CAAR REAL ESTATE WEEKLY WWW.CAAR.COM
REAL ESTATE NEWS
FEBRUARY 26 - MARCH 3, 2020 ISSUE 2908
16
s r e y u b e Hom : e t o N Take
Affordable Houses
AVAILABLE NOW
Twenty-nineteen was another banner year for the local real estate market with good news for both buyers and sellers. Fourth quarter figures from CAAR (Charlottesville Area Association of REALTORS®) show an impressive seven percent increase in year-over-year home sales. And, sellers appreciate the $18 thousand increase in the median sales price that accompanied declining inventories of resale homes. In addition, new construction sales were up 12 percent (749 to 837) compared to the last quarter of 2018, says Michael Guthrie CEO and Principal Broker at Roy Wheeler Realty Co. There is good news for buyers as well, as “the new home median sold price decreased from $429,900 in 2018 to $362,000 in 2019,” Guthrie says, a trend due to “high demand for lower priced homes that has increased sales in counties like Greene and Fluvanna.” Except for Albemarle, local rural counties boasted median prices well below $300 thousand which means buyers can continue to find deals, especially those willing to drive a little to get more home and/or acreage for their money.
