Total Sales: Total Q1 2013 sales grew marginally as compared to last year (516 vs. 514). However, buyer demand is strong: 1 out 3 of the Q1 homes sales went under contract in less than 30 days.
Inventory: Levels have increased in almost all major submarkets. Based on improved market conditionsand increased buyer demand, more sellers are listing their homes for sale.
Contracts: The “contracts written” metric is an indicator of future home sales. We anticipate a strong spring market based on Q1 2013 numbers.
Median Home Prices: Median prices in the overall MSA were down 2.77%. With eager buyers in the market, we’ll be keeping a close eye on price trends in 2013.
For a complete overview, please view the entire Q1 2013 Charlottesville Nest Report here.
