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CAAR Report: Home Sales Are on the Rise throughout Central Virginia

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Arleen Yobs Arleen Yobs
CHARLOTTESVILLE, Va. (WVIR) -

Home sales are on the rise throughout central Virginia, according to the Charlottesville Area Association of Realtors (CAAR).

CAAR reports an increase in home sales for the fourth quarter of 2017, as compared to the same quarter of 2016.

The association also says low inventory and rising construction costs continue to raise the median-sale price.

“For the year overall we did have more sales, more listings, more pending sales. And the numbers for median-sale price actually increased,” said CAAR President Arleen Yobs.

Homes sold during the fourth quarter spent an average 71 days on the market. CAAR said this quick turnaround signals a strong sellers’ market, which it expects to carry over into 2018.

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