That was an outstanding Reddit Charlottesville Real Estate AMA.

Already looking forward to the January AMA.

Have a question? Ask me there, or here.

Happy Monday. The Charlottesville real estate market is changing. Is it crashing? Nope. Are we seeing price drops? Yep.

Most importantly — what questions do you have?

• Buyers who are patient now have options – for the first time in many years.
• Sellers whose expectations were to make X after owning for 5 years … may be seeing a more traditional return to where I’ve almost always tried to set expectations — if you buy and sell in 4 or 5 years and break even, you’ve done well.

Charlottesville’s summer market shifted since I did the last AMA in July. More contracts and listings than last year, fewer homes go under contract in 10 days or less, and days on market are rising.

• The percentage of homes going under contract in 10 days or less is down. The days on market of both attached and detached homes are up as well.
• In Albemarle, new listings, contracts, and days on market are are up, and the percentage of new listings going under contract in 10 days or less is down — 49% last year and 38% this year.
• In the City of Charlottesville, same story, different numbers.
• Charlottesville Zoning fiasco has changed that segment of the market. Best example – 303 Alderman. Single family home sold for $825K last year, developer proposed six townhouses (thanks, Charlottesville Community Engagement) and now it’s back on the market as a”canvas is ready for you to make it your own” (*side note, I remember that phrase from a listing in Starr Hill nearly 20 years ago)

What questions do you have?

—

When I talk with my buyer clients, we are talking about shelter – a place to live, taking agency over your life (as best you can) and locking in your housing expenses, and providing a stable shelter and home for yourself, your family – kids/parents – and your pets.

When I talk with my seller clients, we are talking about how best to maximize their return, and that means doing more work than many if not most sellers have had to do in over a decade.

I wrote recently about the market, and briefly:

— A few numbers I’ve been writing on bluesky

Median price of sold single family new construction home in 2025:

– Albemarle: $944,625
– Waynesboro: $367,485
– Augusta: $452,437
– Greene: $454,563
– Louisa: $452,113
– Fluvanna: $402,578

The Albemarle County numbers are eye-popping, and I don’t see a solution other than a radical reimagining how we build and develop – more density, fewer cars, more mixed-use development. And that’s generational thinking, something Americans don’t do well.

———

For anyone coming into our market cold, please rent first. Our rental market is hard (and always has been), but buying and selling in two years after you realize you bought in the wrong location for you is harder, much more expensive, and in an environment with stable to possibly moderating housing prices, possibly impossible.

——

• July 2025 AMA
• May 2025 AMA
• March 2025 AMA
• December 2024 AMA
• July 2024 AMA
• April 2024 AMA
• January 2024 AMA

—

For legal compliance/disclosure, I am a Partner and realtor with Nest. I’m doing the AMA to help people understand the market, and selfishly, I get better at what I do when y’all ask good questions. 🙂 All data is pulled from Charlottesville MLS.