GREATER CHARLOTTESVILLE HOUSING MARKET DATA

There was an increase in total units sold in May, with 176 sold this month in Greater Charlottesville Real Estate, an increase of 23%. This month's total units sold is similar compared to a year ago.

Versus last year, the total number of homes available this month is higher by 130 units or 50%. The total number of active inventory this May was 389 compared to 259 in May 2024. This month's total of 389 is lower than the previous month's total supply of available inventory of 396, a decrease of 2%.

Last May, the median sale price for Greater Charlottesville Homes was $513,750. This May, the median sale price was $535,000, an increase of 4% or $21,250 compared to last year. The current median sold price is 4% 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 2.2 months of supply available in Greater Charlottesville, compared to 1.5 in May 2024. That is an increase of 50% 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 256 homes newly listed for sale in Greater Charlottesville compared to 231 in May 2024, an increase of 11%. There were 195 current contracts pending sale this May compared to 171 a year ago. The number of current contracts is 14% higher than last May.

In May, the average sale price in Greater Charlottesville was 100.6% of the average list price, which is similar compared to a year ago.

This month, the average number of days on market was 22, higher than the average last year, which was 18, an increase of 22%.





FOCUS ON: GREATER CHARLOTTESVILLE HOUSING MARKET			MAY 2025

Zip Code(s): 22902, 22903, 22901 and 22911
Units Sold 176	Active Inventory 389	Median Sale Price $535,000	Days On Market 22

No Change Vs. Year Ago	Up 50% Vs. Year Ago	Up 4% Vs. Year Ago	Up 22% Vs. Year Ago


		Units Sold There was an increase in total units sold in May, with 176 sold this month in Greater Charlottesville Real Estate, an increase of 23%. This month's total units sold is similar compared to a year ago.
Active Inventory Versus last year, the total number of homes available this month is higher by 130 units or 50%. The total number of active inventory this May was 389 compared to 259 in May 2024. This month's total of 389 is lower than the previous month's total supply of available inventory of 396, a decrease of 2%.
		Median Sale Price Last May, the median sale price for Greater Charlottesville Homes was $513,750. This May, the median sale price was $535,000, an increase of 4% or $21,250 compared to last year. The current median sold price is 4% 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 256	Current Contracts 195	Sold Vs. List Price 100.6%	Months of Supply 2.2

Up 11% Vs. Year Ago	Up 14% Vs. Year Ago	No Change Vs. Year Ago	Up 50% Vs. Year Ago


		Months of Supply In May, there was 2.2 months of supply available in Greater Charlottesville, compared to 1.5 in May 2024. That is an increase of 50% 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 256 homes newly listed for sale in Greater Charlottesville compared to 231 in May 2024, an increase of 11%. There were 195 current contracts pending sale this May compared to 171 a year ago. The number of current contracts is 14% higher than last May.
		Sale Price to List Price Ratio In May, the average sale price in Greater Charlottesville was 100.6% 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 22, higher than the average last year, which was 18, an increase of 22%.


	Greater Charlottesville are defined as properties listed in zip code/s 22902, 22903, 22901 and 22911.
	*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.