The Long & Foster Market Minute

Focus On: Greater Charlottesville Housing Market December 2019

Zip Code(s): 22902, 22903, 22901 and 22911
Units Sold
Active Inventory
Median Sale Price
Days On Market
Up 6%
Vs. Year Ago
Down -21%
Vs. Year Ago
No Change
Vs. Year Ago
Down -18%
Vs. Year Ago

Units Sold
There was an increase in total units sold in December, with 144 sold this month in Greater Charlottesville Real Estate versus 112 last month, an increase of 29%. This month's total units sold was higher than at this time last year, an increase of 6% versus December 2018.

Active Inventory
Versus last year, the total number of homes available this month is lower by 70 units or 21%. The total number of active inventory this December was 259 compared to 329 in December 2018. This month's total of 259 is lower than the previous month's total supply of available inventory of 357, a decrease of 27%.

Median Sale Price
Last December, the median sale price for Greater Charlottesville Homes was $395,000. This December, the median sale price was $394,450, which is similar compared to a year ago. The current median sold price is 20% lower than in November.

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

New Listings
Current Contracts
Sold Vs. List Price
Months of Supply
Down -7%
Vs. Year Ago
Up 56%
Vs. Year Ago
Down -1.5%
Vs. Year Ago
Down -26%
Vs. Year Ago

Months of Supply
In December, there was 1.8 months of supply available in Greater Charlottesville, compared to 2.4 in December 2018. That is a decrease of 26% 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 71 homes newly listed for sale in Greater Charlottesville compared to 76 in December 2018, a decrease of 7%. There were 117 current contracts pending sale this December compared to 75 a year ago. The number of current contracts is 56% higher than last December.

Sale Price to List Price Ratio
In December, the average sale price in Greater Charlottesville was 97.7% of the average list price, which is 1.5% lower than at this time last year.

Days on Market
This month, the average number of days on market was 75, lower than the average last year, which was 91, a decrease of 18%.

The Long & Foster Market Minute 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.
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.