CITY OF CHARLOTTESVILLE HOUSING MARKET DATA

There was an increase in total units sold in May, with 87 sold this month in City of Charlottesville Real Estate versus 73 last month, an increase of 19%. This month's total units sold was higher than at this time last year, an increase of 24% versus May 2024.

Versus last year, the total number of homes available this month is higher by 55 units or 46%. The total number of active inventory this May was 174 compared to 119 in May 2024. This month's total of 174 is lower than the previous month's total supply of available inventory of 176, a decrease of 1%.

Last May, the median sale price for City of Charlottesville Homes was $603,700. This May, the median sale price was $505,000, a decrease of 16% or $98,700 compared to last year. The current median sold price is 1% higher 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 2.0 months of supply available in City of Charlottesville, compared to 1.7 in May 2024. That is an increase of 18% 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 108 homes newly listed for sale in City of Charlottesville compared to 93 in May 2024, an increase of 16%. There were 99 current contracts pending sale this May compared to 73 a year ago. The number of current contracts is 36% higher than last May.

In May, the average sale price in City of Charlottesville was 98.9% of the average list price, which is 1.6% lower than at this time last year.

This month, the average number of days on market was 32, higher than the average last year, which was 16, an increase of 100%.





FOCUS ON: CITY OF CHARLOTTESVILLE HOUSING MARKET			MAY 2025

Units Sold 87	Active Inventory 174	Median Sale Price $505,000	Days On Market 32

Up 24% Vs. Year Ago	Up 46% Vs. Year Ago	Down -16% Vs. Year Ago	Up 100% Vs. Year Ago


		Units Sold There was an increase in total units sold in May, with 87 sold this month in City of Charlottesville Real Estate versus 73 last month, an increase of 19%. This month's total units sold was higher than at this time last year, an increase of 24% versus May 2024.
Active Inventory Versus last year, the total number of homes available this month is higher by 55 units or 46%. The total number of active inventory this May was 174 compared to 119 in May 2024. This month's total of 174 is lower than the previous month's total supply of available inventory of 176, a decrease of 1%.
		Median Sale Price Last May, the median sale price for City of Charlottesville Homes was $603,700. This May, the median sale price was $505,000, a decrease of 16% or $98,700 compared to last year. The current median sold price is 1% higher 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 108	Current Contracts 99	Sold Vs. List Price 98.9%	Months of Supply 2.0

Up 16% Vs. Year Ago	Up 36% Vs. Year Ago	Down -1.6% Vs. Year Ago	Up 18% Vs. Year Ago


		Months of Supply In May, there was 2.0 months of supply available in City of Charlottesville, compared to 1.7 in May 2024. That is an increase of 18% 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 108 homes newly listed for sale in City of Charlottesville compared to 93 in May 2024, an increase of 16%. There were 99 current contracts pending sale this May compared to 73 a year ago. The number of current contracts is 36% higher than last May.
		Sale Price to List Price Ratio In May, the average sale price in City of Charlottesville was 98.9% of the average list price, which is 1.6% lower than at this time last year. Days on Market This month, the average number of days on market was 32, higher than the average last year, which was 16, an increase of 100%.



	*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.