Is Charlottesville, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Last month, Charlottesville was a Neutral 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
$542,000
$274/sqft
Based on all homes sold in March 2024.
Difference Since Last Month
Key Takeaway
Homes in Charlottesville have sold for 19.4% more than they did a month ago.
Summary: The median home sold price in Charlottesville was $542,000 in March 2024, up 19.4% from last month, and the median price per square foot was $274.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $225K | $325K | +44.4% |
| 2 Bedrooms | $325K | $301K | -7.4% |
| 3 Bedrooms | $371.5K | $435K | +17.1% |
| 4 Bedrooms | $565K | $710K | +25.7% |
| 5+ Bedrooms | $880K | $858.8K | -2.4% |
Summary: Charlottesville housing prices by bedroom type for March 2024 compared to the previous month: The home price of 1 bedroom homes increased by 44.4%, 2 bedroom homes decreased by 7.4%, 3 bedroom homes increased by 17.1%, 4 bedroom homes increased by 25.7%, and 5+ bedroom homes decreased by 2.4%.
Median Sold Price Compared To Nearby Cities
| Jack Jouett | $340K | $514.2K | +51.3% |
| Charlottesville | $453.7K | $542K | +19.4% |
| Rio | $418K | $485K | +16.0% |
| Samuel Miller | $845.1K | $695K | -17.8% |
Housing Supply in Charlottesville, VA
How many homes are available in Charlottesville, VA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 517 | 596 | +15.3% |
Summary: The Charlottesville real estate market had 596 homes for sale in March 2024, a 15.3% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 18 | 19 | +5.6% |
| 2 Bedrooms | 52 | 61 | +17.3% |
| 3 Bedrooms | 204 | 249 | +22.1% |
| 4 Bedrooms | 169 | 187 | +10.7% |
| 5+ Bedrooms | 74 | 80 | +8.1% |
Summary: The Charlottesville housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 5.6%, 2 bedroom homes increased by 17.3%, 3 bedroom homes increased by 22.1%, 4 bedroom homes increased by 10.7%, and 5+ bedroom homes increased by 8.1%.
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
Key Takeaway
If you're buying a home in Charlottesville, you could pay more than the asking price. 42.4% of homes here sold above asking price last month.
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
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 35 Days | 37 Days | +7.2% |
Summary: Homes in Charlottesville had an average of 37 days on market in Mar 2024, up by 7.2% compared to last month.
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
Key Takeaway
Many homes in Charlottesville are selling fast, if you're buying plan to act quickly.
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.
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