2019 1st Quarter Charlottesville VA Area Real Estate Market Report
Homebuyers and Sellers should read the following information which tells how our local real estate market is faring. The 2019 1st Quarter Charlottesville VA Real Estate Market Report also gives links to more in-depth analyses. The Charlottesville Area Association of Realtors, or CAAR, is the provider of these reports.
2019 First Quarter | WWW.CAAR.COM
The Charlottesville area real estate market overall continues to be healthy.
CLICK HERE for a full accounting of first quarter sales in the Charlottesville, Virginia region.
According to the Charlottesville Area Association of Realtors…
CAAR Home Sales Report 1st Quarter 2019 Charlottesville Area Association of REALTORS®
Market Report Key Takeaways
– Notwithstanding a modest employment decline in the most recent months of data, the Charlottesville regional economy is stable and provides a steady bedrock for the local housing market, though there may be early signs of softening demand.
– Mortgage interest rates remain at historically low levels. Potential homebuyers and sellers should expect rates to remain low, at least through the spring and into the summer.
Housing Market Conditions
– Sales declined or remained flat in most jurisdictions in the CAAR footprint in the 1stquarter comparedt o last year.The moderating sales activity began in the 4th quarter of 2018 after several years of growth at the region-level.
– The regional inventory of active listings is not shrinking at the same rate as the past few years and has remained flat for several quarters,which could reflect a stabilization of the supply in the coming months.Similar trends are occurring in other housing markets in the state.
– Homes are taking slightly longer to sell relative to last year in many parts of the CAAR footprint.
If you are considering purchasing or selling a home in the Charlottesville area, rely on me to help you put the pieces together. Virginia Gardner, Roy Wheeler Realty Co., (434) 981-0871 – Email Virginia