"The Charlottesville metro housing market has entered neutral territory with 3 months of supply, prompting 41.5% of active listings to reduce their asking prices during the week ending Nov. 7, 2025. Despite the surge in price cuts, the Virginia metro maintains a median list price of $609,890, a 34% premium over the state's $453,740 median. This pricing paradox reflects a market in transition."
"Properties now sit for a median of 70 days before going under contract, compared to 56 days statewide and 77 days nationally. Price adjustments have become the primary tool for sellers seeking to stand out. The 41.5% of listings with reduced prices far exceeds typical market norms, while only 0.4% of sellers raised their asking prices. Additionally, 5.2% of current listings have been relisted after previously leaving the market."
"Charlottesville's median price per square foot reached $234.5, maintaining a 7% premium over Virginia's $218.7 average and a 10% premium over the national figure of $212.3. This pricing strength persists even as sellers make concessions to move properties. The disconnect between high absolute prices and widespread price reductions suggests sellers initially overestimated market demand. With neutral market conditions now prevailing, pricing strategies must align more closely with buyer expectations."
Charlottesville metro housing market has moved into neutral territory with a 3-month supply and 499 active single-family homes. During the week ending Nov. 7, 2025, 41.5% of active listings reduced asking prices while only 0.4% increased prices and 5.2% were relisted. Median list price remains $609,890, 34% above Virginia's $453,740 median. Properties sit a median 70 days before going under contract, compared with 56 days statewide and 77 days nationally. Median price per square foot is $234.5, a 7% premium over Virginia and 10% over the national figure. Sellers are using price reductions to attract buyers as inventory accumulates.
#charlottesville-housing-market #price-reductions #inventory--3-month-supply #median-price-per-square-foot
Read at www.housingwire.com
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