The Long & Foster Market Minute

Focus On: Greater Charlottesville Housing Market June 2021

Zip Code(s): 22902, 22903, 22901 and 22911
Units Sold
Active Inventory
Median Sale Price
Days On Market
Up 20%
Vs. Year Ago
Down -46%
Vs. Year Ago
Up 12%
Vs. Year Ago
Down -36%
Vs. Year Ago

Units Sold
There was an increase in total units sold in June, with 249 sold this month in Greater Charlottesville Real Estate versus 208 last month, an increase of 20%. This month's total units sold was higher than at this time last year, an increase of 20% versus June 2020.

Active Inventory
Versus last year, the total number of homes available this month is lower by 151 units or 46%. The total number of active inventory this June was 174 compared to 325 in June 2020. This month's total of 174 is lower than the previous month's total supply of available inventory of 187, a decrease of 7%.

Median Sale Price
Last June, the median sale price for Greater Charlottesville Homes was $365,000. This June, the median sale price was approximately the same at $410,000. The current median sold price is 12% higher than in June 2020.

Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.

New Listings
Current Contracts
Sold Vs. List Price
Months of Supply
Up 24%
Vs. Year Ago
Up 23%
Vs. Year Ago
Up 3.5%
Vs. Year Ago
Down -55%
Vs. Year Ago

Months of Supply
In June, there was 0.7 months of supply available in Greater Charlottesville, compared to 1.6 in June 2020. That is a decrease of 55% versus a year ago.

Months of supply is calculated by dividing current inventory by current sales. It indicates how many months would be needed to sell all of the inventory available at the current rate of demand.

New Listings & Current Contracts
This month there were 220 homes newly listed for sale in Greater Charlottesville compared to 178 in June 2020, an increase of 24%. There were 211 current contracts pending sale this June compared to 172 a year ago. The number of current contracts is 23% higher than last June.

Sale Price to List Price Ratio
In June, the average sale price in Greater Charlottesville was 101.6% of the average list price, which is 3.4% higher than at this time last year.

Days on Market
This month, the average number of days on market was 25, lower than the average last year, which was 39, a decrease of 36%.

The Long & Foster Market Minute Greater Charlottesville are defined as properties listed in zip code/s 22902, 22903, 22901 and 22911.
*Detached, Attached, and Condo varies by local area Multiple Listing Service (MLS) definition. For more information regarding your specific market, contact one of Long & Foster's knowledgeable and experienced sales associates.
REALTOR, Equal Opportunity HousingInformation included in this report is based on data supplied by CGAHR and its member Association(s) of REALTORS, who are not responsible for its accuracy. Does not reflect all activity in the marketplace. Information contained in this report is deemed reliable but not guaranteed, should be independently verified, and does not constitute an opinion of CGAHR or Long & Foster Real Estate, Inc.