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.
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
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
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
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.