Local Housing Market Holding Steady According to Two Reports
ALBEMARLE COUNTY, Va. (WVIR) - Although not as many people are selling houses during this time of year, reports are saying the market is currently in a good place. According to two different housing reports that came out Monday, the housing market in Charlottesville, Albemarle County, and the central Virginia region is holding steady.
The third quarter report from Nest Realty shows that over all, sales are down and prices are up, but not drastically. A similar report from the Charlottesville Area Association of Realtors shows a similar trend of stability.
Jim Duncan, an associate broker and partner at Nest Realty, doesn’t see anything preventing buyers from taking the next step.
"We have a fairly strong economy, we have good interest rates, and we have a desirable place to live, so all those factors come together to say it's not a bad time to buy,” Duncan said.
The reports show inventory is still low so that means fewer options for buyers.