Charlottesville Real Estate – CAAR 2017 First Quarter Market Report
Our Charlottesville Area Association of Realtors has just released the latest real estate market report showing stats for sales in our area, 2017 1st Quarter.
This report comes out Quarterly and gives us a good idea of the current Real Estate Market in the greater Charlottesville Area.
The specifics are pulled from our local MLS and you have likely been advised by your agent of specific trends in your area.
Remember to discuss specific market conditions with your Charlottesville Realtor.
Charlottesville Area 2017 First-Quarter Highlights:
• Home sales climbed 3.5% (595) over Q1 2016 (575), led by an increase of 6.8% in attached home sales.
• Greater Charlottesville median sales price rose to $270,000 (8.0%) compared to this time last year ($250,000).
• The median days on the market in the 1st Quarter was 28, 32-days lower than in Q1 2016.
• New listings improved 4.2% (1,712) compared to this time last year (1,643), while the inventory of homes for sale marked a 15.8% decline.
• Pending sales was 14.1% (1,060) higher compared to Q1 2016 (929), driven by a high demand in detached homes (16.5%).
(SEE FULL DETAILS BELOW)