TODAY IN THE MARKET

Current News

CAAR 2020 4th Quarter Home Sales Report Now Available

2020 Q4 Market Report InfographicThe CAAR 2020 4th Quarter Home Sales Report, a custom report prepared by Virginia REALTORS®, is now available.

In addition to providing housing metrics, this report provides you and your clients with an in-depth look into local, state, and national economic conditions including unemployment rate comparisons, job change by industry, monthly permits for new residential construction, and more. It's a great way to understand the real estate market in a holistic way.

Economic Conditions
  • In the 4th quarter of 2020, economic conditions continued to improve in Virginia, as well as in the Charlottesville region. There have been steady gains in employment and a consistent decline in the unemployment rate since the summer.

  • Consumer confidence dropped in December, reflecting uncertain political and economic conditions at the end of 2020.

  • Mortgage rates remained at historically low levels throughout the 4th quarter, fueling strong home sales activity. 
Housing Market Conditions
  • Sales are surging in the CAAR area housing market. There were 1,278 sales in the 4th quarter, a 23% jump from last year.

  • Home prices are rising rapidly in all local markets. The overall median sales price for the region was $348,050 in the 4th quarter, a 13% increase from last year, a gain of nearly $40,000.

  • There were 671 active listings on the market at the end of the 4th quarter in the CAAR footprint, which is about half of what the inventory level was last year.
Download the full report today!

CAAR Installs 2021 President, Officers, & Directors

CAAR 2021 President Quinton BeckhamCAAR announced the installation of 2021 President Quinton Beckham during a hybrid in-person/virtual ceremony on Thursday, December 10, 2020 at the Hillsdale Conference Center.

Beckham is a REALTOR® and the Owner Principal of Keller Williams Realty – Charlottesville. He has been an active member in the Association since 2012 – volunteering on various master groups, committees, and councils since 2014. Before his real estate career, Beckham was in the healthcare service industry for over 20 years.

In addition to Beckham’s installation, the following Officers and Directors were also installed:

Officers
President-Elect, Pam Dent, Gayle Harvey Real Estate, Inc.
Treasurer, John Seidler, Real Estate III - West
Immediate Past President, Tom Woolfolk, Keller Williams Alliance - Charlottesville

Directors
Rives Bailey, Montague Miller & Co. – Westfield
Rachel Burns, RE/MAX Realty Specialists- Charlottesville
Anne Burroughs, Nest Realty Group
Rachel Foster, Long & Foster – Old Ivy
S. Lisa Herndon, Keller Williams Alliance – Charlottesville
Georgia Lindsey, Nest Realty Group
Aaron Manis, Sloan Manis Real Est. Partners
Tom Pace, Long & Foster - Glenmore
Ginger Slavic, Long & Foster – Old Ivy
Keith Smith, Keller Williams Alliance - Charlottesville

As part of the installation program, Immediate President's Award - Tele JeniferPast President Tom Woolfolk announced Tele Jenifer of Real Estate III - North as the recipient of the prestigious President’s Award. This award is given to members who’ve made significant contributions to the Association’s success in the past year.

The installation event was sponsored by Courthouse Retrieval System (CRS) Data, Farm Credit of the Virginias, and Hal Johnson of Guaranteed Rate.

REALTOR® Katelyn Mancini Honored with CAAR Second 2020 Good Neighbor Award

CAAR has announced Katelyn Mancini of Roy Wheeler Realty, Co., as the recipient of the CAAR Second 2020 Good Neighbor Award (GNA), sponsored by Hal Johnson of Guaranteed Rate.

The Good Neighbor Award program highlights local REALTORS® who dedicate significant time and interest to projects that make a lasting impact on our communities.

Mancini has been volunteering for more than five years with The Fluvanna SPCA, whose mission is to rescue domestic animals in Fluvanna County from cruelty, neglect, and abandonment and to place them in good, loving, permanent homes.

"Katelyn joined the volunteer-based board in 2018. Like a lot of us at the shelter both staff and board members alike, Katelyn dedicates a lot of her time and behind the scenes," said Jessy Shifflett, Fluvanna SPCA Shelter Manager. "Katelyn is an active board member and focuses most of her time and attention on fundraising events (now-a-days they are virtual) and spreading awareness. Most recently she has been a vital voice providing feedback for us getting a new website up and running for the shelter which is huge!"

A $500 donation was made to The Fluvanna SPCA in Mancini’s name.


About CAAR

Office Operation - CAAR Operates at Level 2 Continuity Plan.

About
- The Charlottesville Area Association of REALTORS® serves more than 1,300 real estate professionals and affiliate members throughout the City of Charlottesville and the counties of Albemarle, Fluvanna, Greene, Louisa, and Nelson. Widely recognized as the leading voice for real estate in Central Virginia since 1925, CAAR members bring professionalism and high ethical standards to every business transaction. The Association advocates for the protection of private property rights and provides tools and technology for members to achieve expertise in serving the needs of customers and clients. The CAAR membership is committed to enriching the region’s neighborhoods by engaging in a variety of educational programs as well as community service events each year.

Vision - The REALTOR® is indispensable to every real estate decision.

Mission - To support our REALTOR® members to be professional, ethical and successful.