The Charlottesville, Virginia Housing Market Report

MARKET REPORT

The State of the Market

Regarded as the heart of Virginia Wine Country and the home to the University of Virginia, one of the best public universities in the United States, Charlottesville, Virginia benefits from its ideal location, its bustling downtown, and its wide range of housing options.

Among the most popular communities in the Mid-Atlantic, Charlottesville, Virginia is characterized by more accessible home styles and neighborhoods in the City of Charlottesville and then larger farm and estate homes on the outskirts of town in greater Albemarle County.

The most expensive home sold in Charlottesville, Virginia for the year ending 2024 was a stunning estate residence in the desirable enclave of Farmington, Virginia. Originally built in 1952, the over 6,000 square foot residence sits on over 2 acres of met immaculately landscaped grounds, The home sold fully furnished as part of a private sale for $9.75 Million in February 2024.

Just down the road, the historic Gallison Hall estate sold in November 2024 for 8.45 Million. Desinged in the Georgian Revival style by legendary architect Stanhope Johnson, this circa 1931 estate features over 11,500 square feet of interior living space across 43 acres of pristine grounds overlooking the nearby Blue Ridge Mountains.

“Charlottesville, Virginia is among the most desirable communities in the Mid—Atlantic,” says Conor Murray, Broker at Frank Sotheby’s International Realty in Charlottesville, Virginia.

“Because of its unique history and incredible location on the foothills of the Blue Ridge Mountains, Charlottesville, Virginia truly has it all.”

For those seeking to purchase a single family home in Charlottesville, Virginia, you can expect to pay an average of $367.55 per square foot and an average total sales price of $833,988. Detached single family homes in Charlottesville, Virginia typically sell in 23 days.

For those seeking a new construction homes in Charlottesville, Virginia, options are available — with new construction representing 22% of all residential home sales.

In Charlottesville, Virginia, for the year ending 2024, the average sale price for a new construction detached single family home was $888,418.

Among the most desirable communities in the United States, raw land in Charlottesville, Virginia is more readily available outside of the city limits, with 55 land sales recorded for the year ending 2024 and an average price per acre of $278,399.