Charlottesville VA Real Estate Market Report - March 2010

By
Real Estate Agent with Gayle Harvey Real Estate, Inc.

This Charlottesville VA real estate market report deals with the sale of single family homes in the Charlottesville city limits.

In March 2009, 17 Charlottesville homes sold.
In March 2010, 16 Charlottesville homes sold.

In March 2009, the average list price was $276,727.
In March 2010, the average list price was $333,514.

In March 2009, the average sale price was $254,137.
In March 2010, the average sale price was $314,462.

In March 2009, the median sold price was $247,000.
In March 2010, the median sold price was $324,142.

In March 2009, the average days on market was 161.
In March 2010, the average days on market was 98.

In March 2009 homes sold for an average of 91.83% of the list price.
In March 2010 homes sold for an average of 94.28% of the list price.

In 2009 from 1/1/2009-3/31/2009, 41 homes sold on the Charlottesville VA real estate market.  During the same time frame in 2010, 33 Charlottesville homes sold.  This is a decline in sales of -19.51% for the year so far.

graph of Charlottesville home sales


The first thing that jumps out when you look at the graph is how many more new listings are coming on the market as opposed to sales.  Of course some of the slow sales this winter can definately be attibuted to all of the snow.  We are hoping to see a change in these numbers with the advent of the spring market.

The good news is that we are seeing homes selling for higher prices than they were last year and with fewer days on market.  the down side is that there were fewer home sales in the city of Charlottesville as compared with 2009.  The fact that we are seeing sales in a higher price range does not mean that home values have increased, but rather what price range people are comfortable buying in. 

 

 

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