Monthly Market Statistics
Charlottesville Real Estate Market Snapshot: October
In years past the fall housing market has been very strong as people settle in to new homes before the holidays. This was not the case this year with October home sales. 123 homes were sold in the greater Charlottesville area in October with a median sales price of $245,000. The average days on the market for listings sold was 121 days. There were 3479 active listings during the month of October. Not the best news for the last quarter of the year. Have a question about the Charlottesville Real Estate market? Contact Todd today!
Charlottesville Home Sales up slightly in August 2010
397 Lake Drive, $368,000
More homes SOLD in August than July. 182 homes went to closing last month which is an increase from 164 homes in July. Both months were down significantly from June, which saw 331 homes close. The inventory of homes for sale is down slightly from 3,618 available in July to 3,614 last month. The median sales price for the greater Charlottesville area fell in August to$241,718. Average days on market for homes that sold remained at 126 days, which is high. Average days on market during a more balanced market average around 90. Homes that are priced to today’s market are going under contract. However, there is still a lot of inventory that has been on the market more than 6 months that is not priced to sell. With interest rates remaining low we are hoping to have a stronger end to the third quarter. If you have a specific question about our local real estate market contact me today.
Market Snapshot: July 2010
As predicted the Charlottesville Real Estate market had fewer homes sell in July than sold in the previous two months. July has typically been a slower month for activity in recent years. We had 3681 homes on the market in July, which is a high level of inventory. Only 164 homes sold last month, compared to 270 homes in June. The median price of homes that sold did go up to $277,500 from $270,000 in June. We saw a rise in the average days on market, up to 126 days. Activity in the number of showings has increased in the past week which will hopefully translate into contracts written. August has typically been a good month for sales as people want to be settled before the new school year begins.
Market Snapshot for June
Our local housing market continues to have more homes SOLD year to date over last year and the trend continued through the month of June. Our local area saw 331 homes SOLD in June, which was up from 232 homes that closed in the previous month. The median sales price also was up from $248,000 in May to $270,000 in June. Average Days on Market was down 13 days to 101 days last month. The inventory of homes was up from May with 3687 homes for sale. Showings and traffic of area listings have slowed in recent weeks, which will probably lead to fewer homes selling this month. In recent years July has been slower. In the past people return from summer travels and we see a spike in activity prior to the start of the new school year.
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