Charlottesville, VA 22902 Real Estate Market Report

ZIP Code: 22902
Report Date: April 2026
Market Temperature: NEUTRAL
Scope: Single-Family Residential (SFR) listings and comps only

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Executive Overview

As of April 2026, the real estate market in Charlottesville, VA is characterized by a median sold price of $480,000, reflecting a stable market with slight downward pressure on prices. This indicates a cooling trend from previous appreciation, as the market appears to be adjusting to elevated interest rate pressures. The neighborhood has decreased 8% since 2022, suggesting a shift in buyer sentiment and market dynamics.

Transaction activity shows moderate velocity, with median days on market extending to 330 days, indicating slower sales and a potential oversupply of listings. The elevated inventory levels suggest that sellers may need to adjust expectations to align with current market realities, particularly as the median listing price stands at $473,245, creating a notable gap between asking and sold prices. Overall, the market temperature remains neutral, with a balance between supply and demand, though the current conditions may require strategic adjustments for both buyers and sellers.

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Market Overview

This analysis is based on a sample of properties from this ZIP code (up to 200 sold properties and up to 100 active properties). The median prices below are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

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Market Metrics

Note: The property counts shown above represent only the properties analyzed in this report sample, not the total inventory for this ZIP code. Median prices are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

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Rental Market

Note: The relationship between property values and rental rates reflects different market dynamics. Higher-priced properties may have lower rental yields due to factors such as luxury market positioning, owner-occupancy preferences, or long-term appreciation strategies rather than immediate rental income maximization.

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Property Taxes

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Liquidity & Velocity

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Market Trends & Context

Understanding Market Temperature

A Neutral market indicates balanced conditions where neither buyers nor sellers have a strong advantage, typically characterized by flat price trends, extended but stable days on market, and moderate inventory relative to sales.

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Key Findings

1. The median sold price is $480,000, indicating a stable market despite slight downward pressure.

2. With median days on market at 330, the market is experiencing slower sales velocity, suggesting weak liquidity.

3. The median listing price of $473,245 shows a significant gap compared to the sold price, indicating potential pricing friction for sellers.

4. Elevated interest rate pressure is impacting affordability, contributing to a declining buyer sentiment.

5. Rental demand remains strong with a median market rent of $1,890, reflecting growing rental activity despite overall market adjustments.

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Notable Properties

The following 8 properties represent notable market examples and recent transactions that illustrate key market dynamics. These are illustrative examples selected for their significance (top sales, market benchmarks, quick sales) and are not the basis for the statistical calculations shown above.