Charlottesville Real Estate – CAAR 2018 Third Quarter Market Report

Charlottesville Real Estate – CAAR 2018 Third 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, 2018 3rd 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 2018 Third-Quarter Highlights:

  • Home sales climbed 4.4% (1,051) compared to Q3 2017 (1,007), led by an increase (16.5%) in attached homes.
  • Greater Charlottesville median sales price rose to $309,000 (5.1%) compared to this time last year ($294,007).
  • The median days on the market in the 3rd Quarter was 56, 6-days lower than in Q3 2017.
  • New listings increased 2.5% (1,167) compared to Q3 2017 (1,138), as pending sales dipped slightly by 0.4% (896) compared to this time last year (900).
  • Inventory of homes for sale declined -9.3%, resulting in 3.9 months supply of inventory compared to 4.3 months supply in Q3 2017.

(SEE FULL DETAILS BELOW)

Charlottesville 2018 3rd Quarter Market Report by Charles McDonald on Scribd

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