City of Charlottesville Housing Market Data

There was an increase in total units sold in May, with 72 sold this month in City of Charlottesville Real Estate versus 67 last month, an increase of 7%. This month's total units sold was lower than at this time last year, a decrease of 23% versus May 2019.

Versus last year, the total number of homes available this month is lower by 74 units or 31%. The total number of active inventory this May was 162 compared to 236 in May 2019. This month's total of 162 is lower than the previous month's total supply of available inventory of 189, a decrease of 14%.

Last May, the median sale price for City of Charlottesville Homes was $377,450. This May, the median sale price was $370,500, a decrease of 2% or $6,950 compared to last year. The current median sold price is 11% 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 2.3 months of supply available in City of Charlottesville, compared to 2.5 in May 2019. That is a decrease of 10% 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 83 homes newly listed for sale in City of Charlottesville compared to 110 in May 2019, a decrease of 25%. There were 92 current contracts pending sale this May compared to 86 a year ago. The number of current contracts is 7% higher than last May.

In May, the average sale price in City of Charlottesville was 96.9% of the average list price, which is 0.9% lower than at this time last year.

This month, the average number of days on market was 65, higher than the average last year, which was 38, an increase of 71%.





Focus On: City of Charlottesville Housing Market			May 2020

Units Sold 72	Active Inventory 162	Median Sale Price $370,500	Days On Market 65

Down -23% Vs. Year Ago	Down -31% Vs. Year Ago	Down -2% Vs. Year Ago	Up 71% Vs. Year Ago


		Units Sold There was an increase in total units sold in May, with 72 sold this month in City of Charlottesville Real Estate versus 67 last month, an increase of 7%. This month's total units sold was lower than at this time last year, a decrease of 23% versus May 2019.
Active Inventory Versus last year, the total number of homes available this month is lower by 74 units or 31%. The total number of active inventory this May was 162 compared to 236 in May 2019. This month's total of 162 is lower than the previous month's total supply of available inventory of 189, a decrease of 14%.
		Median Sale Price Last May, the median sale price for City of Charlottesville Homes was $377,450. This May, the median sale price was $370,500, a decrease of 2% or $6,950 compared to last year. The current median sold price is 11% 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 83	Current Contracts 92	Sold Vs. List Price 96.9%	Months of Supply 2.3

Down -25% Vs. Year Ago	Up 7% Vs. Year Ago	Down -0.9% Vs. Year Ago	Down -10% Vs. Year Ago


		Months of Supply In May, there was 2.3 months of supply available in City of Charlottesville, compared to 2.5 in May 2019. That is a decrease of 10% 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 83 homes newly listed for sale in City of Charlottesville compared to 110 in May 2019, a decrease of 25%. There were 92 current contracts pending sale this May compared to 86 a year ago. The number of current contracts is 7% higher than last May.
		Sale Price to List Price Ratio In May, the average sale price in City of Charlottesville was 96.9% of the average list price, which is 0.9% lower than at this time last year. Days on Market This month, the average number of days on market was 65, higher than the average last year, which was 38, an increase of 71%.



	*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.