Greater Charlottesville 2017 Year-End Real Estate Market Report Highlights

• Home sales increased 7.5% (863) compared to Quarter 4 of 2016 (803), while year-end indicated a 4.0% gain.
• Greater Charlottesville median sales price rose to $300,000 (12%) compared to Quarter 4 of 2016 ($267,842), as year-end marked a 7.4% improvement 
• The median days on the market for Quarter 4 of 2017 remained steady at 71- days, unchanged from Q4 2016, while year-end showed a 8.5% decline (six-days fewer)
• New listings grew 13.4% (822) compared to Q4 2016 (725), as year-end marked a 2.8% increase.
• Pending sales improved 17.6% (761) compared to Q4 2016 (647), while year-end showed a 7.5% surge.
• Inventory of homes for sale declined 15.9% (939) in Q4 2017, as year-end indicated a 15.7% decrease.

Inventory of homes for sale is noticeably down in all markets, which makes it a great time to sell. If you know a friend, relative or associate who is thinking of selling their home, and would like a complimentary competitive market analysis, please email us or give us a call today (434) 390-4312!

It is still a great time to buy as well, as interest rates are still very favorable and there are several new loan programs available.  If you know of anyone interested in buying, please email us or give us a call today (434) 390-4312.

Thank you, and Happy New Year!