Charlottesville, VA (CVILLE RIGHT NOW) – Charlottesville real estate analyst Michael Guthrie says the local housing market is holding steady despite national economic concerns. Speaking on Morning News, Guthrie said, “We’re in pretty much of a stable real estate market right now.” He explained that although mortgage interest rates remain high, hovering just below 7%, local demand continues to support home values.

However, Guthrie warned that sellers should be cautious when setting listing prices. “One of the biggest mistakes I think sellers can make is they hear how there’s no inventory and lots of buyers and therefore I can, you know, put a big price tag on my house and I’m going to get it,” he said. He noted that overpriced homes tend to linger on the market longer and often sell for less than if they had been priced correctly from the start.

Beyond pricing strategy, Guthrie also touched on why demand remains strong in Charlottesville. He pointed to the city’s convenience, growing amenities, and appeal for those wanting to live closer to family or work. As national markets fluctuate, he said Charlottesville’s stable conditions continue to offer reassurance to both buyers and sellers.

Listen to the full conversation here: