This post will focus on the sales of farms in Albemarle County VA during December 2010. For the purpose of this blog we will consider farms to be properties with 10 or more acres.
Since there were not any sales of farms in Albemarle County during December 2010, I have included the November 2010 figures for comparison.
December 2009 average list price $3,298,500.
November 2010 average list price $1,456,000.
December 2010 average list price $0.
December 2009 average sale price $3,041,250.
November 2010 average sale price $1,184,666.
December 2010 average sale price $0.
December 2009 median sold price $2,525,000.
November 2010 median sold price $604,000.
December 2010 median sold price $0.
December 2009 %sold/list 92.20%
November 2010 % sold/list 81.3^%.
December 2010 %sold/list 0%.
In 2009, 38 farms sold on the Albemarle County VA real estate market. In 2010, 39 Albemarle farms sold.
As you can see the sales of Albemarle farms have remained flat year over year. However we can also see that the price range that buyers are comfortable shopping in is way down. Also from the % of sold/list figures it is fair to extrapolate that buyers are looking for a deal and are making low offers and are expecting that those offers will be accepted.
The above figures are from the mls and while they are not guaranteed they are assumed to be correct.