Charlottesville Real Estate 2012 1st Quarter Market Report

Our Charlottesville Area Association of Realtors has just released the latest report showing stats for sales in our area, 2012 1st Quarter.

This report comes out Quarterly and gives us a good idea of the current Real Estate Market in the greater Charlottesville Area. Remember to discuss specific market conditions with your Realtor.

1st Quarter 2012 Highlights:

  • Median sales price for Greater Charlottesville is down 2.7% from Q1-2011 to $230,000
  • Overall sales in the region are up 9.2% over the first quarter last year.
  • Homes sold eight days faster on average compared to Q1-2011, down to 167 days on market (DOM) from 175.
  • Top three areas for sales in Q1-2012 were Albemarle, Charlottesville and Fluvanna counties

Charlottesville Area March 2012 Highlights:

  • The 186 homes sold in March 2012 is the highest March level since 2008.
  • The 294 new contracts signed is 21.5% higher than the same period last year.
  • The median sales price of $242,250 represents a 7.8% year-over-year increase.

1st Quarter 2012 Sales & Contract Activity

There were 463 homes sold in the Charlottesville area in the first quarter, which was up 9.2% (+39 sales) from the first quarter last year. Fluvanna (+40.9%) had the largest year-over-year increase, while Greene (+18.9%), Charlottesville (+15.5%), and Albemarle (+8.1%) also showed annual gains for the quarter. Nelson (-22.2%) and Louisa (-10.0%) experienced declines from Q1-2011 levels. Q1 sales of detached homes in the area were up 11.0% from Q1-2011 to 390. There were 111 attached homes (condos and townhomes) sold, representing a 3.7% year-over-year increase.

Charlottesville 1st Quarter Real Estate Market Report 2012

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