Home sales in Central Virginia have reached the highest quarterly total since 2006, according to the Charlottesville Area Association of Realtors’ second-quarter report.
There were 1,124 homes sold between April and June 2016, a 17.2 percent increase from the second quarter of 2015. That number is also 25.3 percent higher than the five-year second-quarter sales average.
“I think some of that is pent-up demand,” CAAR President Donna Patton said. “I think, also, the low interest rates help, and people just wanting to get into a new home really drives it.”
The median sales price in the greater Charlottesville area increased slightly to $295,400, an increase of 4.7 percent from the second quarter of 2015.
