Overall, the Charlottesville region’s real estate market remains robust. Residential sold volume
increased by 7.5% this quarter when compared to the fourth quarter of 2016. The median sales
price increased by 12%. The year-end review of annual sales indicated a 4.0% increase over
2016.
Strong momentum continues to build in the City of Charlottesville. Sold volume in the 4th
quarter increased by 11.4% compared to last year. The median sales price increased by 17.1%
when compared to the same timeframe in 2016.
In Albemarle County, 4th quarter residential sold volume rose by 11.5% and median sold
prices rose by 25.2%.
Sold volume increased in several neighboring counties. Louisa County’s sold volume rose
by 5% and the median sales price also rose by 6.2%. Home sales volume also increased by
17.1% in Orange County, however the median sales price decreased by 10%. Greene County
experienced an increase of 10.3%, with a median sales price decrease of 5%. Fluvanna County
experienced a 5.5% increase in home sales with a 1.6% decline in sales price.
Elmwood
Orange | $3,750,00
While Nelson County experienced a sold volume decline of 17.6%, the median price increased
by 16.4%. Madison County also saw a decline in home sales of 14.3% with a 12.9% rise in
median sales price.
As we move into the Spring Season, our associates are grateful for the opportunities within
the communities in which we live and work. We look forward to renewal, fresh starts and new
beginnings and wish the same for you. Contents On behalf of all of us at Frank Hardy Sotheby’s International Realty, thank you for your
continued trust and support. Single Family Detached Home Sales Pages 4 - 5
Single Family Attached Home Sales Pages 6 - 7
Vacant Land Sales Pages 8 - 9
With appreciation,
R. Franklin Hardy
CEO and Principal Broker