Charlottesville Real Estate Mid-Year Market Report 2019
Before 2019 comes to a close, we are excited to give you the highlights for our 2019 Charlottesville Real Estate Mid-Year Market Report. Every key player in the real estate industry must understand the market to make confident decisions. Learning about market trends gives us an edge over our competitors.
Note: The latest data we have for this article comes from an April report from highly reliable sources.
In snapshot, total sales in Charlottesville real estate decreased, while prices and inventory numbers rose.
At a Glance
Total sales decreased by 2% across Charlottesville MSA in the first half of the year. There were 1,942 houses sold, a decrease of 1.7% from last year’s figure, with 1,975 total sales.
There was an increase in the median sales price of 1.6%, from 2018’s median sales price of $310, 000, now its $315,000.
The median list price was $399,000, 10.1% higher than in 2018. List price/ Sq. Ft.: 195.
The average days the listing stayed in the market for 63 days, a 10.5% increase from last year. Within the Charlottesville MSA area, the listing only stayed for an average of 38 days in the City of Charlottesville.
Charlottesville’s current home values registered at $271,100, 3.8% increase from last year. Home values in major cities in Charlottesville were: Palmyra: $214,300; Ruckersville: $234,000; Crozet: $371,300; Troy: $254,400; and Barboursville: $265,100.
Charlottesville Real Estate by Numbers:
3,539: New listings in the greater Charlottesville area in the first half of 2019.
2,382: Contracts written in the greater Charlottesville area in the first half of 2019.
17%: Newly- constructed homes sold in the greater Charlottesville area in
the first half of 2019.
Whether you’re a buyer or seller, you must understand what these figures mean. Knowing these Key Performance Indicators can give you a clearer picture of where you want to position your offer (for the buyer) or listing price (for the seller).
If you need help interpreting the 2019 Charlottesville Real Estate Mid-Year Market Report, don’t hesitate to talk to us. New Again Houses® will help you make knowledgeable decisions to achieve your real estate goals. Send us a quick message here, and we will get back on you shortly.