All told, the Charlottesville – Albemarle real estate market is doing fairly well. Closed transactions, 3rd Quarter to 3rd Quarter, are mostly flat. Download the report here.
- Quality inventory remains consistently lower than we’d like to see
- Median sales prices are mostly flat (no big swings up or down, which is a good sign)
- Contracts written in the City are up 9% while contracts written in the County are up 2% – a reasonably good sign for the 4th Quarter of 2015.
- Days on Market – broadly – are flat to down a bit, but keep in mind that days on market, while not as easily gamed as they used to be, still require deeper digging in order to verify with confidence.
And I know I sound like a broken record but … the Charlottesville area market is very, very hyperlocal. The Charlottesville City market is vastly different than the Nelson County market. The Albemarle single family market is way different than the Albemarle County townhouse market. Your market will vary; if you have questions about your market segment, ask questions. Ask me if you’re so inclined.