CHARLOTTESVILLE, Va. (CBS19 NEWS) -- Is the American dream of owning your own home getting farther out of reach for the average middle-class Charlottesville-area family?

Virginia Realtors released their May 2023 home sales report and it shows fewer homes are for sale but are selling for more.

The median home price in Virginia is up to $410,000. In 2019, it was $310,000.

Charlottesville Area Association of Realtors president S. Lisa Herndon says they're seeing a slowdown in the market with sellers being forced to wait.

"Buyers are getting frustrated. There's very little inventory and they keep looking and then not finding what they need in terms of these prices. They keep anticipating for these prices to go down but they're not," she said.

The average listing price in Charlottesville is almost $436,000.

Herndon said her first-time home buyer clients are just waiting in the pipeline, staying prepared to buy something they can actually afford.

"They're looking at conditions, and they're looking at the price. Because of course now with the higher interest rates from where they were just a month ago. They're looking at how much more it's going to cost them for their mortgage," she said.

Using a standard mortgage calculator, at 2019 prices and interest rates a monthly mortgage payment would be on average $1,583.

At today's prices and interest rates, it would be $2,840.  And that doesn't count the extra $20,000 you need for a down payment.