The Long & Foster Market Minute

Focus On: Charlottesville Area Housing Market June 2021

Units Sold
491
Active Inventory
410
Median Sale Price
$400,000
Days On Market
26
Up 28%
Vs. Year Ago
Down -52%
Vs. Year Ago
Up 17%
Vs. Year Ago
Down -58%
Vs. Year Ago

Units Sold
There was an increase in total units sold in June, with 491 sold this month in Charlottesville Area Real Estate versus 383 last month, an increase of 28%. This month's total units sold was higher than at this time last year, an increase of 28% versus June 2020.

Active Inventory
Versus last year, the total number of homes available this month is lower by 450 units or 52%. The total number of active inventory this June was 410 compared to 860 in June 2020. This month's supply remained stable as compared to last month.

Median Sale Price
Last June, the median sale price for Charlottesville Area Homes was $342,560. This June, the median sale price was approximately the same at $400,000. The current median sold price is 17% higher than in June 2020.

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


New Listings
448
Current Contracts
403
Sold Vs. List Price
101.0%
Months of Supply
0.8
Up 21%
Vs. Year Ago
Up 4%
Vs. Year Ago
Up 3%
Vs. Year Ago
Down -63%
Vs. Year Ago

Months of Supply
In June, there was 0.8 months of supply available in Charlottesville Area, compared to 2.2 in June 2020. That is a decrease of 63% 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 448 homes newly listed for sale in Charlottesville Area compared to 369 in June 2020, an increase of 21%. There were 403 current contracts pending sale this June compared to 386 a year ago. The number of current contracts is 4% higher than last June.

Sale Price to List Price Ratio
In June, the average sale price in Charlottesville Area was 101.0% of the average list price, which is 2.9% higher than at this time last year.

Days on Market
This month, the average number of days on market was 26, lower than the average last year, which was 62, a decrease of 58%.

The Long & Foster Market Minute *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.
REALTOR, Equal Opportunity HousingInformation 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.