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CAAR Market Report

Greater Charlottesville Area
Includes the city of Charlottesville and the counties of Albemarle, Fluvanna, Greene, Louisa and Nelson.

Q3-2018 Quick Facts
Some economy observers are pointing to 2018 as the final period in a long
string of sentences touting several happy years of buyer demand and sales + 4.4% + 5.1% - 2.3%
excitement for the housing industry. Although residential real estate should Year-Over-Year Change in Year-Over-Year Change in Year-Over-Year Change in
continue along a mostly positive line for the rest of the year, rising prices and Closed Sales Median Sales Price Homes for Sale
interest rates coupled with salary stagnation and a generational trend toward All Properties All Properties All Properties
home purchase delay or even disinterest could create an environment of
declining sales. The CAAR Market Report is provided by the Charlottesville Area Association
of REALTORS®. Historical information is refreshed quarterly to account for
Closed Sales increased 0.6 percent for Single-Family Detached homes and property status changes and for greater accuracy. This means that figures
16.5 percent for Single-Family Attached homes. Pending Sales decreased 0.3 from past quarters may change with each quarterly update. Percent changes
percent for Single-Family Detached homes and 0.9 percent for Single-Family are calculated using rounded figures.
Attached homes. Inventory decreased 4.0 percent for Single-Family Detached
homes but increased 5.6 percent for Single-Family Attached homes. Single-Family Detached Market Overview 2
Single-Family Attached Market Overview 3
The Median Sales Price increased 1.9 percent to $340,000 for Single-Family New Listings 4
Detached homes and 11.8 percent to $259,900 for Single-Family Attached
Pending Sales 5
homes. Days on Market decreased 8.1 percent for Single-Family Detached
homes and 13.3 percent for Single-Family Attached homes. Homeownership Closed Sales 6
was less affordable, as the Housing Affordability Index was down 11.3 percent Days on Market Until Sale 7
over last year, at 110. Median Sales Price 8
Tracking reputable news sources for housing market predictions makes good Percent of List Price Received 9
sense, as does observing trends based on meaningful statistics. By the Housing Affordability Index 10
numbers, we continue to see pockets of unprecedented price heights Inventory of Homes for Sale 11
combined with low days on market and an economic backdrop conducive to
Months Supply of Inventory 12
consistent demand. We were reminded by Hurricane Florence of how quickly
a situation can change. Rather than dwelling on predictions of a somber All Properties Combined 13
future, it is worth the effort to manage the fundamentals that will lead to an
ongoing display of healthy balance.

Current as of October 5, 2018. All data from Charlottesville Area Association of REALTORS®. Information deemed reliable but not guaranteed. Report © 2018 ShowingTime.
Single-Family Detached Market Overview
Key metrics by report quarter and for year-to-date (YTD) starting
from the first of the year. Single-Family Detached properties only.
Greater Charlottesville Area
Percent Percent
Key Metrics Historical Sparkbars Q3-2017 Q3-2018 Change YTD 2017 YTD 2018 Change

New Listings 899 903 + 0.4% 3,399 3,340 - 1.7%
Q3-2012 Q1-2014 Q3-2015 Q1-2017 Q3-2018

Pending Sales 669 667 - 0.3% 2,331 2,385 + 2.3%
Q3-2012 Q1-2014 Q3-2015 Q1-2017 Q3-2018

Closed Sales 771 776 + 0.6% 2,164 2,245 + 3.7%
Q3-2012 Q1-2014 Q3-2015 Q1-2017 Q3-2018

Days on Market Until Sale 62 57 - 8.1% 64 58 - 9.4%
Q3-2012 Q1-2014 Q3-2015 Q1-2017 Q3-2018

Median Sales Price $333,500 $340,000 + 1.9% $329,750 $345,000 + 4.6%
Q3-2012 Q1-2014 Q3-2015 Q1-2017 Q3-2018

Percent of List Price Received 98.0% 97.7% - 0.3% 97.9% 98.0% + 0.1%
Q3-2012 Q1-2014 Q3-2015 Q1-2017 Q3-2018

Housing Affordability Index 109 100 - 8.3% 110 99 - 10.0%
Q3-2012 Q1-2014 Q3-2015 Q1-2017 Q3-2018

Inventory of Homes for Sale 1,094 1,050 - 4.0% -- -- --
Q3-2012 Q1-2014 Q3-2015 Q1-2017 Q3-2018

Months Supply of Inventory 4.7 4.3 - 8.5% -- -- --
Q3-2012 Q1-2014 Q3-2015 Q1-2017 Q3-2018

Current as of October 5, 2018. All data from Charlottesville Area Association of REALTORS®. Information deemed reliable but not guaranteed. Report © 2018 ShowingTime. | 2
Single-Family Attached Market Overview
Key metrics by report quarter and for year-to-date (YTD) starting
from the first of the year. Single-Family Attached properties only.
Greater Charlottesville Area
Percent Percent
Key Metrics Historical Sparkbars Q3-2017 Q3-2018 Change YTD 2017 YTD 2018 Change

New Listings 239 264 + 10.5% 883 1,080 + 22.3%
Q3-2012 Q1-2014 Q3-2015 Q1-2017 Q3-2018

Pending Sales 231 229 - 0.9% 708 847 + 19.6%
Q3-2012 Q1-2014 Q3-2015 Q1-2017 Q3-2018

Closed Sales 236 275 + 16.5% 652 804 + 23.3%
Q3-2012 Q1-2014 Q3-2015 Q1-2017 Q3-2018

Days on Market Until Sale 60 52 - 13.3% 58 45 - 22.4%
Q3-2012 Q1-2014 Q3-2015 Q1-2017 Q3-2018

Median Sales Price $232,500 $259,900 + 11.8% $239,450 $252,556 + 5.5%
Q3-2012 Q1-2014 Q3-2015 Q1-2017 Q3-2018

Percent of List Price Received 98.4% 98.6% + 0.2% 98.3% 98.7% + 0.4%
Q3-2012 Q1-2014 Q3-2015 Q1-2017 Q3-2018

Housing Affordability Index 156 131 - 16.0% 152 135 - 11.2%
Q3-2012 Q1-2014 Q3-2015 Q1-2017 Q3-2018

Inventory of Homes for Sale 234 247 + 5.6% -- -- --
Q3-2012 Q1-2014 Q3-2015 Q1-2017 Q3-2018

Months Supply of Inventory 3.2 2.8 - 12.5% -- -- --
Q3-2012 Q1-2014 Q3-2015 Q1-2017 Q3-2018

Current as of October 5, 2018. All data from Charlottesville Area Association of REALTORS®. Information deemed reliable but not guaranteed. Report © 2018 ShowingTime. | 3
New Listings
A count of the properties that have been newly listed on the market in a given quarter.

Greater Charlottesville Area

Q3-2018 Year to Date Single Year-Over-Year Townhouse/ Year-Over-Year
New Listings Family Change Condo Change

Q4-2015 598 -8.3% 170 +3.7%
Q1-2016 1,215 +11.5% 320 -4.8%
896 899 903 Q2-2016 1,267 -2.8% 322 +12.6%
3,378 3,399 3,340
Q3-2016 896 -6.4% 215 -4.0%
Q4-2016 533 -10.9% 192 +12.9%
Q1-2017 1,237 +1.8% 334 +4.4%
Q2-2017 1,263 -0.3% 310 -3.7%
Q3-2017 899 +0.3% 239 +11.2%
264 1,080 Q4-2017 632 +18.6% 193 +0.5%
215 239 857 883
Q1-2018 1,131 -8.6% 427 +27.8%
Q2-2018 1,306 +3.4% 389 +25.5%
Q3-2018 903 +0.4% 264 +10.5%
Q3-2016 Q3-2017 Q3-2018 Q3-2016 Q3-2017 Q3-2018 Q3-2016 Q3-2017 Q3-2018 Q3-2016 Q3-2017 Q3-2018
12-Month Avg 990 +1.0% 281 +18.4%
- 6.4% + 0.3% + 0.4% - 4.0% + 11.2% + 10.5% + 0.8% + 0.6% - 1.7% + 1.3% + 3.0% + 22.3%
Single-Family Detached Single-Family Attached Single-Family Detached Single-Family Attached

Historical New Listings by Month Single-Family Detached Single-Family Attached
1,750

1,500

1,250

1,000

750

500

250

0
Q1-2003 Q1-2004 Q1-2005 Q1-2006 Q1-2007 Q1-2008 Q1-2009 Q1-2010 Q1-2011 Q1-2012 Q1-2013 Q1-2014 Q1-2015 Q1-2016 Q1-2017 Q1-2018

Current as of October 5, 2018. All data from Charlottesville Area Association of REALTORS®. Information deemed reliable but not guaranteed. Report © 2018 ShowingTime. | 4
Pending Sales
A count of the properties on which offers have been accepted in a given quarter.

Greater Charlottesville Area

Q3-2018 Year to Date Single Year-Over-Year Townhouse/ Year-Over-Year
Pending Sales Family Change Condo Change

Q4-2015 475 +0.2% 121 -4.0%
Q1-2016 700 +3.7% 226 +5.1%
Q2-2016 873 +7.8% 260 +10.2%
669 667
641 2,331 2,385 Q3-2016 641 +1.7% 206 +28.0%
2,214
Q4-2016 487 +2.5% 160 +32.2%
Q1-2017 803 +14.7% 239 +5.8%
Q2-2017 859 -1.6% 238 -8.5%
Q3-2017 669 +4.4% 231 +12.1%
206 231 229 847 Q4-2017 546 +12.1% 197 +23.1%
692 708
Q1-2018 801 -0.2% 324 +35.6%
Q2-2018 917 +6.8% 294 +23.5%
Q3-2018 667 -0.3% 229 -0.9%
Q3-2016 Q3-2017 Q3-2018 Q3-2016 Q3-2017 Q3-2018 Q3-2016 Q3-2017 Q3-2018 Q3-2016 Q3-2017 Q3-2018
12-Month Avg 703 +4.0% 227 +20.3%
+ 1.7% + 4.4% - 0.3% + 28.0% + 12.1% - 0.9% + 4.7% + 5.3% + 2.3% + 13.1% + 2.3% + 19.6%
Single-Family Detached Single-Family Attached Single-Family Detached Single-Family Attached

Historical Pending Sales by Month Single-Family Detached Single-Family Attached
1,200

1,000

800

600

400

200

0
Q1-2003 Q1-2004 Q1-2005 Q1-2006 Q1-2007 Q1-2008 Q1-2009 Q1-2010 Q1-2011 Q1-2012 Q1-2013 Q1-2014 Q1-2015 Q1-2016 Q1-2017 Q1-2018

Current as of October 5, 2018. All data from Charlottesville Area Association of REALTORS®. Information deemed reliable but not guaranteed. Report © 2018 ShowingTime. | 5
Closed Sales
A count of the actual sales that closed in a given quarter.

Greater Charlottesville Area

Q3-2018 Year to Date Single Year-Over-Year Townhouse/ Year-Over-Year
Closed Sales Family Change Condo Change

Q4-2015 563 0.0% 147 -5.8%
Q1-2016 443 0.0% 133 +2.3%
785 2,245 Q2-2016 891 +9.3% 241 -12.0%
771 776 2,119 2,164
Q3-2016 785 +7.5% 236 +21.0%
Q4-2016 606 +7.6% 198 +34.7%
Q1-2017 463 +4.5% 145 +9.0%
Q2-2017 930 +4.4% 271 +12.4%
Q3-2017 771 -1.8% 236 0.0%
275 804
236 236 652 Q4-2017 662 +9.2% 207 +4.5%
610
Q1-2018 507 +9.5% 193 +33.1%
Q2-2018 962 +3.4% 336 +24.0%
Q3-2018 776 +0.6% 275 +16.5%
Q3-2016 Q3-2017 Q3-2018 Q3-2016 Q3-2017 Q3-2018 Q3-2016 Q3-2017 Q3-2018 Q3-2016 Q3-2017 Q3-2018
12-Month Avg 697 +4.9% 218 +18.9%
+ 7.5% - 1.8% + 0.6% + 21.0% 0.0% + 16.5% + 6.6% + 2.1% + 3.7% + 1.8% + 6.9% + 23.3%
Single-Family Detached Single-Family Attached Single-Family Detached Single-Family Attached

Historical Closed Sales by Month Single-Family Detached Single-Family Attached
1,200

1,000

800

600

400

200

0
Q1-2003 Q1-2004 Q1-2005 Q1-2006 Q1-2007 Q1-2008 Q1-2009 Q1-2010 Q1-2011 Q1-2012 Q1-2013 Q1-2014 Q1-2015 Q1-2016 Q1-2017 Q1-2018

Current as of October 5, 2018. All data from Charlottesville Area Association of REALTORS®. Information deemed reliable but not guaranteed. Report © 2018 ShowingTime. | 6
Days on Market Until Sale
Median number of days between when a property is listed and when an offer is accepted in a given quarter.

Greater Charlottesville Area

Q3-2018 Year to Date Single Year-Over-Year Townhouse/ Year-Over-Year
Days on Market Family Change Condo Change

Q4-2015 97 -7.6% 83 -18.6%

76 Q1-2016 96 +4.3% 100 -9.1%
74
70 Q2-2016 65 -15.6% 57 -25.0%
62 64 Q3-2016 61 -16.4% 76 +38.2%
61 60
57 58 58
52 Q4-2016 72 -25.8% 68 -18.1%
45 Q1-2017 82 -14.6% 78 -22.0%
Q2-2017 58 -10.8% 47 -17.5%
Q3-2017 62 +1.6% 60 -21.1%
Q4-2017 71 -1.4% 70 +2.9%
Q1-2018 75 -8.5% 55 -29.5%
Q2-2018 49 -15.5% 33 -29.8%
Q3-2018 57 -8.1% 52 -13.3%
Q3-2016 Q3-2017 Q3-2018 Q3-2016 Q3-2017 Q3-2018 Q3-2016 Q3-2017 Q3-2018 Q3-2016 Q3-2017 Q3-2018
12-Month Avg* 61 -8.0% 50 -17.5%
- 16.4% + 1.6% - 8.1% + 38.2% - 21.1% - 13.3% - 11.4% - 8.6% - 9.4% - 3.9% - 21.6% - 22.4%
* Days on Market for all properties from Q4-2015 through Q3-2018. This is not the average of the
Single-Family Detached Single-Family Attached Single-Family Detached Single-Family Attached individual figures above.

Historical Days on Market Until Sale by Month Single-Family Detached Single-Family Attached
175

150

125

100

75

50

25
Q1-2003 Q1-2004 Q1-2005 Q1-2006 Q1-2007 Q1-2008 Q1-2009 Q1-2010 Q1-2011 Q1-2012 Q1-2013 Q1-2014 Q1-2015 Q1-2016 Q1-2017 Q1-2018

Current as of October 5, 2018. All data from Charlottesville Area Association of REALTORS®. Information deemed reliable but not guaranteed. Report © 2018 ShowingTime. | 7
Median Sales Price
Point at which half of the sales sold for more and half sold for less, not
accounting for seller concessions, in a given quarter.
Greater Charlottesville Area

Q3-2018 Year to Date Single Year-Over-Year Townhouse/ Year-Over-Year
Median Sales Price Family Change Condo Change

Q4-2015 $288,600 +6.9% $214,000 +3.9%
Q1-2016 $269,900 -3.4% $220,000 +10.3%
$345,000 Q2-2016 $323,000 +7.3% $229,000 +4.1%
$333,500 $340,000 $329,750
$308,000 $309,000 Q3-2016 $308,000 +1.8% $221,750 +10.9%
Q4-2016 $295,000 +2.2% $197,500 -7.7%
$259,900 $252,556
$232,500 $239,450 Q1-2017 $290,000 +7.4% $237,500 +8.0%
$221,750 $224,000
Q2-2017 $341,000 +5.6% $241,000 +5.2%
Q3-2017 $333,500 +8.3% $232,500 +4.8%
Q4-2017 $324,950 +10.2% $247,500 +25.3%
Q1-2018 $345,000 +19.0% $242,000 +1.9%
Q2-2018 $348,400 +2.2% $257,000 +6.6%
Q3-2018 $340,000 +1.9% $259,900 +11.8%
Q3-2016 Q3-2017 Q3-2018 Q3-2016 Q3-2017 Q3-2018 Q3-2016 Q3-2017 Q3-2018 Q3-2016 Q3-2017 Q3-2018
12-Month Avg* $340,000 +6.6% $250,000 +8.7%
+ 1.8% + 8.3% + 1.9% + 10.9% + 4.8% + 11.8% + 4.7% + 6.7% + 4.6% + 6.7% + 6.9% + 5.5%
* Median Sales Price for all properties from Q4-2015 through Q3-2018. This is not the average of
Single-Family Detached Single-Family Attached Single-Family Detached Single-Family Attached the individual figures above.

Historical Median Sales Price by Month Single-Family Detached Single-Family Attached
$400,000

$350,000

$300,000

$250,000

$200,000

$150,000

$100,000
Q1-2003 Q1-2004 Q1-2005 Q1-2006 Q1-2007 Q1-2008 Q1-2009 Q1-2010 Q1-2011 Q1-2012 Q1-2013 Q1-2014 Q1-2015 Q1-2016 Q1-2017 Q1-2018

Current as of October 5, 2018. All data from Charlottesville Area Association of REALTORS®. Information deemed reliable but not guaranteed. Report © 2018 ShowingTime. | 8
Percent of List Price Received
Percentage found when dividing a property’s sales price by its most recent
list price, then taking the average for all properties sold in a given quarter, not
accounting for seller concessions. Greater Charlottesville Area

Q3-2018 Year to Date Pct. of List Price Single Year-Over-Year Townhouse/ Year-Over-Year
Received Family Change Condo Change

Q4-2015 97.0% +0.2% 96.9% +0.7%
Q1-2016 97.0% +0.1% 96.5% +0.3%
Q2-2016 97.6% -0.2% 97.4% -0.3%
97.8% 98.0% 97.7% 97.4% 98.4% 98.6% 97.6% 97.9% 98.0% 97.2% 98.3% 98.7% Q3-2016 97.8% +0.9% 97.4% +0.1%
Q4-2016 97.7% +0.7% 96.7% -0.2%
Q1-2017 97.5% +0.5% 98.3% +1.9%
Q2-2017 98.1% +0.5% 98.3% +0.9%
Q3-2017 98.0% +0.2% 98.4% +1.0%
Q4-2017 97.5% -0.2% 97.8% +1.1%
Q1-2018 97.4% -0.1% 98.3% 0.0%
Q2-2018 98.6% +0.5% 99.1% +0.8%
Q3-2018 97.7% -0.3% 98.6% +0.2%
Q3-2016 Q3-2017 Q3-2018 Q3-2016 Q3-2017 Q3-2018 Q3-2016 Q3-2017 Q3-2018 Q3-2016 Q3-2017 Q3-2018
12-Month Avg* 97.9% +0.0% 98.6% +0.6%
+ 0.9% + 0.2% - 0.3% + 0.1% + 1.0% + 0.2% + 0.3% + 0.3% + 0.1% - 0.1% + 1.1% + 0.4%
* Pct. of List Price Received for all properties from Q4-2015 through Q3-2018. This is not the
Single-Family Detached Single-Family Attached Single-Family Detached Single-Family Attached average of the individual figures above.

Historical Percent of List Price Received by Month Single-Family Detached Single-Family Attached
101.0%

100.0%

99.0%

98.0%

97.0%

96.0%

95.0%

94.0%
Q1-2003 Q1-2004 Q1-2005 Q1-2006 Q1-2007 Q1-2008 Q1-2009 Q1-2010 Q1-2011 Q1-2012 Q1-2013 Q1-2014 Q1-2015 Q1-2016 Q1-2017 Q1-2018

Current as of October 5, 2018. All data from Charlottesville Area Association of REALTORS®. Information deemed reliable but not guaranteed. Report © 2018 ShowingTime. | 9
Housing Affordability Index
A higher value means greater affordability. Example: An index of 120 means
the median household income is 120% of what is necessary to qualify for the
median-priced home under prevailing interest rates. Greater Charlottesville Area

Q3-2018 Year to Date Single Year-Over-Year Townhouse/ Year-Over-Year
Affordability Index Family Change Condo Change

Q4-2015 122 -3.9% 164 -1.8%
Q1-2016 130 +1.6% 159 -11.2%
162 156 160 Q2-2016 110 -6.8% 155 -4.3%
152
135 Q3-2016 116 0.0% 162 -7.4%
131
Q4-2016 117 -4.1% 175 +6.7%
116 116 110
109 Q1-2017 120 -7.7% 147 -7.5%
100 99
Q2-2017 106 -3.6% 149 -3.9%
Q3-2017 109 -6.0% 156 -3.7%
Q4-2017 111 -5.1% 145 -17.1%
Q1-2018 100 -16.7% 143 -2.7%
Q2-2018 97 -8.5% 132 -11.4%
Q3-2018 100 -8.3% 131 -16.0%
Q3-2016 Q3-2017 Q3-2018 Q3-2016 Q3-2017 Q3-2018 Q3-2016 Q3-2017 Q3-2018 Q3-2016 Q3-2017 Q3-2018
12-Month Avg 112 -12.3% 152 -13.9%
0.0% - 6.0% - 8.3% - 7.4% - 3.7% - 16.0% - 1.7% - 5.2% - 10.0% - 3.6% - 5.0% - 11.2%
Single-Family Detached Single-Family Attached Single-Family Detached Single-Family Attached

Historical Housing Affordability Index by Month Single-Family Detached Single-Family Attached
200

180

160

140

120

100

80

60
Q1-2003 Q1-2004 Q1-2005 Q1-2006 Q1-2007 Q1-2008 Q1-2009 Q1-2010 Q1-2011 Q1-2012 Q1-2013 Q1-2014 Q1-2015 Q1-2016 Q1-2017 Q1-2018

Current as of October 5, 2018. All data from Charlottesville Area Association of REALTORS®. Information deemed reliable but not guaranteed. Report © 2018 ShowingTime. | 10
Inventory of Homes for Sale
The number of properties available for sale in active status at the end of a given quarter.

Greater Charlottesville Area

Q3-2018 Single Year-Over-Year Townhouse/ Year-Over-Year
Homes for Sale Family Change Condo Change

Q4-2015 1,058 -13.7% 287 -14.8%
Q1-2016 1,260 -6.8% 329 -7.8%
1,228 Q2-2016 1,322 -12.4% 316 -3.7%
1,094 1,050 Q3-2016 1,228 -14.7% 260 -18.5%
Q4-2016 878 -17.0% 240 -16.4%
Q1-2017 1,064 -15.6% 258 -21.6%
Q2-2017 1,183 -10.5% 274 -13.3%
Q3-2017 1,094 -10.9% 234 -10.0%
Q4-2017 819 -6.7% 176 -26.7%
260 234 247 Q1-2018 948 -10.9% 226 -12.4%
Q2-2018 1,100 -7.0% 269 -1.8%
Q3-2018 1,050 -4.0% 247 +5.6%
Q3-2016 Q3-2017 Q3-2018 Q3-2016 Q3-2017 Q3-2018 12-Month Avg 1,084 -8.1% 260 -8.6%
- 14.7% - 10.9% - 4.0% - 18.5% - 10.0% + 5.6%
Single-Family Detached Single-Family Attached

Historical Inventory of Homes for Sale by Month Single-Family Detached Single-Family Attached
2,500

2,000

1,500

1,000

500

0
Q1-2003 Q1-2004 Q1-2005 Q1-2006 Q1-2007 Q1-2008 Q1-2009 Q1-2010 Q1-2011 Q1-2012 Q1-2013 Q1-2014 Q1-2015 Q1-2016 Q1-2017 Q1-2018

Current as of October 5, 2018. All data from Charlottesville Area Association of REALTORS®. Information deemed reliable but not guaranteed. Report © 2018 ShowingTime. | 11
Months Supply of Inventory
The inventory of homes for sale at the end of a given month, divided by the
average quarterly pending sales from the last 4 quarters.
Greater Charlottesville Area

Single Year-Over-Year Townhouse/ Year-Over-Year
Q3-2018 Months Supply Family Change Condo Change

Q4-2015 4.9 -21.0% 4.7 -23.0%
Q1-2016 5.8 -10.8% 5.3 -11.7%
5.5 Q2-2016 5.9 -16.9% 4.9 -7.5%
4.7 Q3-2016 5.5 -17.9% 3.8 -26.9%
4.3 Q4-2016 3.9 -20.4% 3.4 -27.7%
3.8
Q1-2017 4.6 -20.7% 3.6 -32.1%
3.2
2.8 Q2-2017 5.1 -13.6% 3.9 -20.4%
Q3-2017 4.7 -14.5% 3.2 -15.8%
Q4-2017 3.4 -12.8% 2.3 -32.4%
Q1-2018 4.0 -13.0% 2.7 -25.0%
Q2-2018 4.5 -11.8% 3.1 -20.5%
Q3-2018 4.3 -8.5% 2.8 -12.5%
Q3-2016 Q3-2017 Q3-2018 Q3-2016 Q3-2017 Q3-2018 12-Month Avg* 4.0 -12.4% 2.8 -20.2%
- 17.9% - 14.5% - 8.5% - 26.9% - 15.8% - 12.5%
* Months Supply for all properties from Q4-2015 through Q3-2018. This is not the average of the
Single-Family Detached Single-Family Attached individual figures above.

Historical Months Supply of Inventory by Month Single-Family Detached Single-Family Attached
17.5

15.0

12.5

10.0

7.5

5.0

2.5

0.0
Q1-2003 Q1-2004 Q1-2005 Q1-2006 Q1-2007 Q1-2008 Q1-2009 Q1-2010 Q1-2011 Q1-2012 Q1-2013 Q1-2014 Q1-2015 Q1-2016 Q1-2017 Q1-2018

Current as of October 5, 2018. All data from Charlottesville Area Association of REALTORS®. Information deemed reliable but not guaranteed. Report © 2018 ShowingTime. | 12
All Properties Combined
Key metrics by report quarter and for year-to-date
(YTD) starting from the first of the year.
Greater Charlottesville Area
Percent Percent
Key Metrics Historical Sparkbars Q3-2017 Q3-2018 Change YTD 2017 YTD 2018 Change

New Listings 1,138 1,167 + 2.5% 4,282 4,420 + 3.2%
Q3-2012 Q1-2014 Q3-2015 Q1-2017 Q3-2018

Pending Sales 900 896 - 0.4% 3,039 3,232 + 6.4%
Q3-2012 Q1-2014 Q3-2015 Q1-2017 Q3-2018

Closed Sales 1,007 1,051 + 4.4% 2,816 3,049 + 8.3%
Q3-2012 Q1-2014 Q3-2015 Q1-2017 Q3-2018

Days on Market Until Sale 62 56 - 9.7% 63 54 - 14.3%
Q3-2012 Q1-2014 Q3-2015 Q1-2017 Q3-2018

Median Sales Price $294,007 $309,000 + 5.1% $293,750 $310,000 + 5.5%
Q3-2012 Q1-2014 Q3-2015 Q1-2017 Q3-2018

Percent of List Price Received 98.1% 98.0% - 0.1% 98.0% 98.2% + 0.2%
Q3-2012 Q1-2014 Q3-2015 Q1-2017 Q3-2018

Housing Affordability Index 124 110 - 11.3% 124 110 - 11.3%
Q3-2012 Q1-2014 Q3-2015 Q1-2017 Q3-2018

Inventory of Homes for Sale 1,328 1,297 - 2.3% -- -- --
Q3-2012 Q1-2014 Q3-2015 Q1-2017 Q3-2018

Months Supply of Inventory 4.3 3.9 - 9.3% -- -- --
Q3-2012 Q1-2014 Q3-2015 Q1-2017 Q3-2018

Current as of October 5, 2018. All data from Charlottesville Area Association of REALTORS®. Information deemed reliable but not guaranteed. Report © 2018 ShowingTime. | 13