The third quarter stats are in for our local market!

Housing Market Conditions
Sales activity inched up in the CAAR footprint this quarter. There were 990 closed sales regionwide in the third quarter of 2025, 16 more sales than the third quarter of 2024, a 2% gain.

The regionwide median sold price dipped this quarter. The third quarter median sales price in the CAAR market was $450,000, down $5,000 from a year ago, a 1% decrease.

There continue to be more listings on the market in the CAAR footprint. There were 1,128 active listings regionwide at the end of the third quarter, a 34% increase from last year.

Mortgage rates have been trending down in recent weeks. The average rate for a 30-year fixed mortgage was 6.27% in mid-October 2025. A year ago, the average interest rate was 6.44%.

New Construction: Residential permitting activity continues to outpace last year so far in 2025 Regionwide in the Charlottesville Metro Area. So far through August 1,035 residential building permits have been issued, which is a 17% increase from this time last year, or 149 more permits. Most of the growth so far this year has been driven by multifamily permits, which are up 51%, a gain of 104 permits. Single-family permits are also up, climbing 7% from a year ago, an additional 45 permits.