Questions I go into when doing client market analyses that aren’t covered in top-level analysis or commentary
- How many contracts were canceled?
- How many homes expired?
- How many homes had price reductions before contract?
A few data points
That I’m asked frequently:
How many days will it take to sell my house?
In Albemarle & Charlottesville from 1 January to 30 April last year, single family homes, not new construction, 412 contracts were written, and the median days on market was 5. About 270 of the 412 went under contract in 7 days or less, so about 66% of homes listed in that time last year went under contract quickly. This year in that timeframe, 372 homes went under contract, median days on market were 6, and about 216 went under contract in 7 days or less – about 57%. Not bad, but not as good as last year.
Is it too late to buy or sell a home in Charlottesville in 2025?
Nope. Last year, 1,253 resale homes sold in Charlottesville and Albemarle. 697 closed from 1 July to 31 December. There’s still plenty of time.
What is the list to sale price ratio?
Great question. And one that would be irresponsible to answer here. It depends. A broad answer would be meaningless to deceptive as that would not reflect your specific market segment.
Can I read or skim that market report?
Sure thing. Download the Charlottesville real estate market report for the 1st Quarter of 2025 here, and please ask me what questions you have as to how the data and analysis relates to you.
