Is Charlottesville, VA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Charlottesville is a seller's market

Buyer's
Market

Difference Since November 2023

Since last year, Charlottesville has remained a Seller's Market.

Key Takeaway

Charlottesville is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Charlottesville, VA

How much do homes in Charlottesville, VA cost?

Median Sold Price

$535,800

$252/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$45,621(+9.3%)

Key Takeaway

Homes in Charlottesville have sold for 9.3% more than they did a year ago.

Summary: The median home sold price in Charlottesville was $535,800 in November 2024, up 9.3% from last year, and the median price per square foot was $252.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $250K$260K
+4.0%
2 $325K$341.1K
+5.0%
3 $428.7K$465K
+8.5%
4 $576.4K$649.4K
+12.7%
5+ $855K$899.8K
+5.2%

Summary: Charlottesville housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 4%, 2 bedroom homes increased by 5%, 3 bedroom homes increased by 8.5%, 4 bedroom homes increased by 12.7%, and 5+ bedroom homes increased by 5.2%.

Median Sold Price Compared To Nearby Cities

Charlottesville
+9.3%
Charlottesville
+9.2%
Rivanna
+8.5%
Rio
+3.0%
Jack Jouett
-9.5%

Housing Supply in Charlottesville, VA

How many homes are available in Charlottesville, VA?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
467399-14.6%

Summary: The Charlottesville real estate market had 399 homes for sale in November 2024, a 14.6% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 109
-10.0%
2 4947
-4.1%
3 212182
-14.2%
4 134105
-21.6%
5+ 6256
-9.7%

Summary: The Charlottesville housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 10%, 2 bedroom homes decreased by 4.1%, 3 bedroom homes decreased by 14.2%, 4 bedroom homes decreased by 21.6%, and 5+ bedroom homes decreased by 9.7%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
111112+0.9%

Asking Price vs. Sold Price

52 Homes Were Sold
Under Asking

28 Homes Were Sold
At Asking

28 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Charlottesville, you may be able to get a good deal. 48.1% of homes here sold below asking price last month.

Summary: A total of 112 homes were sold or pending in Charlottesville in November 2024, up by 0.9% month-over-month. Of the 108 sold homes, 48% were sold under asking, 26% were sold at asking, and 26% 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

Nov 2023Nov 2024CHANGE
21 Days27 Days+25.3%

Summary: Homes in Charlottesville had an average of 27 days on market in Nov 2024, up by 25.3% compared to last year.

Breakdown of Home Sale Times

82 Homes Were Sold
Under 30 Days

18 Homes Were Sold
In 30 - 90 Days

12 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Charlottesville are selling fast, if you're buying plan to act quickly.

Summary: During November 2024, 112 homes were sold in Charlottesville; 73% of homes were sold within 30 days, 16% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 17 Days Ago

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MLS Disclaimers and Copyright

Based on information from BrightMLS, Charlottesville Area Association of Realtors MLS, Real Estate Information Network, and Central Virginia Regional MLS for the period 12/01/2022 - 12/01/2024

IDX Information Deemed Reliable But Not Guaranteed. The data relating to real estate for sale on this website appears in part through the BRIGHT Internet Data Exchange program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms in which participates, and is provided by BRIGHT through a licensing agreement.

The information provided by this website is for the personal, non-commercial use of consumers and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale on this website may no longer be available because they are under contract, have sold or are no longer being offered for sale. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. This home sale information is not to be construed as an appraisal and may not be used as such for any purpose.

BRIGHT MLS is the (or a) provider of this home sale information and has compiled content from various sources. Some properties represented may not have actually sold due to reporting errors. ©2024 BrightMLS. All rights reserved.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 12/17/2024, 11:20:56 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

IDX Information is provided by Charlottesville Area Association of Realtors®. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information provided is thought to be reliable but is not guaranteed to be accurate; you are advised to verify facts that are important to you. No warranties, expressed or implied, are provided for the data herein, or for their use or interpretation by the user.

Copyright © 2024 Charlottesville Area Association of Realtors®. All rights reserved.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 12/17/2024, 11:20:52 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

IDXCopyright © 2024 REIN, Inc - All Rights Reserved. Information Deemed Reliable But Not Guaranteed.

The listing data relating to real estate for sale on this web site comes in part from the Real Estate Information Network Inc. (REIN) and has been authorized by participating listing Broker Members of REIN for display. REIN's listings are based upon Data submitted by its Broker Members, and REIN therefore makes no representation or warranty regarding the accuracy of the Data. All users of REIN's listings database should confirm the accuracy of the listing information directly with the listing agent.

Real estate listings held by brokerage firms other than this broker are marked by the REIN symbol; detailed information about such listings includes the names of listing brokers.

REIN's listings Data and information is protected under federal copyright laws. Federal law prohibits, among other acts, the unauthorized copying or alteration of, or preparation of derivative works from, all or any part of copyrighted materials, including certain compilations of Data and information. COPYRIGHT VIOLATORS MAY BE SUBJECT TO SEVERE FINES AND PENALTIES UNDER FEDERAL LAW.

Users of this Site are granted a limited, nonexclusive license to use the Site and its listing content for personal and noncommercial use only. Information is deemed reliable but not guaranteed. REIN has no control over the conditions under which broker member or any of the respective agents, employees, customers, clients, contractors or representatives use the sold listings information and does not and cannot warrant, and expressly disclaims any warranty with respect to, the accuracy or completeness of the sold listings information or performance or results that may be obtained by their use. You should not base any important financial decisions on this sold listings information, without independently, verifying such information, or consulting with a professional real estate broker for assistance.

Some listings may be duplicated in the search results due to the co-mingling of listings from more than one multiple listing service. Should there be different listing information between the duplicated listings, user is advised to verify the accuracy of the listing information before making any financial decisions.

Some of these listings contain enhanced listing information including mapping from sources such as Google, Bing, Microsoft, Yahoo, WalkScore and others.

Some properties which appear for sale on this website have subsequently sold or may no longer be available. REIN updates its listings on a daily basis.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 12/17/2024, 11:20:56 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

IDX All or a portion of the multiple Listing information is provided by the Central Virginia Regional Multiple Listing Service, LLC, from a copyrighted compilation of Listings. IDX information is provided exclusively for consumers’ personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All CVR MLS information provided is deemed reliable but is not guaranteed accurate. The compilation of Listings and each individual Listing are ©2024 Central Virginia Regional Multiple Listing Service,LLC. All rights reserved
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 12/17/2024, 11:20:54 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

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