2023 continued the 15 year-plus trend of too little inventory, and more buyers than sellers. Market dynamics seen before (supply & demand), and dynamics unseen (skyrocketing rates & increasing rather than decreasing sales prices). This is a level-setting post, not one from which to draw conclusions. Example: in the first 9 days of 2022, there were 8 new resale listings in the MLS; in the first 9 days of 2023, there were 22 new listings, and in the first 9 days of 2024, there have been 28 new listings. Is this a trend, a sign of what 2024 will be, or nothing meaningful at all? We’ll see.
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The “normal” Charlottesville real estate market is the market we are in right now. …
