Charlottesville VA Real Estate Market Update

Charlottesville VA Real Estate Market Update

Current mortgage rates for 30-year fixed is 5.65%


Consumers are being stretched thin by inflation, from the gas pump to the grocery store, and are beginning to slow their spending compared to last year.

Mortgage rates are rising at the quickest pace in 40 years, with a 30-year fixed-rate mortgage reaching the highest level since 2009 last week at 5.53%, as inflation keeps growing and there is speculation about an imminent economic slump.

Experts predict a real estate slowdown in the coming quarters: According to CoreLogic’s research of the country’s top regional housing markets, there are 70 regional housing markets with a greater than 40% chance of seeing home prices decrease in the coming year.

The perfect storm of increased demand due to Covid, a robust stock market, and low real estate inventory fueled a two-year buyer frenzy that saw prices rise 20% in a hot seller’s market; this affected Charlottesville real estate market and Charlottesville realtors as well.

Farm and estate specialists like Charlottesville Country Properties noted renewed appreciation for properties with acreage mirroring the national trend of migration from urban to rural lifestyles, especially from affluent professionals who can now work from home.

Recent mortgage interest rate increases and an unpredictable stock market have slightly tempered the Charlottesville real estate market, which may be a welcome trend for buyers waiting for the market to cool off a little.

We do not expect Charlottesville, VA, real estate prices to appreciate as quickly as they have over the last few years. Still, demand for farms, estates, and land should stay steady due to the work-from-home trend and the proliferation of broadband internet access even in once remote areas.

    Charlottesville VA real estate market trends

    REDFIN – September 2022

    • The median sale price of a home in Charlottesville, VA, was $403K last month, up 2.6% from the previous year.
    • Charlottesville’s average sale price per square foot is $291, up 13.2% from last year.
    • In general, Charlottesville home prices were up 2.6% year over year in July 2022, with a median price of $403K.
    • Homes in Charlottesville sell in 9 days on average, compared to 69 days last year.
    • In July of this year, 64 homes were sold, down from 70 in July the prior year.
    • The number of listings in the Charlottesville, VA, real estate market increased by 51% between July 2022 and August 2022.
    • The median list price in August 2022 was $439,999, while the average listing age was 48 days.
    • In July 2022, 277 homes were sold in Charlottesville, VA, up from 120 the previous year.

    Charlottesville Real Estate

    Call John Ince for information on new listings, price reductions and properties coming soon in the Charlottesville, VA area.

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    Market update for the Charlottesville real estate market including:  Albemarle County, VA, Orange County, VA, Madison County, VA, Greene County, VA, Nelson County, VA, Fluvanna County, VA, Louisa County, VA real estate.

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    Protected forever: Dutchmont, 100 acre oasis  near Charlottesville, Virginia

    Protected forever: Dutchmont, 100 acre oasis near Charlottesville, Virginia

    An extraordinary offering in the heart of the Keswick Hunt

    Just prior to the year 2000, three 100 acre parcels were created from the stunning 18th century plantation known as Windholme in southern Orange County, Virginia. A carefully conceived conservation easement was created to protect each parcel and the remainder from further development. 

    Plans were drawn by noted architect J. Kestner (and are available) for a most unique home sited to enjoy the long reaching views of this unspoiled Piedmont valley. Repurposing materials from an 19th century mill found in the Blue Ridge mountains, a dramatic four bedroom post and beam home was created exuding rustic character at every turn while benefitting from modern technology and efficiencies.

    For the horse enthusiast the situation could not be more opportune. The previous owner who was active with the Keswick hunt used the property as a hunt box and created an excellent five stall stable with a two bedroom apartment attached. There are several paddocks for turn out and marvelous riding opportunities on and around Dutchmont.

    Dutchmont is comprised of 100 acres of prime Virginia farm land. It has approximately 75 acres in gently rolling pasture and hayland with the balance in mature hardwood forest reaching to the top of a small mountain. The property is well watered with several springs, a stream and a large pond of several acres stocked with gamefish. Except for the horse paddocks, the farm is currently maintained by a neighboring farmer who makes hay and grazes cattle on the land.

    Dutchmont is located less than 10 minutes from the charming, historic town of Gordonsville and about 30 minutes from Charlottesville and the University of Virginia. Washington, DC is about two hours north.

    Price $3,200,000. MLS 631259.

    Magificent New Farm Listing Near Barboursville

    For anyone who has been waiting patiently for the perfect property to come on the market, it’s been worth the wait!

    Stilwin with 183 acres, nestled in a private valley less than 20 minutes from Charlottesville is available for your consideration. The land and improvements are in pristine condition and the setting boasts amazing views of the Southwest and Blue Ridge mountains. Surrounded by properties under conservation easement for perfect peace of mind.

    Hidden estate parcel on one of Albemarle County’s prettiest roads

    Hidden estate parcel on one of Albemarle County’s prettiest roads

    These 85 acres are situated between two farms and comprised of an ideal balance of open pasture, gently rolling woodland and a breathtaking mountainside. A trail network provides great access through the lower woods, (elevation 600 ft) and to the top of the property at nearly 1000 ft. A good well and electric are already on site as is fiber optic for high speed internet.

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    Waiting for spring to pop. Warming temps have sent the crocuses up and the daffodils are poking up and looking around as well, not quite sure if they can trust these early 70’ days. The horses get their blankets off during the day and revel in a good roll. The Blue Ridge rise almost purple some days. Daylight savings cost us some sleep but gives us a little more time after work to enjoy the outdoors.



    Another dreary day in January; overcast, 34 degrees and muddy underfoot. I was contemplating this morning as I was squishing back to the house in the near dawn after feeding the horses and chickens..they’re sleeping. All the barren trees, the pruned back shrubs, the wilted fronds of the summer’s hostas, lillies, irises, mums and bee balms. This is their night as they rest in their roots and branches, snuggling in under a blanket of leaf mulch and soft soil, enjoying a well deserved rest after an energetic summer during which we enjoyed their fruits, flowers and fragrances.  Sleep well friends, we’ll see you in the morning!

    BTW, there is no better time to look at country property than in the winter. No bugs, no brambles and you can see through the woods. Call me for an update on new listings!

    View Country Property Listings