Charlottesville Metro Area Real Estate Market Continues Downward Trend in Contracts

Sales remained steady from last week to this week, with eight homes sold in the Charlottesville Metro Area market over the last 30 days. However, an identifiable downturn in the number of pending transactions continued, with two completed in the same period. Potential buyers should note that prices are coming down in the Charlottesville Metro Area, and for this period the median sales price slid from $256,500 to $231,500. The Charlottesville Metro Area is a definite buyer's market, due to a downward trend in contracts numbers and 14 months of inventory remaining.

Early bird gets the worm, so be sure to take a look at these new listings in the Charlottesville Metro Area:

$450K   $1.5M   $315K  

Demographic facts for the Charlottesville Metro Area:

  • The affordability rating here is 36. (Scale: 1 = Worst, 100 = Best)
  • The average precipitation is 45.2 inches per year. (U.S. average: 36.5)
  • The area's income per capita is $32,380.
  • The school rating in this area is 65. (Scale: 1 = Worst, 100 = Best)

Data reported through 10/12/2016

Comments:

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Long & Foster-Glenmore
Snapped 28 homes in this area

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