Median sale prices increased in many parts of the Charlottesville real estate market in July, according to the Long & Foster Market Minute reports. The Charlottesville market includes the City of Charlottesville and Albemarle, Buckingham, Nelson, Fluvanna and Greene counties. The Long & Foster Market Minute reports are compiled from data from residential real estate transactions within specific geographic regions, not just Long & Foster sales.

In the Charlottesville region, median sale prices increased in most areas when compared to July 2014, including a 55 percent increase in Greene County. Fluvanna County experienced a 20 percent increase, and the City of Charlottesville saw a 6 percent increase. In Albemarle County, the median sale price rose by 5 percent, while in other areas it decreased by 9 percent to 50 percent.

The number of units sold in the Charlottesville region varied when compared to the same month in 2014, increasing by 50 percent in Buckingham County and remaining unchanged in Fluvanna County. Other areas experienced decreases of 13 percent to 41 percent.

Active inventory decreased throughout the Charlottesville region. Greene County saw a 28 percent decrease, and the City of Charlottesville saw a decrease of 25 percent. In Albemarle County inventory fell by 22 percent, while it dropped by 17 percent in Nelson County and 15 percent in Fluvanna County. Inventory in Buckingham County fell by 1 percent.

In the City of Charlottesville, homes are selling at a solid pace with a days on market (DOM) average of 58 days, followed by a DOM of 69 days in Albemarle County. Both Buckingham and Fluvanna counties experienced an average DOM of 109 days, while other parts of the region saw DOM averages ranging from 148 days to 154 days.

“The United States’ economy has been having a good summer, and the positivity we’ve been seeing in previous months continued in July. The real estate industry also reflected these trends, which was evident in the Charlottesville region and surrounding area,” said Jeffrey S. Detwiler, president and chief operating officer for The Long & Foster Companies. “We feel confident that we’ll continue to see improvements in the market, and look forward to what the end of summer and start of fall will bring.”

The Long & Foster Market Minute is an overview of market statistics based on residential real estate transactions and presented at the county level. The easy-to-read and easy-to-share reports include information about each area’s units sold, active inventory, median sale prices, months of supply, new listings, new contracts, list to sold price ratio, and days on market. Featuring reports for more than 500 local areas and neighborhoods in addition to more than 100 counties in eight states, The Long & Foster Market Minute is offered to buyers and sellers as they aim to make well-informed real estate decisions.

The Long & Foster Market Minute reports are available at www.LongandFoster.com, and you can subscribe to free updates for the reports in which you’re interested.