Is Charlottesville, VA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Charlottesville is a seller's market

Buyer's
Market

Difference Since Last Month

Since last month, 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

$562,750

$256/sqft

Based on all homes sold in April 2024.

Difference Since Last Month

+$17,750(+3.3%)

Key Takeaway

Homes in Charlottesville have sold for 3.3% more than they did a month ago.

Summary: The median home sold price in Charlottesville was $562,750 in April 2024, up 3.3% from last month, and the median price per square foot was $256.

Median Sold Price By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 $325K$393.5K
+21.1%
2 $285.5K$351K
+22.9%
3 $435K$511.5K
+17.6%
4 $725K$609K
-16.0%
5+ $849.8K$788.5K
-7.2%

Summary: Charlottesville housing prices by bedroom type for April 2024 compared to the previous month: The home price of 1 bedroom homes increased by 21.1%, 2 bedroom homes increased by 22.9%, 3 bedroom homes increased by 17.6%, 4 bedroom homes decreased by 16%, and 5+ bedroom homes decreased by 7.2%.

Median Sold Price Compared To Nearby Cities

Rio
+19.4%
Jack Jouett
+6.5%
Charlottesville
+3.3%
Samuel Miller
-11.5%

Housing Supply in Charlottesville, VA

How many homes are available in Charlottesville, VA?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
432456+5.6%

Summary: The Charlottesville real estate market had 456 homes for sale in April 2024, a 5.6% increase compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 1319
+46.2%
2 5060
+20.0%
3 187194
+3.7%
4 126129
+2.4%
5+ 5654
-3.6%

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 3.7%, 4 bedroom homes increased by 2.4%, and 5+ bedroom homes decreased by 3.6%.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
106121+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

Asking vs Sold - buyer

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

Mar 2024Apr 2024CHANGE
35 Days17 Days-51.4%

Summary: Homes in Charlottesville had an average of 17 days on market in Apr 2024, down by 51.4% compared to last month.

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

Breakdown of Home Sale Times

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.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 19 Days Ago

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