CAAR Year-End 2014 Report: What's in Store for Charlottesville, VA Real Estate
The Charlottesville Area Association of Realtors (CAAR) has released its 2014 Year-End Market Report, which shows annual home sales in Greater Charlottesville were up 2.0% over 2013. This is the third consecutive year that home sales have went up!
In fact, the median sales price for 2014 was at its highest since 2007, 1.9% higher than 2013. Charlottesville, Virginia real estate prices were 6.6% lower than $289,000, which was the peak hit in 2007.
Also telling is that half of the homes sold in 2014 were only on the market 52 days or less, which is the lowest median number of days since 2006. Charlottesville homes sold the fasted in 2014, with half selling in 35 days or less. Albemarle followed with a media 43 days on the market.
With 2,976 sales and an average sales price of $341,582, the total
sold dollar volume for the region topped the billion dollar mark – the first time since 2007!
Green and Fluvanna saw the most significant gains in sales compared to the previous year, with the former up 12.6% and the latter up 11.8%. Charlottesville and Albemarle also saw slight gains.
If you are in the market for Charlottesville, Virginia real estate, don’t wait. With sales prices on the rise, now may be the best time to find your way to your Charlottesville dream home.