When Do Homes Come on the Market in Charlottesville and Albemarle? (2023)

It’s been a challenging year(s) for buyers in the Charlottesville area. While it’s been this way for years, the past three years have been exceptionally hard.

– Low inventory

– High prices

– Higher interest rates than a generation of buyers have seen

– 42% of American homeowners don’t have mortgages

– The baby chasers.

Questions? Ask me. 434-242-7140 or [email protected]

Right now in Charlottesville + Albemarle

• 1,193 homes have been listed in the MLS since 1 January 2023
  • 285 of those are marked as new construction. (Searching for detached, attached, condo)
• Changing the search, and looking at # of active listings, with no housing type specified, so I’m including proposed listings
  • 324 active listings; 139 (43%) are listed as new construction
  • 542 homes are pending; 250 (46%) are new construction.

• Solds
  • 862 homes have sold so far*
  • Average sold price: $593,570
  • Median sold price: $475,000

* Right now: Sunday, 4 June,  around 7pmWhat is the Charlottesville real estate market doing right now?

The best answer is the one I’ve said for most of my career – I’ll tell you in 18 months what happens tomorrow, combined with “I don’t know, but I’m trying to figure this out.” No one knows with certainty, but I think I have a reasonably educated and experienced prognostication.

Can you guess in what year I wrote this?

Every January starts with the predictive question – what’s the market going to do this year? And every year I say, I don’t know, but I’ll let you know in 18 months what the market does today.

Low inventory, low interest rates, and buyers wanting to buy …

2014. And many more times.

How many homes will come on the market that will fit you?

In 2017, I wrote a story laying out an answer to this question for Charlottesville, and for Albemarle. The logic and rationale remains the same, but the numbers have changed.

So have prices.

New listings in Charlottesville + Albemarle

* single family + attached, resale, Charlottesville + Albemarle, excluding new construction

** Data pulled around 7pm 6/2/2023

What Questions do you Have?