CAAR Releases Quarterly Report on Central Va. Housing Market
CHARLOTTESVILLE, Va. (WVIR) - The average price for a home in central Virginia continues to go up, according to the first quarter report from the Charlottesville Area Association of Realtors (CAAR).
The report shows homes in the area are taking a little longer to sell.
Sales are down by 6% compared to the first three months of last year.
Realtors say it could have to do with bad weather stalling some development projects.
They say the area's housing market is stable and interest rates remain historically low.
But they add that it's still a market for sellers, especially in Greene County.
"Greene County has 22 new home sales - those are houses sold by the builders,” Tom Woolfork, the CAAR president-elect, said. “Twenty-two in the first quarter this year and last year - we would wanna look at the comparison, there was only one."
Woolfork says this upcoming quarter is when the most real estate activity occurs and if you're looking to sell, you should do it now.
See the whole report below.