$10,000 Closing Credit*
$874,900
2,768 SqFt
4 Beds
•2 Full Baths, 1 Partial
ANTHONY MCGHEE, Listing Office: ASSIST2SELL - FIRST RATE REALTY, INC.
Is Charlottesville, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 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
$532,120
$250/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$42,200(+8.6%)
Key Takeaway
Homes in Charlottesville have sold for 8.6% more than they did a year ago.
Summary: The median home sold price in Charlottesville was $532,120 in October 2024, up 8.6% from last year, and the median price per square foot was $250.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $242.5K | $260K | +7.2% |
| 2 Bedrooms | $322.5K | $345K | +7.0% |
| 3 Bedrooms | $428.7K | $455K | +6.1% |
| 4 Bedrooms | $575.4K | $643K | +11.7% |
| 5+ Bedrooms | $860K | $885K | +2.9% |
Summary: Charlottesville housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 7.2%, 2 bedroom homes increased by 7%, 3 bedroom homes increased by 6.1%, 4 bedroom homes increased by 11.7%, and 5+ bedroom homes increased by 2.9%.
Median Sold Price Compared To Nearby Cities
| Rivanna | $491.2K | $554.8K | +12.9% |
| Charlottesville | $489.9K | $532.1K | +8.6% |
| Charlottesville | $490.3K | $532K | +8.5% |
| Rio | $475K | $472.3K | -0.6% |
| Jack Jouett | $440K | $396.4K | -9.9% |
Housing Supply in Charlottesville, VA
How many homes are available in Charlottesville, VA?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 431 | 451 | +4.6% |
Summary: The Charlottesville real estate market had 451 homes for sale in October 2024, a 4.6% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 10 | 8 | -20.0% |
| 2 Bedrooms | 58 | 47 | -19.0% |
| 3 Bedrooms | 187 | 207 | +10.7% |
| 4 Bedrooms | 121 | 125 | +3.3% |
| 5+ Bedrooms | 55 | 64 | +16.4% |
Summary: The Charlottesville housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 20%, 2 bedroom homes decreased by 19%, 3 bedroom homes increased by 10.7%, 4 bedroom homes increased by 3.3%, and 5+ bedroom homes increased by 16.4%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 86 | 107 | +24.4% |
Asking Price vs. Sold Price
40 Homes Were Sold
Under Asking
33 Homes Were Sold
At Asking
32 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Charlottesville, you may be able to get a good deal. 38.1% of homes here sold below asking price last month.
Summary: A total of 107 homes were sold or pending in Charlottesville in October 2024, up by 24.4% month-over-month. Of the 105 sold homes, 38% were sold under asking, 31% were sold at asking, and 30% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 16 Days | 25 Days | +50.3% |
Summary: Homes in Charlottesville had an average of 25 days on market in Oct 2024, up by 50.3% compared to last year.
Breakdown of Home Sale Times
72 Homes Were Sold
Under 30 Days
25 Homes Were Sold
In 30 - 90 Days
10 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Charlottesville are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 107 homes were sold in Charlottesville; 67% of homes were sold within 30 days, 23% of homes were sold within 30 to 90 days, and 9% of homes were sold over 90 days.
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 REIN, Inc - All Rights Reserved. Information Deemed Reliable But Not Guaranteed. 
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