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CHARLOTTESVILLE
22901
1 $ 849,500 3,676 1.0 - 2.5 acres 4.0 4.0 20 162 7 3 157 Most expensive 25% of homes
0.25 - 0.50
2 $ 384,900 2,423 acre 4.0 3.0 8 163 12 10 119 Upper-middle 25% of homes
0.25 - 0.50
3 $ 289,900 1,856 acre 3.0 3.0 20 163 13 10 109 Lower-middle 25% of homes
8,001 - 10,000
4 $ 199,999 1,298 sq ft 3.0 2.0 40 163 20 16 151 Least expensive 25% of homes
PRICE
Despite this week's down tic, the market
seems to have paused around this
plateau. The Market Action Index is a
good leading indicator for the
durability of this shift.
QUARTILE PRICES
Often, we find insights by watching
pricing trends within the quartile
segments.
Pricing is on a slightly negative trend
lately. Prices in Quartile 4 and 1 have
been mixed recently, while the rest of
the market is trending downward. Look
to a strong, persistent up shift in the
Market Action Index as a leading
indicator of the trough in the market.
INVENTORY
Inventory has been climbing lately.
Note that rising inventory alone does
not signal a weakening market. Look to
the Market Action Index and Days on
Market trends to gauge whether buyer
interest is keeping up with available
supply.
Residential house prices are a function of supply and demand, and market conditions can be MARKET ACTION INDEX
characterized by analyzing those factors. Watch this index for sustained changes: if the index
falls into the Buyer’s Market zone for a long period, prices are likely in for a downward The CHARLOTTESVILLE market is
correction. currently in the Buyer's Market zone
(below 30), though not strongly so. The
90-day Market Action Index stands this
week at 22 so buyers should expect find
reasonable levels of selection.
The quartiles can help you answer the question, "How hot is the market for homes in my price
range?"
CHARLOTTESVILLE
Neighborhood Detail 22901
PRICE
Price trends in this zip code continued
their recent uptrend this week. While
still below the market's high point,
we've seen a nice run recently.
2 $ 499,925 3,114 1.0 - 2.5 acres 4.0 4.0 15 42 3 3 125 Upper-middle 25% of homes
0.25 - 0.50
3 $ 369,950 2,314 acre 4.0 3.0 9 42 1 1 108 Lower-middle 25% of homes
0.25 - 0.50
4 $ 279,250 1,935 acre 3.0 2.5 37 42 6 6 131 Least expensive 25% of homes
PRICE AND VALUE
The market appears to be placing an
increasing premium on homes. When
list prices and price per square foot
consistently increase in tandem, as
they're doing now, you can often find
short-term investment opportunities.
Watch the Market Action Index for
persistent changes as a leading
indicator for these trends to flatten or
drop.
INVENTORY
Inventory has been falling in recent
weeks with 168 properties available this
week. Note that declining inventory
alone does not signal a strengthening
market. Look to the Market Action
Index to gauge whether buyer interest
is falling with the available supply.
DAYS ON MARKET
The properties have been on the market
for an average of 140 days. Half of the
listings have come newly on the market
in the past 119 or so days. Watch the 90-
day DOM trend for signals of a changing
market.
DAYS ON MARKET