Is Charlottesville, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Since last month, Charlottesville has remained a Seller's Market.
Housing Prices in Charlottesville, VA
How much do homes in Charlottesville, VA cost?
Median Sold Price
$515,000
$257/sqft
Based on all homes sold in May 2024.
Difference Since Last Month
Summary: The median home sold price in Charlottesville was $515,000 in May 2024, down 7.4% from last month, and the median price per square foot was $257.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $393.5K | $188.5K | -52.1% |
2 Bedrooms | $338K | $356K | +5.3% |
3 Bedrooms | $510.7K | $465K | -9.0% |
4 Bedrooms | $609.5K | $652.5K | +7.1% |
5+ Bedrooms | $788.5K | $1.2M | +64.2% |
Summary: Charlottesville housing prices by bedroom type for May 2024 compared to the previous month: The home price of 1 bedroom homes decreased by 52.1%, 2 bedroom homes increased by 5.3%, 3 bedroom homes decreased by 9%, 4 bedroom homes increased by 7.1%, and 5+ bedroom homes increased by 64.2%.
Median Sold Price Compared To Nearby Cities
Samuel Miller | $620K | $1.0M | +68.1% |
Charlottesville | $556.2K | $515K | -7.4% |
Housing Supply in Charlottesville, VA
How many homes are available in Charlottesville, VA?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
528 | 539 | +2.1% |
Summary: The Charlottesville real estate market had 539 homes for sale in May 2024, a 2.1% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 21 | 18 | -14.3% |
2 Bedrooms | 68 | 60 | -11.8% |
3 Bedrooms | 222 | 256 | +15.3% |
4 Bedrooms | 151 | 149 | -1.3% |
5+ Bedrooms | 66 | 56 | -15.2% |
Summary: The Charlottesville housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 14.3%, 2 bedroom homes decreased by 11.8%, 3 bedroom homes increased by 15.3%, 4 bedroom homes decreased by 1.3%, and 5+ bedroom homes decreased by 15.2%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
128 | 164 | +28.1% |
Asking Price vs. Sold Price
50 Homes Were Sold
Under Asking
40 Homes Were Sold
At Asking
71 Homes Were Sold
Over Asking
Summary: A total of 164 homes were sold or pending in Charlottesville in May 2024, up by 28.1% month-over-month. Of the 161 sold homes, 31% were sold under asking, 25% were sold at asking, and 44% were sold over asking.
Days on Market for Charlottesville, VA
How long does it take to sell a home in Charlottesville, VA?
Average Sale Time
Apr 2024 | May 2024 | CHANGE |
---|---|---|
17 Days | 11 Days | -33.6% |
Summary: Homes in Charlottesville had an average of 11 days on market in May 2024, down by 33.6% compared to last month.
Breakdown of Home Sale Times
147 Homes Were Sold
Under 30 Days
15 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During May 2024, 164 homes were sold in Charlottesville; 90% of homes were sold within 30 days, 9% of homes were sold within 30 to 90 days, and 1% of homes were sold over 90 days.