Home buying activity in the first three of 2025 was similar to that of the year before according to a new report from the Charlottesville Area Association of Realtors.
“There were 695 closed sales in the area during the first quarter of 2025, one additional sale than this time last year,” reads the first quarter report.
As with recent years, the median sales price increased three percent to $450,000. (view the report)
The number of active listings has also grown.
“At the end of the first quarter there were 875 active listings on the market in the CAAR footprint, 203 more listings than a year ago,” the report continues.
Mortgage rates are down slightly with a 30-year fixed-rate loan at 6.81 percent in the fourth week of April, down from 7.1 percent in the same period in 2024.
The report also notes there has been a 17 percent increase in building permits over last year with 358 issued in the quarter across the Charlottesville metropolitan area.
The number of sales is down 19 percent in Charlottesville, five percent in Albemarle, and seven percent in Louisa. Sales were up fourteen percent in Nelson, ten percent in Greene, and 39 percent in Fluvanna.
“Louisa County and Charlottesville saw median home prices decline this quarter but Greene County experienced higher median home prices than last year,” the report continues. “In the first quarter, the median sales price was $405,000 throughout the state, up 5.2 percent from a year ago.”
The median sales price for new construction fell five percent to $473,250.
Before you go: This story originally went out in the May 5, 2025 edition of Charlottesville Community Engagement. Take a look here! For more information, please visit this page which is in the process of being updated!
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