CAAR releases first quarter report (FILE) (Source: WVIR) By NBC29 Newsroom | May 3, 2021 at 12:30 PM EDT - Updated May 3 at 12:31 PM CHARLOTTESVILLE, Va. (WVIR) - The Charlottesville Area Association of REALTORS is warning of a slowdown in the housing market. CAAR says strong underlying fundamentals leading up to the coronavirus pandemic will help the region rebound. That’s part of the message in the association’s first quarter sales report released early Monday, May 3. According to the report, sales increased 11% compared to the same time last year. The median sales price increased 11%, to $302,000, while inventory dropped 11%. Additionally, home sales were up across the board compared to the first quarter in 2019.