Condo and attached home projects have increased in popularity in the Charlottesville, Virginia area in the last couple of years. As the prices for detached homes skyrocketed in 200-2005 more people began looking at condos as an affordable alternative. Also the University of Virginia, and the hospital bringing in students, and residents added another segment of the population who needed housing.
For the purpose of this real estate market report I have grouped attached homes and condos together.
In June there were 44 contingent contracts ranging in price from $85,000-864,000.
36 homes have pending contracts and are priced from $149,900-579,900.
In Charlottesville 15 homes sold with an average price of $291,828 and a median price of $263,275 and an average days on market of 117.
There are currently 123 active listings, priced from $103,900-$895,000.
At the June rate of sales there is approximately 8.2 months of inventory on the market. This is definately still a buyers market.
For more information on the Charlottesville condo market please contact:
Information is from the mls and deemed accurate but not guaranteed.