Is Charlottesville, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Charlottesville has remained a Seller's Market.
Housing Prices in Charlottesville, VA
How much do homes in Charlottesville, VA cost?
Median Sold Price
$512,035
$246/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Charlottesville was $512,035 in May 2024, up 9.6% from last year, and the median price per square foot was $246.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $290K | $234.5K | -19.1% |
2 Bedrooms | $325K | $325K | 0.0% |
3 Bedrooms | $425K | $440K | +3.5% |
4 Bedrooms | $550K | $611.3K | +11.2% |
5+ Bedrooms | $850K | $859.5K | +1.1% |
Summary: Charlottesville housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 19.1%, 2 bedroom homes did not change, 3 bedroom homes increased by 3.5%, 4 bedroom homes increased by 11.2%, and 5+ bedroom homes increased by 1.1%.
Median Sold Price Compared To Nearby Cities
Rivanna | $485K | $540.3K | +11.4% |
Charlottesville | $467K | $512K | +9.6% |
Rio | $450.5K | $452.3K | 0.4% |
Jack Jouett | $500K | $415K | -17.0% |
Housing Supply in Charlottesville, VA
How many homes are available in Charlottesville, VA?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
526 | 537 | +2.1% |
Summary: The Charlottesville real estate market had 537 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 | 221 | 255 | +15.4% |
4 Bedrooms | 150 | 148 | -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 15.4%, 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 | 163 | +27.3% |
Asking Price vs. Sold Price
50 Homes Were Sold
Under Asking
39 Homes Were Sold
At Asking
71 Homes Were Sold
Over Asking
Summary: A total of 163 homes were sold or pending in Charlottesville in May 2024, up by 27.3% month-over-month. Of the 160 sold homes, 31% were sold under asking, 24% 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
May 2023 | May 2024 | CHANGE |
---|---|---|
13 Days | 11 Days | -13.5% |
Summary: Homes in Charlottesville had an average of 11 days on market in May 2024, down by 13.5% compared to last year.
Breakdown of Home Sale Times
146 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, 163 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.