Charlottesville Real Estate By the Numbers
When it comes to buying property this year, much is happening in the Greater Charlottesville area. As we look at the first numbers from 2013, it appears that sales are up and prices are down, making it a great time to explore the area and consider one of the exquisite properties that Virginia has to offer.
According to the Charlottesville Area Association of REALTORS 1st Quarter 2013 Market Report, overall sales in the Greater Charlotteville area were up 6.3% over last year, making it the highest 1st Quarter for sales in over 7 years. While sales are up, the report also shows that prices are down – with the average sales price dropping 1.2% from the average sales price in the 1st Quarter last year. Homes in the Charlottesville area are also selling quicker than in the previous year. 1st Quarter sales tend to take longer than in other times, due to many factors resulting from the winter months, yet in the 1st Quarter of 2013, homes sold quickest in Charlottesville, with a median of 48 days on the market, Green, with a median of 78 days, and Albemarle, with a median DOM of 81 days.
While sales are typically lower in the 1st Quarter of each year, new listings were up 10.8% when compared to the same time last year – with 1,430 new listings.
The sale of detached homes in the Greater Charlottesville area was on the rise in Q1, up 10.2% from Q1 of 2012. This differed from attached homes (i.e. condos, townhouses, etc.), which took a slight decrease in the 1st Quarter.
With three offices in Virginia, Frank Hardy can help you find your dream home in the Charlottesville area. With our focus on farm, estate and waterfront offerings, we showcase some of the area’s most sought-after properties. Take advantage of everything Virginia has to offer. There is no time like the present and we are here to help.
Link to the CAAR report