CHARLOTTESVILLE, VA (CVILLE RIGHT NOW) – As summer sets in the local real estate market is showing early signs of a shift. Michael Guthrie, President Emeritus of Howard Hanna Roy Wheeler Realty, shared that more homes are hitting the market this quarter. “In the second quarter of 2025, about 200 more homes have come on the market versus the second quarter of 2024,” Guthrie said. That increase in inventory could give buyers more breathing room and negotiating power. 

While the pace of home sales may be slowing, prices are still inching upward. “So far this quarter… median price has gone up about four or five percent,” Guthrie explained. He urged buyers not to delay, noting that waiting for lower interest rates in recent years has cost some people tens of thousands in lost equity. “People that have waited over these last couple three years… they’ve lost opportunity,” Guthrie said. Despite high rates, many are choosing to buy now rather than risk missing out again. 

Addressing the broader challenge of housing affordability, Guthrie emphasized the power of collaboration among nonprofits, local government, and private investors. He pointed to ongoing projects like the development off Berkmar Drive offering $400,000 homes for $275,000 through community partnerships. These efforts aim to create long-term affordability and help more families get a foothold in the housing market. 

Listen to the full conversation here: