My Deal Of The Week
This home was built in 1946, but you'd never know it from its look and feel. It's my deal of the week because the lot next door is also for sale—a rare opportunity. Buy this home, live in it while you build your dream home next door, then move in, sell, or rent it—the choice is yours. Either way, you'll have options. Plus, I just really like this house.
54 First St
Fisherville, VA
3 Bedroom - 2 Bathroom
6 Days on Market | $329,000
Listed by 1st Choice Real Estate
What I'm Following
The Economy… And Tariffs
The main thing to understand about a trade war and housing is not just its short-term effects but also its long-term impact. The best way to gauge what tariffs will do for housing is to look at the Builder Confidence Index.
The NAHB (National Association of Home Builders) Housing Market Index fell to 39 in March, the lowest in seven months, down from 42 in February and below expectations. Comparing this to last year, when the housing index was 51, we can see a significant shift in the economic outlook. What does this all mean? It shows that when tariffs are discussed, builders anticipate a much different future for home construction.
Tariffs won't have a huge impact on homes that are already built. However, they will affect rehab costs, which will, in turn, make home buying more expensive if the home needs updates. And let's be honest—that's a lot of homes under $400K. It will be interesting to see if the tariffs come into play and how they might affect home prices.
What The Local Market Is Doing
March is here, and that means buyers are out—but so are sellers. As I always say, most sellers become buyers, so if homes keep hitting the market, we could be on track for the highest number of listings since 2022. Of course, that's not a tough record to beat—2022 had the fewest homes listed ever.
Charlottesville Area
- Homes Listed This Week - 55 | Last Week - 49
- Median Sold Price - $525,000 | Last Week - $513,000
- 3.7 Months of Inventory | Last week it was 3.6 Months
Augusta County, Waynesboro & Staunton
- Homes Listed This Week - 50 | Last Week - 44
- Median Sold Price - $325,000 | Last Week - $314,590
- 1.79 Months of Inventory | Last week it was 1.65 Months
Today's rate - 6.78% with a 30 Yr. fixed conventional mortgage - Last Week 6.79%
Local Spot I'm Excited About
Crozet Crepe Company
I love crepes, so when I heard a new crepe café was coming to Virginia, I thought, this can't be true!?! But it is! I don't have many details yet, except that it's opening soon in Crozet and will be serving breakfast and lunch. YUM! I can't wait!
My Final Thoughts
If you've been wondering where my weekly newsletter has been and why you haven't received one since last year… well, I'll just say it—I was burnt out and decided to take a break. Honestly, it was probably a longer break than I planned, but I needed it.
That said, I'm back! And I'm excited to bring you my weekly updates again so you can stay current on the local housing market and local happenings.
As always, if you or anyone you know is ready to buy or sell, I'm here to help!
