Housing report reveals prices continue to rise

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CHARLOTTESVILLE, Va (CBS19 NEWS) -- The housing report released by the Charlottesville Area Association of Realtors reveals that housing prices continue to rise in the greater Charlottesville area.

The report shows that home sales around Charlottesville have risen by 13.7 percent compared to this time last year. It was an increase from 608 to 691 homes sold in the first quarter.

The median price of homes also rose nearly 14 percent. Sales prices rose from $271,629 to $309,145 equating to a 13.8-percent increase.

According to Arleen Yobs, President of CAAR, one of the biggest concerns to realtors is the drop in homes for sale. Inventory of homes for sale fell 13.9 percent.

"Our main concerns right now are builders are just really striving to keep up with the demand for housing," said Yobs.

With the price of homes increasing, it continues the concern for affordable housing within the city.

Charlottesville Police officers find themselves having to live further away from the city because their salary isn't high enough to live within city limits.

Mindy Goodall, Executive Director for the Charlottesville Police Foundation, recognizes it's not good for the community when its law enforcement does not live in the community they are serving.

"It's kind of a hard draw to get people to get to want to be police officers here in the city of Charlottesville," she said. "They can even go to Albemarle County and have more options of places to live outside in the county."



 
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