The Charlottesville area regional housing market is SUPER HOT! Sales activity expanded in the 1st quarter compared to last year, and the median sales price climbed more than $26,000. Growth in both transactions and prices led to a nearly $36 million surge in sold dollar volume. Stay tuned for more!
Hey everyone, I’m Ashley Palmer, I am a realtor with Town Realty in Charlottesville Virginia and we want to help YOU move smarter… You can learn more about us by visiting our website TOWNCVILLE.COM. For a complimentary consultation with me click on the link in the comments.
So lets talk about how hot the market is..You would think with a pandemic causing us to stay in our houses that it would prevent people form buying and selling but we are seeing quite the opposite. The local real estate market in Charlottesville is BOOMING! In fact, the median sales price rose by about 7% this year. That means our market is appreciating at least on average 7% those are amazing returns. I cannot think of any savings account that can get you that.
So not only are you gaining appreciation when you buy but you are also saving tons of money because interest rates are their lowest in 50 years! Buyers can afford a lot more now and buyers who didn’t qualify before can qualify now because of these rates.
So we know it’s a great time to buy a house. A great appreciating market and low interests rates but this is causing a housing shortage because there are way more buyers than there are sellers. That’s right this area has low inventory. Its never been a better time to sell. Because there are so many buyers making offers on houses there are bidding wars so you can potentially get over market value for your home right now!
This can be very frustrating to buyers that keep making offers on properties but you just have to watch the market everyday to see the new listings, be the first one to see the house and be the first to make an offer and make it a strong one. Otherwise you could miss out. But if you do…no worries because there will certainly be more opportunities. Keep your head up and hire a good realtor, like ,me!
So if you would like to have a consultation with me to see how I can better help you find a home give me a call or send me an email. Links are in the description.
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