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CAAR Raises Over $20,000, Helping to Provide Over 80,000 Meals for a Month to Area Residents in Need

BRAFB Picture 1CAAR has announced its membership has raised over $20,000 during the month of July for the Blue Ridge Area Food Bank Mobile Food Pantry (MFP) program. REALTORS® and affiliates of CAAR raised over $10,000, which was then matched by a $10,000 donation from Virginia Estates.

The MFP program was created to reach some of the Food Bank's most vulnerable clients—those living in more rural areas with no access to commercial food providers and/or food assistance services. There are 11 MFP sites, where the Food Bank brings a truck full of fresh produce and shelf-stable proteins to be distributed to families in need. Eight of the MFPs are in the Charlottesville area, serving an average of 175 families per distribution.

"I can't thank the members of CAAR enough," said Millie Winstead, Director of Development for the Blue Ridge Area Food Bank. "Not only has their online fund drive been the largest we have received to date, but their generous donation will provide food for all eight mobile food pantries in Charlottesville for a month."

"Our association and its members are integrated in our community, and we are continuously finding ways to help during these hard times," said CAAR 2020 President Tom Woolfolk. "Knowing our donation is helping to deliver over 80,000 meals to families, children, and seniors, who would otherwise go without, means the absolute world to us."

CAAR 2020 2nd Quarter Home Sales Report Available

CAAR 2020 Q2 Market Report InfographicThe CAAR 2020 2nd 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. It's a great way to understand the real estate market in a holistic way.

Economic Conditions
  • Like the rest of the Commonwealth, the Charlottesville region was hit hard by job losses during the spring. However, there is evidence that the regional economy is improving as we head into summer.
  • Consumer confidence in the economy rebounded, after plummeting in March and April. Expectations about future economic conditions have been improving over the past two months.
  • Record low mortgage rates have driven a refinance boom and have helped sustain the for-sale market during the COVID-19 pandemic and economic downturn. Low rates will continue throughout 2020 and into 2021.
Housing Market Conditions
  • Sales activity slowed in the CAAR housing market this quarter as COVID-19 uncertainty continued through the spring months. There were 1,181 sales throughout the CAAR footprint in the 2nd quarter, which is 217 fewer sales than a year ago, a 16% drop.
  • Despite the slowdown in sales, home prices continue to climb in the region. At $331,500, the 2nd quarter median sales price in the CAAR housing market rose 4% from last year.
  • The shrinking inventory trends have accelerated in the CAAR footprint amid the on-going pandemic. Similar trends are occurring throughout the State. There were 1,198 active listings at the end of the 2nd quarter in the CAAR market, 592 fewer active listings than last year, a 33% plunge.

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.

CAAR Operates at Level 2 Continuity Plan

The Charlottesville Area Association of REALTORS® (CAAR) continues to be committed to the safety and well being of all our members, staff, and guests. We continue to monitor the COVID-19 pandemic and all communication from the Centers for Disease Control (CDC), government agencies, local health officials as well as our State and National REALTOR® association partners to keep tabs on this ever-changing situation.

Effective 8:30 a.m. on Thurs., June 11, 2020, CAAR is moving to Level 2 of our continuity of business operations. Level 2:
• Modified building access days/hours.
• CAAR sponsored events/classes to be hosted on a case-by-case basis. • Staff and volunteer travel to be determined on a case-by-case basis.
• Staff working remotely; available in the office by appointment only.
• Hillsdale Conference Center open for rentals or appointments.

The CAAR Leadership Team will continue to evaluate the situation and adjust our response accordingly. As an organization, we are dedicated to our members’ well-being and success. CAAR’s professional Staff is available to you by e-mail and phone.

About CAAR

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.