Albemarle County Real Estate Market News
As soon as someone knows that I am in real estate, they always ask me what is happening in the local real estate market.
Traditionally we think of the real estate market being dead during the time between Thanksgiving and Christmas. However that is definately not what I am seeing so far this year. I have lots of people looking at property right now and have gotten several new clients this week who are ready to start their home search. Actually last year, I got really busy two weeks before Christmas and that kept on through January and February. Is this the new normal? If we have a bad winter with a lot of snow we may see a halt to the activity.
If you are planning on listing your home to sell, you may think that its a good idea to wait until spring when there are more buyers. While the spring is normally when we see the largest amount of sales, there will also be the most competition from additional homes, since other sellers may be waiting to pur their homes on the market. In addition, the people who are looking at homes during the holidays are usually serious, or they would be Christmas shopping instead of shopping for a house.
Here is an illustration of what has been going on in the Albemarle County real estate market. The rise in the new pendings during October shows the increase in sales activity that we have been seeing this fall.