Crozet Luxury Homes For Sale
6933 WINDMERE LN CROZET, Virginia
6 Beds 4.5 Baths 4,208 SqFt 0.46 Acres
3433 CEMETERY KNL CROZET, Virginia
3 Beds 3.5 Baths 3,678 SqFt 7.07 Acres
5608 PARK RD CROZET, Virginia
4 Beds 3.5 Baths 2,913 SqFt 0.52 Acres
606 SAUNDERS HILL DR CROZET, Virginia
4 Beds 4.5 Baths 4,016 SqFt 0.14 Acres
6658 WELBOURNE LN CROZET, Virginia
6 Beds 6.5 Baths 6,458 SqFt 0.46 Acres
6788 ROCKFISH GAP TPKE CROZET, Virginia
4 Beds 2 Baths 4,059 SqFt 7.31 Acres
1769 OLD TRAIL DR CROZET, Virginia
5 Beds 3.5 Baths 4,010 SqFt 0.24 Acres
1630 BUCK RD CROZET, Virginia
4 Beds 1 Baths 1,514 SqFt 24.37 Acres
5190 SUGAR RIDGE RD CROZET, Virginia
5 Beds 5 Baths 7,662 SqFt 37.57 Acres
5190 SUGAR RIDGE RD CROZET, Virginia
5 Beds 4.5 Baths 7,662 SqFt 37.57 Acres
As of July 2024, 3 communities are building luxury Crozet new homes. They are in Glenbrook at Parkside, Old Trail, and Glenbrook at Foothill Crossing.
Note: Never purchase a new Crozet home from the builder. A savvy Charlottesville luxury realtor who is unaffiliated with the builder can delve into the Charlottesville MLS and view all the past sales. Then we relay this information to you about all the upgrades other buyers received from that builder. You win! This is a Golden Rule!
Crozet Townhomes For Sale
26 - 4 ADDLE HILL RD Lot 4, Block 26 CROZET, Virginia
3 Beds 2.5 Baths 2,084 SqFt 0.07 Acres
3488 ROWCROSS ST CROZET, Virginia
3 Beds 4.5 Baths 2,467 SqFt 0.04 Acres
3 ADDLE HILL RD Lot 3, Block 26 CROZET, Virginia
3 Beds 2.5 Baths 2,084 SqFt 0.07 Acres
5180 GOLF DR CROZET, Virginia
3 Beds 3.5 Baths 2,140 SqFt 0.05 Acres
2025 MEYERS WAY CROZET, Virginia
4 Beds 3.5 Baths 2,449 SqFt 0.03 Acres
45 MEYERS WAY CROZET, Virginia
4 Beds 3.5 Baths 2,433 SqFt 0.03 Acres
5170 GOLF DR CROZET, Virginia
4 Beds 3.5 Baths 2,140 SqFt
2050 MEYERS WAY CROZET, Virginia
4 Beds 3.5 Baths 2,266 SqFt 0.03 Acres
Crozet Townhomes Sizes: 1-5 bedrooms and 1-4.5 baths.
Recent Crozet Townhome/Villa Sales since July 2024: 37
Median Townhome/Villa Sales Price: $507,000
Average Days on the Market: 26
Old Trail Luxury Homes For Sale
6658 WELBOURNE LN CROZET, Virginia
6 Beds 6.5 Baths 6,458 SqFt 0.46 Acres
6933 WINDMERE LN CROZET, Virginia
6 Beds 4.5 Baths 4,208 SqFt 0.46 Acres
1769 OLD TRAIL DR CROZET, Virginia
5 Beds 3.5 Baths 4,010 SqFt 0.24 Acres
6223 RAYNOR PL CROZET, Virginia
4 Beds 3.5 Baths 2,763 SqFt 0.1 Acres
Old Trail Luxury Townhomes For Sale
26 - 4 ADDLE HILL RD Lot 4, Block 26 CROZET, Virginia
3 Beds 2.5 Baths 2,084 SqFt 0.07 Acres
3488 ROWCROSS ST CROZET, Virginia
3 Beds 4.5 Baths 2,467 SqFt 0.04 Acres
3 ADDLE HILL RD Lot 3, Block 26 CROZET, Virginia
3 Beds 2.5 Baths 2,084 SqFt 0.07 Acres
5180 GOLF DR CROZET, Virginia
3 Beds 3.5 Baths 2,140 SqFt 0.05 Acres
5170 GOLF DR CROZET, Virginia
4 Beds 3.5 Baths 2,140 SqFt
39 GOLF DR CROZET, Virginia
3 Beds 2.5 Baths 1,854 SqFt 0.05 Acres
1619 OLD TRAIL DR CROZET, Virginia
3 Beds 2.5 Baths 1,824 SqFt 0.07 Acres
1020 OLD TRAIL DR CROZET, Virginia
2 Beds 3.5 Baths 1,613 SqFt 0.03 Acres
Old Trail is also located in Crozet. Old Trail Crozet is a large multi-use subdivision offering every amenity including a professional 18-hole public golf course, Old Trail Golf.
There are both single-family and townhomes for sale in Old Trail and one Old Trail condo (very strange as it seems just 1), and 31 new condo rentals.
As of July 2024, there are 12 single-family, new homes for sale in Old Trail Crozet of which 5 are already under contract.
All homes have 4 bedrooms and bathrooms range from 3-4.5.
Not all are sold…
The highest LIST price for a 4-bedroom, 4-bath Old Trail Crozet home for sale today is $1,250,000.
The median LIST price is $723,461, and the lowest LIST price is $638,301.
The most common lot size is .17 of an acre which comes out to a price per acre of $7,352,941. Wow!
Glenbrook at Parkside For Sale
No properties found
Recently Sold Glenbrook at Parkside Homes
3069 INDIGO RD CROZET, Virginia
3 Beds 2.5 Baths 2,474 SqFt 0.8 Acres
306B INDIGO RD CROZET, Virginia
4 Beds 3.5 Baths 2,738 SqFt 0.08 Acres
3066 INDIGO RD CROZET, Virginia
4 Beds 3.5 Baths 2,738 SqFt 0.1 Acres
3073 INDIGO RD CROZET, Virginia
4 Beds 3.5 Baths 2,738 SqFt 0.09 Acres
3072 INDIGO RD CROZET, Virginia
4 Beds 3.5 Baths 2,738 SqFt 0.1 Acres
Glenbrook at Parkside offers a 2-car garage and 22 first-floor Crozet townhomes for sale.
Townhome Sizes: 3-4 bedrooms and 2.5-3.5 baths.
Recent Sales: 7 since July 2024
Median Sales Price 2024: $475,000
Median Days on Market: 29
Lot Size Per Townhome: .07 acre
Glenbrook at Parkside is a Stanley Martin Homes development and they give them the sexy name of calling them – ‘villas’.
These new Crozet villas are ideally located around Crozet however, the lots are .07 of an acre.
This is tiny and assuredly you will hear your neighbors!
I cringe when a developer maximizes their profit in a selfish way. This comes out to $6,066,642.86 per acre!!!
Note: As of July 2024, the highest SOLD price for a home is $581,000.
Glenbrook at Parkside HOA Fees: Glenbrook at Parkside’s HOA fee is $125 monthly or $1500 annually. Association Setup/Transfer Fees $809 (so to sell your home it will cost you $809). I have never seen such high prices.
Amenities: None are provided by Stanley Martin Homes, the builder, however, Claudius Crozet Park offers homeowners access to the new gym, pool, and sports fields.
Location 38.065215, -78.692159.
My thoughts – Glenbrook at Parkside is a rip-off.
Glenbrook at Foothill Crossing Single-Family Homes For Sale
606 SAUNDERS HILL DR CROZET, Virginia
4 Beds 4.5 Baths 4,016 SqFt 0.14 Acres
858 ARBOLEDA DR CROZET, Virginia
3 Beds 2.5 Baths 2,087 SqFt 0.12 Acres
736 ARBOLEDA DR CROZET, Virginia
4 Beds 2.5 Baths 2,255 SqFt 0.11 Acres
Glenbrook at Foothill Crossing offers 91 single-family homes and is located in Old Trail.
Single Family Home Sizes: There are 91 single-family homes and are 3-5 bedrooms, and 2-4.5 baths.
Single-family HOA Fees: $225 quarterly and $50 setup fee.
Recent Single-Family Sales: In 2024, 5 homes.
Median Sales Price: $790,000
There have been complaints. Read about them here…
Glenbrook at Foothill Crossing Townhomes & Villas For Sale
2025 MEYERS WAY CROZET, Virginia
4 Beds 3.5 Baths 2,449 SqFt 0.03 Acres
45 MEYERS WAY CROZET, Virginia
4 Beds 3.5 Baths 2,433 SqFt 0.03 Acres
2050 MEYERS WAY CROZET, Virginia
4 Beds 3.5 Baths 2,266 SqFt 0.03 Acres
821 HEATHFIELD LN CROZET, Virginia
3 Beds 2.5 Baths 2,299 SqFt 0.08 Acres
2054 MEYERS WAY CROZET, Virginia
4 Beds 3.5 Baths 1,938 SqFt 0.03 Acres
787 PARK RIDGE DR CROZET, Virginia
3 Beds 3 Baths 2,211 SqFt 0.03 Acres
There are 92 townhomes/villas in Glenbrook and 1 condo (okay who let Fred out?) .
The Townhouse/Villa Sizes: 3-5 bedrooms and 2-4.5 baths.
Average Days on Market: 31
Median Sales Price: $457,000
Townhome Lot Sizes: The townhomes/villas are being built on .11 of an acre. There is very little privacy.
Glenbrook Builders: Greenwood Homes and Stanley Martin Homes. The development is owned by Stanley Martin Homes and Greenwood Homes.
Note: Of the two builders, I’d go with Greenwood Homes They all live here and worked for Stanley Martin Homes hence the same look and plans.
Glenbrook at Foothill Crossing Townhouse HOA Fees: $385 quarterly with an association setup/transfer fee of $500.
Amenities: None
Stanley Martin Home’s Glenbrook at Foothill Crossing Home Description
“Earth-friendly, farmhouse-style, Crozet new home with 4 bedrooms, a generously sized kitchen with a walk-in pantry, and a drop zone from the garage. The second floor offers an owner suite with a huge walk-in closet and bath with an oversized shower. 2 additional guest bedrooms, an office, a large hall bath, and a spacious laundry room. Other features include 2×6 exterior walls, R-21 insulation, energy-efficient windows, stunning exterior elevations, oak stairs, wood shelving, tankless water heater, and energy-efficient HVAC.”
Is Crozet Virginia a Good Place to Live?
You better believe it…
Crozet living offers everyone something. There are new homes, townhomes, villas, condos apartments, historic homes, and farms.
But Crozet real estate prices are getting nutty thanks to builders like Stanley Martin Homes & Greenwood Homes mass-producing new homes for sale in Crozet VA.
Crozet is located at the base of the majestic Blue Ridge Mountains in Western Albemarle County 18 mins from the city of Charlottesville.
The views are spectacular. Orchards and vineyards are everywhere. The area is very historic.
Crozet borders the Shenandoah National Park and offers wonderful hiking and mountain biking.
The ancient Blue Ridge Mountains surround so everywhere you look you’ll see pastoral, verdant farms. Crozet farms for sale are highly sought after.
The majority of Crozet new homes are built with the majestic Blue Ridge Mountain views in mind and are located minutes from Crozet by hiking, biking, or car.
Old Trail Crozet Builders
There are 4 new home builders in Old Trail: Greenwood Homes, Craig Builders, Arcadia Homes, and Stanley Martin Homes.
Craig Builders are known for their ‘Currituck Breezeway’ home with a detached 2-car garage. It is one-level living in desirable Old Trail Village. The home offers 4 bedrooms/3 full baths with a spacious, private owner’s suite, upgraded kitchen with oversized pantry, cathedral ceiling, abundant windows, and natural light. This home also offers great outdoor living with a screen porch, connecting the house to the garage, and a backyard area fenced in for ultimate privacy. There is a finished apartment above the 2-car garage.
Arcadia Homes offers 4 bedroom/4 full bath homes in Old Trail. Their standard features include 2″ x 6″ exterior walls, Pella windows, open-concept homes with high ceilings, sunlit rooms, kitchens with quartz counters, beautiful cabinetry, stainless Wolf, and KitchenAid appliances. Main level owner’s suite, home office, large walk-in pantry.
And lastly, Southern Development Homes offers a modern farmhouse look with their Meridian Model. Amenities include a detached carriage house.
Description: Light-filled and open, main level with foyer, dining, great room, kitchen, and pantry. Trex deck, and fireplace. Upstairs, enjoy a spacious primary suite with a private deck, walk-in closet, and luxurious bathroom. Two additional bedrooms, a full bath, and side-by-side laundry.
The carriage house adds a 1-bedroom apartment perfect for a home office or for rental income. Fiber optic internet is available. Every home is Pearl Certified.
Greenwood Homes of Charlottesville are the developers of Glenbrook in Crozet.
The ACAC Fitness & Wellness Center is open in Old Trail and offers a fine workout facility including yoga.
Western Albemarle High School is across the street and school buses drop the kids off there.
Who Buys Crozet Real Estate?
Mostly young families and doctors who work at the University of Virginia and downtown Charlottesville.
The commute to Charlottesville is a straight shot and effortless.
Interstate 64 has an exit at Crozet and offers an on/off ramp for easy access east to Charlottesville, Richmond, and west to the Shenandoah Valley.
While Old Trail is the largest development, there are many other wonderful new homes for sale in Crozet VA.
Old Trail Creek V, Western Ridge, The Highlands, Grayrock, Bargamin Park, Le Parc, Chesterfield Landing, Browns Cove, Crozet Crossing, Fairhill Mountain Estates, Forest Glen, Wickham Pond, Glenbrook at Foothills, Pleasant Green (read the history of Pleasant Green Crozet), and Westlake at Foothills.
Old Trail is Albemarle County’s biggest development and offers the newest Crozet homes.
About 87% of the planned Old Trail Crozet homes are complete.
Old Trail Golf is a major plus.
If you purchase an Old Trail Crozet home you also will have access to their Olympic-sized pool and numerous walking trails.
The majority of new homes for sale in Crozet VA have 3-4 bedrooms and 2.5 baths and sit on a .25 acre lot.
Grayrock and Western Ridge neighborhoods are my favorite ‘affordable’ Crozet VA homes.
If you are considering purchasing Crozet VA real estate, then allow me to help you.
I feel the Western Albemarle School District is one of the best in Virginia.
The elementary schools are Brownsville & Crozet Elementary, Henley Middle School, and Western Albemarle High School.
The Miller School of Albemarle is a wonderful private co-ed school in Crozet.
It was built in 1873 and is a historic, family-oriented, private boarding school located just south of Crozet.
Crozet is tiny but it is a happening place. The biggest employer is Music Today which handles most of the merchandising for many of the rock bands in the world including the Rolling Stones and Dave Mathews Band (who also live here!).
There are coffee shops and 5 restaurants in this tiny hamlet. There is a fabulous new public library and two, clean parks including a swimming pool in Claudius Crozet Park.
The Crozet Park Pool features an 8-lane, 25-meter outdoor swimming pool with a zero-depth entry area.
Nearby are numerous soccer fields managed by SOCCA (Charlottesville’s well-run soccer association), and little league baseball fields.
Mint Springs Park offers a public fishing lake and hiking.
Nearby are Chiles peach, apple, strawberry orchards, and alas a Dairy Queen.
There are many farms in Crozet including the fabulous King Family Vineyard which offers polo matches on Sunday.
Other Crozet vineyards include Chiswell Winery, Septenary Winery, Pollak Vineyards, Knight’s Gambit Vineyards.
Crozet breweries include Starr Hill and Pro Re Nata.
Crozet Virginia homes for sale are highly desired by young families because of the superb public schools.
The air is fresh except when farmers are spreading manure on their fields and you’ll hear the moos of cows at dawn and dusk in this bucolic, verdant valley of Western Albemarle.
Since April 2024 there have been 29 recently sold homes in Crozet.
60% of the 99 homes are pending which means they are under contract and have not closed yet.
The median price is $680,000. The high is $1,597,000, and the low is $249,000 (The $249k sale was a 1 bedroom townhome in Old Trail).
Crozet Real Estate Market
As of July 2024, the Crozet luxury real estate market is very strong and still booming.
People move here for the fabulous public schools, the spectacular scenery, the safety, and the proximity to Charlottesville (20 mins).
Crozet Virginia History
Crozet, Virginia was named for Claudius Crozet, Napoleon Bonaparte’s chief engineer.
When Napoleon was defeated at the Battle of Waterloo and banished to Elba, the United States contacted him about heading the fledgling Army Corps of Engineers.
Crozet agreed and the rest is history.
Crozet engineered the numerous tunnels through the Blue Ridge and Alleghany Mountains opening up the Shenandoah and Ohio Valley to new settlements.
Today, Crozet is known across America for its sweet peaches and tasty apples. The Albemarle Pippin originated here and was the favorite apple of King George III.
Crozet, VA and Its Luxury Neighborhoods
Nestled against the backdrop of the majestic Blue Ridge Mountains, Crozet, Virginia, is a charming town that beckons homebuyers with its scenic beauty, friendly community, and a diverse array of neighborhoods. Boasting a unique blend of rural tranquility and modern amenities, Crozet’s real estate market is thriving, offering a variety of luxury homes for sale in neighborhoods like Old Trail, Pleasant Green, and beyond. In this article, we will delve into the distinctive features of Crozet and highlight some of its captivating neighborhoods, providing prospective homebuyers with insights into the enchanting possibilities that await.
Crozet, located in the Piedmont region of Virginia, has emerged as a sought-after destination for those seeking a serene and picturesque place to call home. The town’s name pays homage to Colonel Claudius Crozet, a French-born engineer who played a significant role in the construction of the Blue Ridge Tunnel and the Virginia Central Railroad. Today, Crozet seamlessly blends its rich history with a thriving community spirit, making it an ideal location for luxury homebuyers looking for a balance between rural charm and modern conveniences.
Old Trail Luxury Homes
Old Trail Village stands as a testament to the harmonious coexistence of tradition and modernity. This master-planned community, nestled at the foothills of the Blue Ridge Mountains, offers a diverse array of luxury Crozet homes for sale, catering to various lifestyles and preferences. Whether you’re drawn to the charm of craftsman-style cottages or the elegance of colonial-inspired estates, Old Trail provides a range of housing options.
One of Old Trail’s defining features is its commitment to creating a sense of community. Residents enjoy walkable streets, well-maintained parks, and a vibrant town center. The Old Trail Golf Club, an 18-hole championship golf course designed by Arnold Palmer, adds a touch of luxury to the community. With shops, restaurants, and community events, Old Trail Village fosters a close-knit neighborhood where residents can truly immerse themselves in the Crozet lifestyle.
Pleasant Green: Where Nature Meets Comfort
Pleasant Green, another Crozet’s real estate neighborhood offers a serene and nature-centric living experience. This luxury Charlottesville neighborhood is characterized by its spacious homes set against a backdrop of lush greenery and rolling hills. Residents of Pleasant Green enjoy large lots, providing ample space for outdoor activities, gardens, and private retreats.
The homes in Pleasant Green are often designed to seamlessly integrate with the natural surroundings. Expansive windows capture panoramic views of the landscape, inviting the beauty of the outdoors into daily life. The neighborhood’s commitment to preserving green spaces ensures that residents have access to parks and trails, creating an atmosphere that encourages an active and outdoor lifestyle.
Other Luxury Crozet Neighborhoods:
Beyond Old Trail and Pleasant Green, Crozet boasts a variety of neighborhoods that cater to different tastes and preferences. Here are a few more noteworthy areas that contribute to the town’s diverse real estate landscape:
Western Ridge: Known for its family-friendly atmosphere, Western Ridge offers a mix of single-family homes and townhouses. The neighborhood is characterized by its tree-lined streets, playgrounds, and proximity to Crozet Park.
Foothill Crossing: With a focus on sustainable and energy-efficient living, Foothill Crossing offers modern homes with eco-friendly features. The neighborhood’s design emphasizes connectivity, featuring walking trails and communal spaces.
Parkside Village: Ideal for those seeking a low-maintenance lifestyle, Parkside Village offers townhomes and single-family homes with easy access to Crozet’s amenities. The neighborhood’s design encourages neighborly interaction and community engagement.
Claudius Place: Named after Colonel Claudius Crozet, this neighborhood pays homage to the town’s history. Claudius Place features a mix of architectural styles and a central location, making it convenient for residents to explore Crozet’s offerings.
Crozet’s Lifestyle and Amenities
What makes Crozet particularly appealing is the lifestyle it affords residents. The town’s commitment to preserving its natural beauty is evident in the numerous parks, hiking trails, and outdoor spaces available for recreation. Crozet Park, with its sports fields, playgrounds, and community events, serves as a hub for social activities and family gatherings.
For those with an appreciation for local flavors, Crozet’s downtown area offers a charming array of shops, boutiques, and restaurants. Residents can explore the local farmer’s market, indulge in artisanal treats, or enjoy a meal at one of the town’s culinary gems. The town’s cultural scene is also vibrant, with art galleries, music events, and festivals adding to the richness of community life.
Finding Your Luxurious Home in Crozet, VA
In the tapestry of Crozet’s luxury neighborhoods, each thread contributes to the unique charm and character of this Virginia gem. Whether you’re drawn to the traditional elegance of Old Trail, the natural beauty of Pleasant Green, or the diverse offerings of other neighborhoods, Crozet invites you to discover a place where history, community, and modern living converge.
As you explore luxury homes for sale in Crozet, you embark on a journey to find not just a house but a home—a place where the Blue Ridge Mountains stand as silent sentinels, where community bonds are forged, and where the stories of the past intersect with the dreams of the future. In Crozet, each neighborhood is an invitation to be a part of a community that values the essence of home in every sense of the word.
History of the Brown family from Browns Gap in Crozet.
Market Update for Luxury Crozet Charlottesville Real Estate
July 2024
Attention Buyers of Luxury Real Estate in Crozet Charlottesville
Here are the latest market trends in your area:
Currently, there are only 1.9 Months Supply of Inventory. This means that competition is fierce, and homes are selling fast!
Over the last 12 months, the Months Supply of Inventory has decreased by 4.04%. This indicates a strong demand for homes in Crozet, making it an opportune time to buy.
The List to Sold Price percentage is an impressive 100%. Sellers are receiving the full asking price for their properties, highlighting the value and desirability of Crozet homes.
The median days on the market is just 8 days! Properties are selling quickly, allowing buyers to find their dream home efficiently.
Lastly, the median sold price in Crozet is $502,188. This shows the appreciation and value of homes in the area.
Don’t miss out on this exciting market! As your trusted Charlottesville luxury realtor, I’m here to help you navigate the current trends and find your perfect high-end real estate in Crozet Charlottesville.
Contact me today to get started on your luxury houses in Crozet Charlottesville journey! 434-327-2999
#CrozetRealEstate #MarketUpdate #BuyersFirst #TobyBeaversRealtor
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Market Update for Luxury Townhomes in Crozet, Virginia
Name and Title: Toby Beavers, Crozet Luxury Townhome Realtor
Company: Charlottesville Luxury Real Estate
Date: July, 2024
Audience: Buyers
Current Market Trends:
Months Supply of Inventory: 1.99 (down from last year)
List to Sold Price percentage: 100% (great news for sellers)
Median days on the market: Only 8 days (homes are selling fast!)
Median Sold Price: $502,188 (a solid benchmark for market value)
As a Crozet luxury townhome realtor, I’m excited to share some valuable insights into the Crozet, Virginia housing market. Here’s what you need to know:
Inventory is in demand! With only 1.99 months supply of inventory, buyers need to act quickly to secure their dream home. Don’t miss out on this opportunity!
Sellers, rejoice! The List to Sold Price percentage is a perfect 100%, indicating strong buyer interest and a competitive market. You can trust that your property will be valued and sold at its true worth.
Time is of the essence! Homes in Crozet are spending an average of just 8 days on the market before being snatched up. If you’re a buyer, be prepared to make swift decisions and work closely with a trusted REALTOR®.
The median sold price of $502,188 serves as a helpful benchmark for understanding the current market value in Crozet. Whether you’re buying or selling, this information can guide your negotiations and pricing strategies.
If you’re interested in exploring the Crozet, Virginia real estate market further, don’t hesitate to reach out to me, Toby Beavers, a dedicated Crozet realtor, I’m here to provide expert guidance and help you navigate this exciting market with confidence. Let’s make your real estate goals a reality!
Crozet real estate is wonderful for many reasons…and the lifestyle here is youthful, healthy, safe, and relaxed.
Ladies and gentlemen, as prospective Crozet townhome buyers, I am here to provide you with an insightful analysis of some crucial real estate metrics that will help you make informed decisions in your home-buying journey. Let’s dive into the data and explore the correlation between these metrics.
Firstly, we have the “Months Supply of Inventory,” which currently stands at 1.99. This metric represents the number of months it would take to sell all the available homes on the market if no new properties were listed. A lower value indicates a seller’s market, where demand outpaces supply, potentially leading to higher prices and increased competition among buyers.
Now, let’s examine the “12-Month Change in Months of Inventory,” which shows a significant increase of +3.11%. This indicates a slight trend towards a more balanced market, with a slightly higher supply of homes compared to the previous year. This could mean more options for buyers and potentially less competition, which may offer you more negotiating power.
Moving on, we have the “Median Days Homes are On the Market,” which is an impressive 8 days. This metric represents the average number of days homes stay listed before being sold. A lower value signifies a quick-paced market where properties are in high demand, and buyers need to act swiftly to secure their desired homes. With only 8 days on the market, it’s clear that homes are being snatched up rapidly.
Next, we have the “List to Sold Price Percentage,” which stands at a remarkable 100%. This metric indicates that homes are selling for their full asking price, which highlights the strong demand and competitive nature of the market. As a buyer, this information suggests that you should be prepared to make strong offers and potentially face bidding wars to secure your dream home.
Finally, we come to the “Median Sold Price,” which currently stands at $502,188. This metric represents the middle point of all the home prices sold, indicating the overall price trend in the market. With a median sold price above the half-million mark, it’s evident that this market commands a higher price range. As a buyer, it’s important to consider your budget and be prepared for the potential costs associated with purchasing a home in this market.
In conclusion, the data we have analyzed reveals an intriguing correlation between these real estate metrics. While the market currently favors sellers, with a low supply of inventory and homes selling quickly at full price, the increasing months of inventory suggest a slight shift towards a more balanced market. However, with a median sold price above $500,000, buyers should be prepared for a competitive and potentially costly market. By staying informed and working with a knowledgeable real estate agent, you can navigate these dynamics and make confident decisions in your home-buying journey.