Charlottesville Real Estate – CAAR 2018 First 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, 2018 1st 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 2018 First-Quarter Highlights:
• Home sales climbed 13.7% (691) compared to Q1 2017 (608), led by an increase (28.3%) in attached homes.
• Greater Charlottesville median sales price rose to $309,145 (13.8%) compared to this time last year ($271,629).
• The median days on the market in the 1st Quarter was 70, 11-days lower than in Q1 2017.
• Pending sales increased 8.8% (1,134) compared to this time last year (1,042), as new listings declined slightly (1.7%).
• Inventory of homes for sale declined -13.9%, resulting in 3.5 months supply of inventory compared to 4.3 months supply in Q1 2017
(SEE FULL DETAILS BELOW)