July 15, 2014
The Charlottesville Area Association of Realtors (CAAR) has released numbers for the 2014 second quarter of home sales.
The report showed a 5% growth in closed sales from last year with 856 homes sold in the Charlottesville area. The median sales price has also jumped a healthy 13% from $276,500 to $244,250.
According to CAAR, the number of days homes are spending on the market has decreased 11% since the start of this year and new listing activity has gone up by 10.4%. That resulted in an increase of active inventory at the end of the quarter.
"One of the main reasons for inventory is the confidence among sellers realizing that the market's decent. The prices are decent. It makes sense. If they're thinking of selling, there's no reason to wait," said CAAR's President John Ince.
Ince also says the strong new home sales reflect a new generation of buyers interested in attached homes, townhouses and condos.
For more information on the full report, visit www.CAAR.com.