Charlottesville/Albemarle Luxury Home Sales Over 1 million – 2023 Q3 Summary

Charlottesville/Albemarle Luxury Home Sales – 2023 Q3 Summary

1. 2023 Q3 Home Sales Over $1 Mill: Town/Area Breakdown


During Q3 in the Charlottesville/Albemarle area, there were a total of 96 luxury home sales, amounting to over $126 million USD. Charlottesville led with the highest number of sales at 62. Keswick followed with 14 sales, and Crozet had 12 transactions. North Garden, Scottsville, and Troy each recorded the lowest sales, with only 1 sale each. 


2. 2023 Q3 Home Sales Over 1 million: Subdivision Breakdown


In the Charlottesville/Albemarle area during Q3, Glenmore was the subdivision with the highest number of luxury home sales with 13. In second place Old Trail had 6 transactions over $1 million while several subdivisions, including Barracksdale, Belmont, Belmont Point, and Belvedere, were among those with the lowest, each recording only 1 sale. 


3. 2023 Q3 Home Sales Over 1 million: Zip Code Breakdown

In Q3, the Charlottesville/Albemarle area experienced varied luxury home sales across different zip codes. The zip code 22903 had the highest sales at 25. In the mid-range, zip code 22902 saw 12 sales. The lowest sales were recorded in 22959, 22974, and 24590, each with only 1 sale. 


4. Average DOM For Luxury Homes Sales in Q3

In Q3, the average days on market for luxury home transactions in the Charlottesville/Albemarle area was 31. The city with the longest average time was Afton at 209 days, while North Garden had the shortest at just 5 days.


5. Luxury Home Sales in Q3: Avg. Cost Per Square Foot


In Q3, the Charlottesville/Albemarle area saw diverse average costs per square foot for luxury homes. Afton topped the chart with an average of $1,833 per square foot. On the lower end, Scottsville had the lowest average at $209 per square foot. Notable mid-range averages were seen in Charlottesville and Keswick, with $360 and $269 per square foot respectively. The overall average cost for luxury home transactions across all towns and cities was around $505 per square foot.


6. Luxury Home Sales in Q3: Cost vs. Asking Price


In the Charlottesville/Albemarle area, properties sold for an average of 103.13% of their asking price.


7. Luxury Home Sales in Q3: Average Cost Per Sq Acre


For properties larger than 2 acres in the Charlottesville/Albemarle area, the average cost per acre is about $276,627.