CAAR Releases 2014 Second Quarter Report

July 15, 2014

The Charlottesville Area Association of Realtors (CAAR) has released numbers for the 2014 second quarter of home sales.

The report showed a 5% growth in closed sales from last year with 856 homes sold in the Charlottesville area. The median sales price has also jumped a healthy 13% from $276,500 to $244,250.

According to CAAR, the number of days homes are spending on the market has decreased 11% since the start of this year and new listing activity has gone up by 10.4%. That resulted in an increase of active inventory at the end of the quarter.

"One of the main reasons for inventory is the confidence among sellers realizing that the market's decent. The prices are decent. It makes sense. If they're thinking of selling, there's no reason to wait," said CAAR's President John Ince.

Ince also says the strong new home sales reflect a new generation of buyers interested in attached homes, townhouses and condos.

For more information on the full report, visit www.CAAR.com.


The comments sections of Newsplex.com are designed for thoughtful, intelligent conversation and debate. We want to hear from our viewers, but we ask that you follow our rules for commenting. E-mail is required to comment on a story, but it will not be displayed with your comment. For complete rules, CLICK HERE. The Newsplex reserves the right to not post or to remove any comment.
powered by Disqus
The Charlottesville Newsplex 999 2nd Street S.E. Charlottesville, VA 22902 434.242.1919 – Main 434.220.7522 - Newsroom
Gray Television, Inc. - Copyright © 2002-2014 - Designed by Gray Digital Media - Powered by Clickability 267147701 - newsplex.com/a?a=267147701