September 2025 Charlottesville Real Estate Market Commentary

There are infinite micro-markets within the Charlottesville – Albemarle region.

Just recently, I’ve been in bidding wars and I’ve successfully ratified contracts after weeks — weeks! — of negotiations.

Anyone who says, “The market is doing X” is either not listening, understanding or is misleading.

The percentage of homes under contract in 30 days or less is a huge shift in the Charlottesville and Albemarle markets.

Gone are the days of sellers being able to pick and choose their prices or their offers.

Concurrently, the days of buyers not having options are gone as well.

I’ve been living and writing about this shift for many months.

Inventory continues to creep up, nearing pre-Covid levels
New construction contracts are down a bit, year over year
More sellers are choosing to de-list their properties in hopes that the spring market will be better/stronger. Time will tell if this is the right choice.
Buyers can (usually) do home inspections
Cash is still a thing.
- From 1 January to 9 September 2025, 836 single family homes sold in Charlottesville + Albemarle (excluding the ones sold off-MLS and input later). 34.45% were marked in the MLS as being cash transactions.
- From 1 January to 31 December 2024, 1165 sold (same criteria/caveats as above) – 34.59% were cash.
- And dammit, I got curious.
  - 2020: 1682 sold. 21% were cash.
  - 2015: 1470 sold. 20.47% were cash
  - More curious about 1,326 sold – attached + detached – 2025 transactions so far:
  - Of the 200 that sold for $1 million or more, 111, or 55.55%, sold with cash
  - Of the 556 that have sold between $500K and $1M, 182, of 32.73% sold with cash.

Question: How is the market?

Answer: It depends.

Not inclusive, but snapshots —

Posting these numbers for context, and an example of how “the market” is a deceivingly broad descriptor.

Albemarle County

Detached
- Median sold price for resale homes – $620K
- Median sold price for new homes – $966K
Attached
- Median sold price for resale homes – $414K
- Median sold price for new homes – $473K

Query: when will new homes come more in line with resale pricing?

City of Charlottesville

Detached
- Median sold price for resale homes – $542K
- Median sold price for new homes – 0, because there were none
Attached
- Median sold price for resale homes – $510K
- Median sold price for new homes – 0, because there were none