2019 2nd Quarter Charlottesville VA Area Real Estate Market Report

2019 2nd 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 2nd 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 Second Quarter  | WWW.CAAR.COM

The Charlottesville area real estate market overall continues to be healthy. 
CLICK HERE for a full accounting of second quarter sales in the Charlottesville, Virginia region.

According to the Charlottesville Area Association of Realtors…

CAAR Home Sales Report 2nd Quarter 2019 Charlottesville Area Association of REALTORS®
Market Report Key Takeaways

Economic Conditions 


        – Job growth has slowed in the Charlottesville area; however, the region’s Educational Services sector      continues to boom. An extremely low unemployment rate suggests that local businesses are having a hard time finding qualified workers in the region. 

 

– New residential construction activity remains steady with little evidence of acceleration to meet pent-up demand.
– Interest rates are even lower now than they were at the beginning of the year, and there is no indication of significant increases in the months to come.

Housing Market Conditions

– Sales activity continues to be down slightly from last year in the overall CAAR region, and remained essentially flat in Albemarle County.


– After declining at the start of the year, the median sales price trended up in the 2nd quarter, rising $13,650 compared to a year ago. The fastest price growth is occurring in the City of Charlottesville, with prices up nearly $27,000 from this time last year.

– Homes continue to stay on the market longer on average. The average days on market in the 2ndquarter rose 3 days from last year to 54 days.

CLICK HERE for a full accounting of second quarter sales in the Charlottesville, Virginia region.

Find Homes for Sale in all of the Charlottesville area…always current!

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) 981-0871Email Virginia