The Charlottesville Area Association of REALTORS® has reformatted the Quarterly Market Report to include more information.  We have included data from the past six years to make it easy for readers to compare current stats to previous years.  Also new to this year are statistics on new construction and condos.  The final additions to the report are several graphs to provide a visual image of the market history.
Quick Facts from the 1^st Quarter Market Report:
·         The median price for the Charlottesville area dropped for the first quarter in many years.
·         The real estate market appears to have hit the bottom in late 2006 and is starting to bounce back up.
·         Inventory of homes for sale is high with over 11 months supply on the market.

By Dave Phillips, CEO