Charlottesville Real Estate Market Feb 2026

The latest data show a firm but gradually normalizing market: both Albemarle County and the City of Charlottesville ended 2025 with higher prices, more sales, and a lot more inventory, while rents remain elevated and tax/assessment pressure is still in play

Home prices (sales side)

• In Q4 2025 (the latest data as of Feb 4th, 2026), Albemarle’s median sales price was $558,750, up 4% year over year (about a $23,750 gain), with Charlottesville at $546,140, up 10% (about $51,140).

• Regionwide CAAR median slipped 2% to $464,995, meaning your two core jurisdictions are outperforming the broader footprint on price growth.

• At the portal level, Zillow pegs the average Charlottesville home value at about $500,000 (up 0.7% YoY, typically pending in 39 days), while Redfin shows the average sale price closer to $617,000, reflecting a mix that skews to higher‑end closed sales.zillow+1

• Note: YoY – Year over year

Sales volume and market speed

• Q4 2025 sales rose modestly: Albemarle closed 388 transactions (up 2%, +7 sales) and Charlottesville 88 (up 4%, +3 sales) versus Q4 2024.

• Sold dollar volume followed suit, with Albemarle at about $293.3M (up 8%, +$21.4M) and Charlottesville around $58.2M (up 4%, +$2.1M).

• Median days on market lengthened: 16 days in Albemarle (8 days slower than a year ago) and 22 days in Charlottesville (5 days slower), aligning with a “more choice, less frenzy” feel heading into early 2026.

Inventory and months of supply

• CAAR‑wide, active listings surged 34% in Q4 to 925, with months of supply rising from 2.3 to 3.0.

• Locally, Albemarle finished Q4 with 309 active listings (up 31%, +74) and Charlottesville with 63 (up 97%, +31), showing a sharp loosening from 2022-23 lows while still below classic buyer‑market territory.

• Redfin’s December 2025 snapshot for Albemarle shows a median sale price of about $547K (up 6.3% YoY), 33‑day average DOM (down from 43), and 186 closed sales in that month, suggesting demand is still absorbing the added inventory reasonably well.[redfin]​

Charlottesville Rental trends

• Zillow’s rental dashboard reports an average rent around $2,045 in Charlottesville rentals, down roughly $105 year over year as of November 2025, with over 400 available rentals-an early sign of rent growth cooling at the top end.[zillow]​

• RentCafe estimates average apartment rent near $2,091, up about 1.8% year over year, with most leases clustering in the $1,501–$2,000 band.[rentcafe]​

• Virginia Realtors’ statewide work still flags Charlottesville as one of the sharper movers for smaller units: one‑bedroom asking rents were roughly 6% higher YoY in Q2 2025, keeping affordability front‑and‑center for students and early‑career tenants.[virginiarealtors]​

Charlottesville Property taxes and assessments

• The Q4 CAAR report doesn’t give specific mill rates, but the combination of rising Albemarle and Charlottesville medians, plus higher volumes, points to continued upward pressure on taxable values into 2026 unless offset by rate cuts.

• Regionwide inventory and days‑on‑market increases imply some moderation in valuation growth, yet with Albemarle and Charlottesville both posting strong price gains in Q4, owners should still expect 2026 assessment discussions and budget hearings to be sensitive in both jurisdictions.

Policy, construction, and pipeline

• Residential permits in the Charlottesville metro reached about 1,216 through October 2025 (up 12% YoY), driven largely by a 37% jump in multifamily permits; single‑family permits rose about 5%.

• This mix, more multifamily, steady single‑family-supports both continued rental inventory growth and incremental for‑sale supply, especially in designated growth areas of Albemarle and infill corridors near central Charlottesville.[realcentralva]

• Local commentary for early 2026 points to a “flat to 1-3%” price expectation for Charlottesville/Albemarle overall, with segment‑level variation (entry‑level versus luxury, walkable city infill versus rural) driven by pricing strategy and condition. reddit+1

Portal + CAAR snapshot table