Charlottesville Market appears to be on an upswing!
Our Charlottesville Area Association of Realtors has just released the latest report showing stats for sales in our area for year ending 2012.
This report comes out Quarterly and gives us a good idea of the current Real Estate Market in the greater Charlottesville Area. Remember to discuss specific market conditions with your Realtor.
Charlottesville Area Year-End 2012 Highlights:
- Overall sales in Greater Charlottesville were up 15% over 2011, resulting in largest year-over-year increase in seven years.
- Active inventory to close 2012 was at the lowest level since year-end 2005 and down 13% from year-end 2011.
- Median sales price for the region in Q4-2012 was up 8%, over last quarter and Q4-2011, to $260,000.
- New listings were up 9% from the same quarter last year—the largest increase since Q4-2006.
Year-End 2012 Sales & Contract Activity
There were 2,643 homes sold in the Greater Charlottesville area in 2012, which was up 14.9% (+343 sales) from
2011. This was the largest year-over-year increase since 2004. In the 4th Quarter, there was a 19% jump in sales
compared to Q4-2011. The 148 attached homes sold represented a 23.3% increase over the same quarter last
year, while the number of detached homes spiked 17.7% over Q4-2011.
Charlottesville Real Estate 2012 Year End Market Report by Charles McDonald