While we all suffered through interest rate hikes, run-away inflation, and a lethargic economy the Charlottesville real estate market still powered on. It’s amazing what a college town can do to a local economy.
Buyers from all over the world continue to buy Charlottesville homes as they are a solid investment.
I noticed there was an increase in new home buyers and when asked why they wanted to move to Charlottesville the major response was due to bad weather, the heat, drought, and fires throughout the US.
I know folks living along the west coast of Florida who are more than willing to move to Charlottesville.
Charlottesville new construction will continue to sell in Keswick Estates, Old Trail Crozet, the Club at Glenmore, new communities off 5th Street Extension, and White Gables condos.
Bidding wars will continue for luxury Charlottesville homes in Bellair, Ednam, and Farmington, including all homes near UVA (Lewis Mountain neighborhood), and the more affordable homes in Fry’s Springs and Greenbrier neighborhoods.
Prices may have dropped 5% since 2021 but homes are mostly selling at the correct comp pricing and not hanging around on the MLS. This is why it’s important to run comps as comps don’t lie. (Home sellers who don’t listen to their Charlottesville realtors will end up being unhappy with their final sales price).
Charlottesville townhomes will continue strong as there are still too few for the many seniors moving to Charlottesville. My favorites are still Ednam Village, Kenridge, Old Trail, and Out of Bounds.
Charlottesville condos will continue to sell like hotcakes especially downtown Charlottesville new condos including wonderfully located but older McGuffey Hill, and condos around UVA like Hessian Hills and Huntington Village.
Charlottesville historic homes never have a problem selling in a slow real estate market. There’s enough money coming down from New York and Greenwich hedge fund owners to buy any Charlottesville historic home that comes on the market. Thus prices have skyrocketed in the past years.
Charlottesville farms are in the same boat. There is never enough of them. The best-sellers are Keswick farms and farms for sale in Free Union. Prices up to $8m are to be expected although the $3m range moves the fastest.
Charlottesville, Virginia has long been sought after for its refined, cosmopolitan atmosphere and southern hospitality. It’s truly a relaxing place to live, work, and retire.
As one of eleven hundred Charlottesville realtors, I have found that most people move here because of the University of Virginia, its amazing history, two of the Top 50 Hospitals in America, superb public schools, Wintergreen ski resort, 6 challenging golf courses, our five Star Resort, Keswick Hall, the spectacular Blue Ridge Mountains, 11 vineyards, fabulous Charlottesville horse farms, the bi-annual Foxfield Steeplechase Races, renown music scene (think Dave Mathews Band), a hip art scene, two fox hunts, the nationally syndicated Keswick Horse Show, and tasty nouvelle cuisine and farm-to-table dining.
The first time Charlottesville earned this accolade was in 1812 when it was known throughout ‘these united states’ as the finest, Georgian city in the 13 colonies.
Culture, history, sports, arts & fun are here for all ages.
If you’re looking for a refined, southern cosmopolitan lifestyle, then Charlottesville is for you
It is still a seller’s market for condos, townhomes, and affordable homes up to $500,000. This means there will usually be anywhere from 2-5 offers on any listing within two days. So sharpen your pencils and get in there the first day!
As for Charlottesville luxury homes priced from $800-$1.5M, it is still a hot market and you can expect the home to go under contract within 3-5 days (again depending on its location and condition).
For Charlottesville farms, there are probably 10 buyers waiting for a small Charlottesville farm to come on the market.
So be ready to pull the trigger when something fabulous comes on the market.
Do NOT use Zillow or Realtor.com, their appraisals are always wrong
Get with a fellow realtor or myself as members of our local MLS CAAR receive listings 24 hours before those other companies get our data, and by then offers have already been made.
How I differ from other top Charlottesville realtors:
I work 24/7 which means weekends and holidays.
I cut my phone off at 10 pm so we can talk up until then.
I will send you a BPO or CMA on any property you desire.
I will preview properties when you are not available.
As I steer you through your home buying experience, I’ll make it enjoyable and fun! Yes, fun and enjoyable.
After 20 years of endless driving, I know every nook and cranny of the Charlottesville real estate market. I also know what’s going on…And who are the BEST builders?
I had to learn this as a house renovator for over 40 years. One wrong buy and you can lose big time. You get my 25 years of feedback and advice.
Allow me to be your Charlottesville realtor & teach you what I have l learned.