Charlottesville Real Estate – CAAR 2016 Second Quarter Market Report
Our Charlottesville Area Association of Realtors has just released the latest real estate market report showing stats for sales in our area, 2016 2nd Quarter.
This report comes out Quarterly and gives us a good idea of the current Real Estate Market in the greater Charlottesville Area.
The specifics are pulled from our local MLS and you have likely been advised by your agent of specific trends in your area.
Remember to discuss specific market conditions with your Realtor.
Charlottesville Area 2016 Second-Quarter Highlights:
- The 1,124 homes sold in the 2nd Quarter in Greater Charlottesville marked a 17.2% increase from last year, the highest quarterly total since 2006.
- Prices gained 4.7% from last year as the median sales price reached $295,400.
- The median DOM in the 2nd Quarter was only 25 days, eight-days lower than the Q2 15 level.
- Despite a 6.6% increase in new listing activity during the quarter, inventory remains 10.8% lower than last year due to the gains seen in purchase activity.
- The 1,836 active listings at quarter’s end represent 7.3 months of supply, down from 9.4 months at mid-year 2015.
(SEE FULL DETAILS BELOW)