CHARLOTTESVILLE AREA HOUSING MARKET DATA

There was an increase in total units sold in March, with 209 sold this month in Charlottesville Area Real Estate. This month's total units sold was lower than at this time last year.

Versus last year, the total number of homes available this month is higher by 56 units or 13%. The total number of active inventory this March was 473 compared to 417 in March 2024. This month's total of 473 is higher than the previous month's total supply of available inventory of 417, an increase of 13%.

Last March, the median sale price for Charlottesville Area Homes was $514,642. This March, the median sale price was $490,000, a decrease of 5% or $24,642 compared to last year. The current median sold price is 7% higher than in February.

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

In March, there was 2.3 months of supply available in Charlottesville Area, compared to 1.9 in March 2024. That is an increase of 19% 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 430 homes newly listed for sale in Charlottesville Area compared to 368 in March 2024, an increase of 17%. There were 324 current contracts pending sale this March compared to 298 a year ago. The number of current contracts is 9% higher than last March.

In March, the average sale price in Charlottesville Area was 100.5% of the average list price, which is similar compared to a year ago.

This month, the average number of days on market was 40, lower than the average last year, which was 55, a decrease of 27%.





FOCUS ON: CHARLOTTESVILLE AREA HOUSING MARKET			MARCH 2025

Units Sold 209	Active Inventory 473	Median Sale Price $490,000	Days On Market 40

Down -5% Vs. Year Ago	Up 13% Vs. Year Ago	Down -5% Vs. Year Ago	Down -27% Vs. Year Ago


		Units Sold There was an increase in total units sold in March, with 209 sold this month in Charlottesville Area Real Estate. This month's total units sold was lower than at this time last year.
Active Inventory Versus last year, the total number of homes available this month is higher by 56 units or 13%. The total number of active inventory this March was 473 compared to 417 in March 2024. This month's total of 473 is higher than the previous month's total supply of available inventory of 417, an increase of 13%.
		Median Sale Price Last March, the median sale price for Charlottesville Area Homes was $514,642. This March, the median sale price was $490,000, a decrease of 5% or $24,642 compared to last year. The current median sold price is 7% higher than in February. Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.



New Listings 430	Current Contracts 324	Sold Vs. List Price 100.5%	Months of Supply 2.3

Up 17% Vs. Year Ago	Up 9% Vs. Year Ago	No Change Vs. Year Ago	Up 19% Vs. Year Ago


		Months of Supply In March, there was 2.3 months of supply available in Charlottesville Area, compared to 1.9 in March 2024. That is an increase of 19% 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 430 homes newly listed for sale in Charlottesville Area compared to 368 in March 2024, an increase of 17%. There were 324 current contracts pending sale this March compared to 298 a year ago. The number of current contracts is 9% higher than last March.
		Sale Price to List Price Ratio In March, the average sale price in Charlottesville Area was 100.5% 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 40, lower than the average last year, which was 55, a decrease of 27%.


	*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.