Its the beginning of a new month, and time to take a look at what the current trends are in the Albemarle County real estate market. In this report we will take a look at what happened regarding sales of farms in Albemarle County, Virginia. This report will track properties that were listed as farms in the CAAR mls.
In August of 2008 there were not any farms with contingent or pending contracts.
4 Albemarle County farms were sold in August of 2008. The average sold price was $5,587,250, with an average list price of $6,524,750 and a median of $7,250,000. The farms had been on the market for an average of 154 days and sold for an average of 85.63% of list price.
There are currently 23 farms actively listed on the Albemarle County real estate market. The average list price is $2,868,283 and the median is $2,200,00. They have been on the market for an average of 195 Days.
In July of 2008 1 Albemarle County farm sold. The sales price was $14,600,000 and the list price had been $13,900,000. It had been on the market for 39 days and sold for 105% of the list price.
In August of 2007 1 farm sold in Albemarle County for $1,350,000. It had been listed for $1,485,000, was on the market for 49 days and sold for 90.91% of the list price.
As you can see from these figures the market for farms in Albemarle County has been soft for the past year and this trend continues. If you are considering buying, this would be a very good time to find a great value for your money. There is alot to choose from, interest rates are low and many farms have been on the market for a long time. Give me a call and I would be happy to go over the inventory with you to help locate that perfect Central Virginia horse property.
If you are thinking about selling, I would hold off unless you absolutely have to sell now. If you do need to sell, it is important to price the property right in the beginning. Agressively priced farms are getting shown. I would be happy to do a free CMA to help determine what would be the best price for your property in today's market.
Search all of the Albemarle County Farms currently on the market.