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CAAR 2021 3rd Quarter Home Sales Report Now Available

CAAR 2021 Q3 Quarter Market Report Highlights InfographicsThe CAAR 2021 3rd Quarter Home Sales Report, a custom report prepared by Virginia REALTORS®, is now available.

In addition to providing housing metrics, this report provides you 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.

Economic Takeaways

  • In the third quarter of 2021, while economic conditions remained positive, there was a slowdown in job growth in Virginia. The unemployment picture continued to improve in the Charlottesville region, and economic conditions should become more certain over the next few months.
  • Consumer confidence has fallen amidst renewed uncertainties about the Delta variant. Individuals, families, and businesses have been rethinking plans that seemed more certain earlier this year.
  • Mortgage rates remain at historically low levels, but an improving economy will lead to moderate increases in the average 30-year fixed-rate mortgage rate.
Housing Market Conditions

  • There were 1,393 homes sold in the CAAR region during the third quarter. Sales were down 4%compared to last year at this time, a decline of 54 sales regionwide.
  • Home prices continued to rise in the CAAR area. In the third quarter, the median sales price was$365,000, which is up 12% over a year ago, a gain of more than $38,000.
  • Inventory continued to be very limited in the CAAR region. There were 643 active listings across the CAAR footprint at the end of the third quarter, 30% fewer listings than this time last year.
Download the report today!

If you have a question about today's market, contact a REALTOR® today using mycaar.com for residential properties and cvcmls.com for commercial properties. They have the expertise, tools, and local insight you need to make the best real estate decision

About CAAR

Business Operations - CAAR will move into Level 2 business operations as of Tues., Aug. 31st at 8:30 a.m.

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.