Is Charlottesville, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Charlottesville has remained a Seller's 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
$510,363
$245/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Charlottesville have sold for 13.4% more than they did a year ago.
Summary: The median home sold price in Charlottesville was $510,363 in April 2024, up 13.4% from last year, and the median price per square foot was $245.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $280K | $265K | -5.4% |
| 2 Bedrooms | $315K | $325K | +3.2% |
| 3 Bedrooms | $425K | $433.6K | +2.0% |
| 4 Bedrooms | $545.5K | $602.1K | +10.4% |
| 5+ Bedrooms | $1.0M | $848K | -16.3% |
Summary: Charlottesville housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 5.4%, 2 bedroom homes increased by 3.2%, 3 bedroom homes increased by 2%, 4 bedroom homes increased by 10.4%, and 5+ bedroom homes decreased by 16.3%.
Median Sold Price Compared To Nearby Cities
| Charlottesville | $450K | $510.3K | +13.4% |
| Rivanna | $479.5K | $541K | +12.8% |
Housing Supply in Charlottesville, VA
How many homes are available in Charlottesville, VA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 431 | 455 | +5.6% |
Summary: The Charlottesville real estate market had 455 homes for sale in April 2024, a 5.6% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 13 | 19 | +46.2% |
| 2 Bedrooms | 50 | 60 | +20.0% |
| 3 Bedrooms | 186 | 193 | +3.8% |
| 4 Bedrooms | 126 | 128 | +1.6% |
| 5+ Bedrooms | 56 | 55 | -1.8% |
Summary: The Charlottesville housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 46.2%, 2 bedroom homes increased by 20%, 3 bedroom homes increased by 3.8%, 4 bedroom homes increased by 1.6%, and 5+ bedroom homes decreased by 1.8%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 106 | 121 | +14.2% |
Asking Price vs. Sold Price
27 Homes Were Sold
Under Asking
25 Homes Were Sold
At Asking
68 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Charlottesville, you could pay more than the asking price. 56.7% of homes here sold above asking price last month.
Summary: A total of 121 homes were sold or pending in Charlottesville in April 2024, up by 14.2% month-over-month. Of the 120 sold homes, 23% were sold under asking, 21% were sold at asking, and 57% 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
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 21 Days | 17 Days | -19.3% |
Summary: Homes in Charlottesville had an average of 17 days on market in Apr 2024, down by 19.3% compared to last year.
Breakdown of Home Sale Times
109 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
6 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 April 2024, 121 homes were sold in Charlottesville; 90% of homes were sold within 30 days, 4% of homes were sold within 30 to 90 days, and 5% 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. 
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
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