price was $489,950, an increase of 3% or $14,950 compared to last year. The current median sold price is 2% lower than in April.

Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.

In May, there was 2.5 months of supply available in Charlottesville Area, compared to 2.0 in May 2024. That is an increase of 27% versus a year ago.

Months of supply is calculated by dividing current inventory by current sales. It indicates how many months would be needed to sell all of the inventory available at the current rate of demand.

This month there were 442 homes newly listed for sale in Charlottesville Area compared to 438 in May 2024, an increase of 1%. There were 329 current contracts pending sale this May compared to 317 a year ago. The number of current contracts is 4% higher than last May.

In May, the average sale price in Charlottesville Area was 100.2% of the average list price, which is similar compared to a year ago.

This month, the average number of days on market was 27, lower than the average last year, which was 28, a decrease of 4%.





FOCUS ON: CHARLOTTESVILLE AREA HOUSING MARKET			MAY 2025

Units Sold 312	Active Inventory 776	Median Sale Price $489,950	Days On Market 27

Down -6% Vs. Year Ago	Up 20% Vs. Year Ago	Up 3% Vs. Year Ago	Down -4% Vs. Year Ago


		Units Sold There was an increase in total units sold in May, with 312 sold this month in Charlottesville Area Real Estate versus 248 last month, an increase of 26%. This month's total units sold was lower than at this time last year, a decrease of 6% versus May 2024.
Active Inventory Versus last year, the total number of homes available this month is higher by 127 units or 20%. The total number of active inventory this May was 776 compared to 649 in May 2024. This month's total of 776 is higher than the previous month's total supply of available inventory of 765, an increase of 1%.
		Median Sale Price Last May, the median sale price for Charlottesville Area Homes was $475,000. This May, the median sale price was $489,950, an increase of 3% or $14,950 compared to last year. The current median sold price is 2% lower than in April. Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.



New Listings 442	Current Contracts 329	Sold Vs. List Price 100.2%	Months of Supply 2.5

Up 1% Vs. Year Ago	Up 4% Vs. Year Ago	No Change Vs. Year Ago	Up 27% Vs. Year Ago


		Months of Supply In May, there was 2.5 months of supply available in Charlottesville Area, compared to 2.0 in May 2024. That is an increase of 27% versus a year ago. Months of supply is calculated by dividing current inventory by current sales. It indicates how many months would be needed to sell all of the inventory available at the current rate of demand.
New Listings & Current Contracts This month there were 442 homes newly listed for sale in Charlottesville Area compared to 438 in May 2024, an increase of 1%. There were 329 current contracts pending sale this May compared to 317 a year ago. The number of current contracts is 4% higher than last May.
		Sale Price to List Price Ratio In May, the average sale price in Charlottesville Area was 100.2% of the average list price, which is similar compared to a year ago. Days on Market This month, the average number of days on market was 27, lower than the average last year, which was 28, a decrease of 4%.


	*Defined as the counties of Albemarle, Fluvanna, Greene, and Nelson and the city of Charlottesville in VA
	*Detached, Attached, and Condo varies by local area Multiple Listing Service (MLS) definition. For more information regarding your specific market, contact one of Long & Foster's knowledgeable and experienced sales associates.
	Information included in this report is based on data supplied by CGAHR and its member Association(s) of REALTORS, who are not responsible for its accuracy. Does not reflect all activity in the marketplace. Information contained in this report is deemed reliable but not guaranteed, should be independently verified, and does not constitute an opinion of CGAHR or Long & Foster Real Estate, Inc.