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Report: Home Sales in Charlottesville Up, Prices Down

April 16, 2013

The Charlottesville Area Association of Realtors says home sales in the greater Charlottesville area were up in the first quarter of 2013 compared to the same period in 2012. CAAR's quarterly report indicates sales are up 6.3%, resulting in the highest first quarter sales rate since 2007.

Homes are also selling quicker. According to the report, the median number of days a home was on the market was 94. That is a nearly one month improvement from the first quarter of 2012.

Not all the news is positive for sellers. The average sales price of $276,795 in the first quarter was down 1.2% from last year.

Foreclosure and short sales are down over the first quarter of 2012. 66 of the 492 home sales in Charlottesville from January to March this year were the result of foreclosures. That is about a 10% decrease from last year. The number of short sales decreased by 5 compared to last year.

The full report from CAAR is attached to this story.

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