Albemarle County Market Update
Albemarle County’s residential real estate market in the third quarter of 2025 has clearly entered a new phase, departing from the frenzied pace of the past several years. Inventory growth was a defining trend this summer, with the number of homes actively listed for sale jumping more than one quarter compared to Q3 last year. Buyers are now encountering a markedly expanded selection at nearly every price point: from starter homes in walkable neighborhoods to expansive rural retreats. This increase in choice has provided welcome relief to buyers who previously faced limited options and intense bidding wars, while at the same time, it has raised the bar for sellers hoping to stand out in a more crowded landscape.
Despite the swelling inventory, Albemarle’s housing demand has held relatively steady compared to 2024, and median prices continue to edge upward—though at a much gentler pace. Closed sales volumes have remained robust, but homes now typically sit longer on the market, averaging over five weeks before going under contract. Sellers can no longer expect rapid-fire offers at or above list price by default; instead, success in this new environment hinges on competitive pricing, professional presentation, and patience. Overall, the county is shifting toward a more balanced, stable market—one where both buyers and sellers can negotiate from stronger positions than in the recent past.
Q3 2025 Key Trends:
- Inventory & Supply:
- Average of 420 active listings, up 26% YoY
- 520 new listings during Q3 (+19% vs. Q3 2024)
- Pricing:
- Median new list price up 2% to $595,000
- Median sold price up 1% to $540,000
- Sales Activity:
- 370 closed sales (virtually flat YoY)
- Average days on market rose 16% to 37 days
- Sold homes averaged 99% of list price, slightly off from a year ago
- Trend: Inventory outpacing sales, slower decision-making for buyers, but price levels still supported by demand for quality homes.
Summary:
Albemarle’s balance is shifting toward buyers, but well-priced homes still move faithfully. Price gains have cooled and sellers must adjust expectations in this more competitive environment.
