Focus On: Greater Charlottesville Housing Market
June 2017
Zip Code(s): 22902, 22903, 22901 and 22911
Units Sold
Active Inventory
Median Sale Price
Days On Market
252
465
$346,833
37
300
700
250
600
200
500
150
400
100
300
50
200
360,000
110
100
90
80
70
60
50
40
30
20
340,000
320,000
300,000
280,000
260,000
240,000
220,000
200,000
J-15 O-15 F-16
J-15 O-15 F-16 J-16 O-16 F-17 J-17
Down -11%
Vs. Year Ago
J-16 O-16 F-17
J-17
J-15 O-15 F-16 J-16 O-16 F-17 J-17
Down -14%
Vs. Year Ago
J-15 O-15 F-16 J-16 O-16 F-17 J-17
Up 10%
Vs. Year Ago
Down -37%
Vs. Year Ago
Units Sold*
200
Sold Detached
Sold Attached
Sold Condo/ Coop
180
Units Sold
There was an increase in total units sold in June, with 252
sold this month in Greater Charlottesville versus 215 last
month, an increase of 17%. This month's total units sold was
lower than at this time last year, a decrease of 11% versus
June 2016.
160
140
120
100
80
60
40
20
Active Inventory*
0
700
Active Detached
Active Attached
Active Condo/ Coop
600
500
Active Inventory
Versus last year, the total number of homes available this
month is lower by 73 units or 14%. The total number of
active inventory this June was 465 compared to 538 in June
2016. This month's total of 465 is lower than the previous
month's total supply of available inventory of 486, a
decrease of 4%.
Median Sale Price
400,000
300,000
200,000
100,000
0
Jun-16
$315,500
Jun-17
$346,833
400
300
200
100
0
Median Sale Price
Last June, the median sale price for Greater Charlottesville
Homes was $315,500. This June, the median sale price was
$346,833, an increase of 10% or $31,333 compared to last
year. The current median sold price is 10% higher than in
May.
Median sale price is the middle sale price in a given month. The same
number of properties are above & below the median.
Greater Charlottesville are defined as properties listed in zip code/s 22902, 22903, 22901 and 22911.
*Detached, Attached, and Condo varies by local area Multiple Listing Service (MLS) definition. For more information regarding your specific market, contact one of Long & Foster’s
knowledgeable and experienced sales associates.
Information included in this report is based on data supplied by CAARMLS and its member Association(s) of REALTORS, who are not responsible for its accuracy.
Does not reflect all activity in the marketplace. Information contained in this report is deemed reliable but not guaranteed, should be independently verified, and
does not constitute an opinion of CAARMLS or Long & Foster Real Estate, Inc.
Focus On: Greater Charlottesville Housing Market
June 2017
Zip Code(s): 22902, 22903, 22901 and 22911
New Listings
Current Contracts
Sold Vs. List Price
Months of Supply
203
173
98.8%
1.9
310
410
360
260
310
100.0%
7.0
99.0%
6.0
98.0%
5.0
260
210
97.0%
4.0
210
160
96.0%
3.0
95.0%
2.0
94.0%
1.0
160
110
110
60
60
J-15 O-15 F-16
J-15 O-15 F-16 J-16 O-16 F-17 J-17
Up 13%
Vs. Year Ago
J-16 O-16 F-17
J-17
Up 1.7%
Vs. Year Ago
No Change
Vs. Year Ago
In June, there was 1.8 months of supply available in Greater
Charlottesville. The amount of supply is similar compared to
a year ago.
2.3
1.9
2
3.3
4.6
4.6
2.6
2.9
3.4
3.7
3.5
2.4
3.2
2.8
1.9
2.3
3
3.1
4
4.1
4.2
3.9
5
J-15 O-15 F-16 J-16 O-16 F-17 J-17
Months of Supply
5.6
5.9
4.6
5.2
5.3
5.9
6
J-15 O-15 F-16 J-16 O-16 F-17 J-17
Up 14%
Vs. Year Ago
Months Of Supply
7
0.0
93.0%
Months of supply is calculated by dividing current inventory by current sales.
It indicates how many months would be needed to sell all of the inventory
available at the current rate of demand.
1
0
New Listings & Current Contracts
400
Number of New Listings
Total Pending
350
New Listings & Current Contracts
This month there were 203 homes newly listed for sale in
Greater Charlottesville compared to 179 in June 2016, an
increase of 13%. There were 173 current contracts pending
sale this June compared to 152 a year ago. The number of
current contracts is 14% higher than last June.
300
250
200
150
100
50
0
Sale Price/ List Price & DOM
100%
99%
98%
97%
96%
95%
Avg Sale / Avg List
Average DOM
120
100
80
60
40
94%
20
93%
0
Sale Price to List Price Ratio
In June, the average sale price in Greater Charlottesville was
98.8% of the average list price, which is 1.6% higher than at
this time last year.
Days On Market
This month, the average number of days on market was 37,
lower than the average last year, which was 59, a decrease of
37%.
Greater Charlottesville are defined as properties listed in zip code/s 22902, 22903, 22901 and 22911.
*Detached, Attached, and Condo varies by local area Multiple Listing Service (MLS) definition. For more information regarding your specific market, contact one of Long & Foster’s
knowledgeable and experienced sales associates.
Information included in this report is based on data supplied by CAARMLS and its member Association(s) of REALTORS, who are not responsible for its accuracy.
Does not reflect all activity in the marketplace. Information contained in this report is deemed reliable but not guaranteed, should be independently verified, and
does not constitute an opinion of CAARMLS or Long & Foster Real Estate, Inc.