Is Charlottesville, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, Charlottesville was a Buyer's Market.
Housing Prices in Charlottesville, VA
How much do homes in Charlottesville, VA cost?
Median Sold Price
$500,181
$244/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Charlottesville was $500,181 in March 2024, up 21.3% from last year, and the median price per square foot was $244.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $165K | $280K | +69.7% |
2 Bedrooms | $300.9K | $325K | +8.0% |
3 Bedrooms | $395.7K | $429.9K | +8.6% |
4 Bedrooms | $512K | $592.5K | +15.7% |
5+ Bedrooms | $1.0M | $854.4K | -15.7% |
Summary: Charlottesville housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 69.7%, 2 bedroom homes increased by 8%, 3 bedroom homes increased by 8.6%, 4 bedroom homes increased by 15.7%, and 5+ bedroom homes decreased by 15.7%.
Median Sold Price Compared To Nearby Cities
Charlottesville | $412.5K | $500.1K | +21.3% |
Rivanna | $480K | $526.2K | +9.6% |
Housing Supply in Charlottesville, VA
How many homes are available in Charlottesville, VA?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
497 | 575 | +15.7% |
Summary: The Charlottesville real estate market had 575 homes for sale in March 2024, a 15.7% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 17 | 18 | +5.9% |
2 Bedrooms | 49 | 58 | +18.4% |
3 Bedrooms | 196 | 241 | +23.0% |
4 Bedrooms | 165 | 183 | +10.9% |
5+ Bedrooms | 70 | 75 | +7.1% |
Summary: The Charlottesville housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 5.9%, 2 bedroom homes increased by 18.4%, 3 bedroom homes increased by 23%, 4 bedroom homes increased by 10.9%, and 5+ bedroom homes increased by 7.1%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
79 | 101 | +27.8% |
Asking Price vs. Sold Price
34 Homes Were Sold
Under Asking
23 Homes Were Sold
At Asking
42 Homes Were Sold
Over Asking
Summary: A total of 101 homes were sold or pending in Charlottesville in March 2024, up by 27.8% month-over-month. Of the 99 sold homes, 34% were sold under asking, 23% were sold at asking, and 42% 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
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
23 Days | 37 Days | +61.8% |
Summary: Homes in Charlottesville had an average of 37 days on market in Mar 2024, up by 61.8% compared to last year.
Breakdown of Home Sale Times
81 Homes Were Sold
Under 30 Days
11 Homes Were Sold
In 30 - 90 Days
9 Homes Were Sold
Over 90 Days
Summary: During March 2024, 101 homes were sold in Charlottesville; 80% of homes were sold within 30 days, 11% of homes were sold within 30 to 90 days, and 9% of homes were sold over 90 days.