CHARLOTTESVILLE AREA HOUSING MARKET DATA

There was a decrease in total units sold in January, with 157 sold this month in Charlottesville Area Real Estate versus 237 last month, a decrease of 34%. This month's total units sold was higher than at this time last year, an increase of 19% versus January 2024.

Versus last year, the total number of homes available this month is lower by 33 units or 9%. The total number of active inventory this January was 334 compared to 367 in January 2024. This month's total of 334 is lower than the previous month's total supply of available inventory of 359, a decrease of 7%.

Last January, the median sale price for Charlottesville Area Homes was $436,000. This January, the median sale price was $499,900, an increase of 15% or $63,900 compared to last year. The current median sold price is 2% higher than in December.

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

In January, there was 2.1 months of supply available in Charlottesville Area, compared to 2.8 in January 2024. That is a decrease of 23% 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 187 homes newly listed for sale in Charlottesville Area compared to 235 in January 2024, a decrease of 20%. There were 167 current contracts pending sale this January compared to 179 a year ago. The number of current contracts is 7% lower than last January.

In January, the average sale price in Charlottesville Area was 98.5% of the average list price, which is 0.8% higher than at this time last year.

This month, the average number of days on market was 47, higher than the average last year, which was 44, an increase of 7%.





FOCUS ON: CHARLOTTESVILLE AREA HOUSING MARKET			JANUARY 2025

Units Sold 157	Active Inventory 334	Median Sale Price $499,900	Days On Market 47

Up 19% Vs. Year Ago	Down -9% Vs. Year Ago	Up 15% Vs. Year Ago	Up 7% Vs. Year Ago


		Units Sold There was a decrease in total units sold in January, with 157 sold this month in Charlottesville Area Real Estate versus 237 last month, a decrease of 34%. This month's total units sold was higher than at this time last year, an increase of 19% versus January 2024.
Active Inventory Versus last year, the total number of homes available this month is lower by 33 units or 9%. The total number of active inventory this January was 334 compared to 367 in January 2024. This month's total of 334 is lower than the previous month's total supply of available inventory of 359, a decrease of 7%.
		Median Sale Price Last January, the median sale price for Charlottesville Area Homes was $436,000. This January, the median sale price was $499,900, an increase of 15% or $63,900 compared to last year. The current median sold price is 2% higher than in December. Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.



New Listings 187	Current Contracts 167	Sold Vs. List Price 98.5%	Months of Supply 2.1

Down -20% Vs. Year Ago	Down -7% Vs. Year Ago	Up 0.8% Vs. Year Ago	Down -23% Vs. Year Ago


		Months of Supply In January, there was 2.1 months of supply available in Charlottesville Area, compared to 2.8 in January 2024. That is a decrease of 23% 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 187 homes newly listed for sale in Charlottesville Area compared to 235 in January 2024, a decrease of 20%. There were 167 current contracts pending sale this January compared to 179 a year ago. The number of current contracts is 7% lower than last January.
		Sale Price to List Price Ratio In January, the average sale price in Charlottesville Area was 98.5% of the average list price, which is 0.8% higher than at this time last year. Days on Market This month, the average number of days on market was 47, higher than the average last year, which was 44, an increase of 7%.


	*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.