Charlottesville Real Estate – CAAR 2016 Fourth 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 4th 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 Charlottesville Realtor.
Charlottesville Area 2016 Fourth-Quarter Highlights:
- Home sales rose 12.7% over Q4 2015, led by a significant increase of 34.0% in attached home sales.
- Greater Charlottesville median sales price increased slightly to $268,000 (1.1%) compared to this time last year ($265,000).
- The median days on the market in the 4th Quarter was 31, 19-days lower than in Q4 2015.
- New listings dipped 1.3% (815) compared to 2015 year-end (826), while inventory of homes for sale marked a 14.6% decline.
- Pending sales climbed 11.4% compared to Q4 2015, driven by a high demand in attached homes (36.9%).
(SEE FULL DETAILS BELOW)