Charlottesville Real Estate Market Update - March 2008

Let's take a look at the Charlottesville Real Estate Market for March:

Number of Homes Listed for Sale: 3642

Number of Homes Sold in March: 195

Months of Inventory: 18.90 (down from 20 at the beginning of the year)

Average Sold Price in March: $322,206

Average List Price in March: $338,517

Average Days on Market: 130

Percentage of Selling Price to List Price: 95.18%

Total of Sold Properties in March: $66,830,132

Conclusions:
With over $66 million dollars in Real Estate sold last month, people are buying. This is a good trend compared to the start of this year, with total monthly sold properties in the $50 million range. This shows more people are getting involved in the Charlottesville Real Estate Market. This probably has a lot to do with Match Day at UVA and the NGIC expanding. A couple things to note here as well, the Months of Inventory went down as well, so the Charlottesville Real Estate Market is leveling out just nicely. Most sellers are ratifying offers within 5% of their asking price, so keep that in mind if you are currently selling a home or thinking about selling a home.