This Albemarle County VA real estate market report will focus on the sales of farms during March 2011.
Since Albemarle farms can run the gamut from a minifarm to a working Charlottesville farm, for the purpose of this report we will consider all property sales in Albemarle County of at least 10 acres.
March 2010 average list price $810,950.
March 2011 average list price $1,090,000.
March 2010 average sale price $687,500.
March 2011 average sale price $1,075,000.
March 2010 median sold price $662,500.
March 2011 median sold price $1,110,000.
March 2010 %sold/list 84.77%.
March 2011 %sold/list 98.62%.
1/1/2010 – 3/31/2010 farm sales – 10.
1/1/2011 – 3/31/2011 farm sales – 8.
As you can see the sales of Albemarle farms continue to be very slow. Today April 8, 2011 there are 135 Albemarle farms listed in the Albemarle County real estate market. At the rate of only 8 farms sold in the first quarter of 2011, it is obvious that activity will need to pick up considerably to sell down the inventory and get us back to a balanced market. However opportunities abound in the current market for buyers.
The above figures are from the mls and while they are presumed to be correct, they are not guaranteed.