Market Reports Archives

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.

Fluvanna County VA Real Estate Market Report – May 2012

This Fluvanna County VA real estate market report will examine the sale of single family detached homes during May 2012.

May 2011 average list price $216,498.
May 2012 average list price $209,593.

May 2011 average sale price $199,725.
May 2012 average sale price $195,721.

May 2011 median sold price $180,000.
May 2012 median sold price $182,000.

May 2011 %sold/list 92.25%.
May 2012 %sold/list 93.38%.

May 2011, 26 Fluvanna County homes sold.
May 2012, 32 homes sold on the Fluvanna County real estate market.

Graph of Fluvanna County May Sales

1/1/2011 – 5/30/2011, 94 homes sold in Fluvanna County.
1/1/2012 – 5/30/2012, 122 Fluvanna County homes sold.

There is a lot to like about these numbers. While prices continue to fall, Fluvanna County home sales are up considerable this year. This May saw the largest number of home sales in one month since June 2010. In addition we are seeing a drop in inventory, although we have a ways to go before we can call it a balanced market. Like we are seeing across Central Virginia price continues to be one of the most important factors inflluencing which home are the ones to sell. Also these numbers have a lot to say about the price range of the homes that buyers are comfortable purchasing. Homes under $200,000 are the majority of the sales. Homes over $300,000 are particularly slow to sell.

If you are considering selling your Fluvanna County home, it is important to price your home correctly. Be sure to contact a real estate professional to get expert help with your home sale.

Charlottesville Real Estate Market Report – May 2012

This Charlottesville real estate market report will examine the sales of single family detached homes in the city of Charlottesville.

May 2011 average list price $399,592.
May 2012 average list price $326,951.

May 2011 average sale price $317,828.
May 2012 average sale price $316,986.

May 2011 median sold price $245,000.
May 2012 median sold price $293,250.

May 2011 %sold/list 93.59%.
May 2012 %sold/list 96.95%.

1/1/2011 – 5/30/2011, 91 Charlottesville homes sold.
1/1/2012 – 5/30/2012, 124 homes sold on the Charlottesville real estate market.

graph of Charlottesville sales and inventory

We have seen a welcome increase in sales over last year. However although May figures are reflecting an increase in the median sold price as compared with last year that is not true for the year to date. Overall we have seen a slight decline in the median sold price. In addition, as a result of the sales increase we have experienced a reduction in inventory.

Hopefully we will continue to see an improving Charlottesville real estate market throughout the year.

Albemarle County VA Market Report – May 2012

This Albemarle County VA market report will examine the sales of single family detached homes.

May 2011 average list price $393,781.
May 2012 average list price $406,292.

May 2011 average sale price $374,227.
May 2012 average sale price $396,145.

May 2011 median sold price $321,250.
May 2012 median sold price $340,000.

May 2011 %sold/list 95.03%.
May 2012 %sold/list 97.5%.

1/1/2011 – 5/30/2011, 300 Albemarle County homes sold.
1/1/2012 – 5/30/2012, 322 Albemarle County homes sold.

The May figures are very encouraging. Most of us have been experiencing the increase in real estate activity this year, particularly in Albemarle County. The figures show the median sold price up over May of last year, but we should look at those figures with caution. It is still a buyer’s market and the well priced homes are the ones that are selling.

Graph of Albemarle County Home Sales

If you would like to find out how your home should be priced in today’s changing real estate market, I would be happy to give you a market analysis.
What is my home worth?

Charlottesville First Quarter Market Report

The Charlottesville Area Association of Realtors First Quarter Real Estate Market Report is hot off the presses. This report will give you a brief overview of what has been happening in Central Virginia real estate so far this year. As you will see it is a mixture of good and bad news. The good news is that there has been an increase in sales by 9.2% over the first quarter of 2011. The bad news is that the median sales price has fallen by 2.9% as compared with the same period last year. We have seen some highlights for the month of March with an increase in sales, median sales price and also an increase in homes that are under contract. I know that I have been experiencing an increase in business and have a positive feeling for the year overall.

According to the report, inventory is trending down into a 12 month supply. While any reduction in inventory is a good sign, it is necessary to remember that we are still strongly in a buyers market and it is crucial to price your home properly in order to get it sold. A 6 month supply is considered a balanced market and it will have to fall to under 6 months before we will be in a seller’s market.

CAAR First Quarter Market Report

If you have any questions about the local real estate market or what this means for the sale of your particular home, don’t hesitate to call me at 434 960-0161 or email me at pam@pamdent.com.

Fluvanna County Real Estate Market Report – January 2011

This Fluvanna County real estate market report will focus on the sale of single family detached homes.

January 2011 average list price $267,075.
January 2012 average list price $273,787.

January 2011 average sale price $261,191.
January 2012 average sale price $257,548.

January 2011 median sold price $210,000.
January 2012 median sold price $276,850.

January 2011 %sold/list 97.79%.
January 2012 %sold/list 94.06%.

January 2011, 12 Fluvanna County homes sold.
January 2012, 18 homes sold in Fluvanna County.

Over the past 12 months 262 homes sold on the Fluvanna County real estate market; however last year 276 Fluvanna homes sold, so sales have been down during the past year. So far this year much of the greater Charlottesville market has seen an increase in activity, but I have not seen it to the same extent in the Fluvanna County market. I am hopeful that future months will see an upward trend in Fluvanna County.

Albemarle County Real Estate Market Report – January 2012

This Albemarle County real estate market report examines the sales of single family detached homes.

January 2011 average list price $590,225.
January 2012 average list price $417,895.

January 2011 average sale price $535,102.
January 2012 average sale price $398,103.

January 2011 median sold price $302,500.
January 2012 median sold price $319,900.

January 2011 %sold/list 90.66%.
January 2012 %sold/list 95.26%.

January 2011, 42 homes sold.
January 2012, 35 homes sold.

As we can see fewer homes had contracts that closed in January of 2011 than 2012. However going forward it is important to look at the big increase in the new pendings. This reflects the increased market activity that we have been experiencing in the Albemarle County real estate market.

The above figures are from the mls and while they are presumed to be correct they are not guaranteed.

Charlottesville Farms Real Estate Market Report – 2011

This post will examine the sales of Charlottesville farms over the past year. For the purpose of this report we will consider properties over 15 acres.

2010 average list price $1,887,107.
2011 average list price $1,439,348.

2010 average sale price $1,663,847.
2011 average sale price $1,286,576.

2010 median sold price $1,112,500.
2011 median sold price $750,000.

2010 average continuous days on market 361.
2011 average continuous days on market 243.

2010 %sold/list 88.16%.
2011 %sold/list 89.38%.

2010 months inventory 47.07.
2011 months inventory 32.52.

In 2010, 26 Charlottesville farms sold.
In 2011, 38 Charlottesville farms sold.

2011 Year End Sales and Inventory Charlottesville Farms

There is a lot to like in these numbers. Obviously we still have way too many months inventory, but we are trending in the right direction. One of the other figures to compare is the difference in the median sold price between the two days. This could tell us that prices are down which we know is the case across the board in real estate, but it may be more of an indicator of the price range that is selling. Purchasers are looking for value right now and buyers of Charlottesville farms are no exception.

Albemarle County VA Real Estate Market Report – November 2011

This Albemarle County real estate market report will focus on the sale of single family detached homes. We will look at the November real estate activity and see how it compares with the activity over the past two years.

As we look at the total sales figures from this year so far compared with 2010 we will see that there is little difference. This years sales total is up very sllightly and prices are generally down. Month to month we have seen a volatile market that has gone up and down following the economic and political news. We still need to see a significant reduction in inventory so that we can reach a balanced market.

Greene County VA Real Estate Market Report – November 2011

This Greene County real estate market report will examine the sales of single family detached homes during November 2011. We will also look at data on how the Greene County real estate market has performed over the past two years.

When you compare this year so far to the previous year we can see that the Greene County real estate market has remained fairly stable; however month to month it has been a bit of a roller coaster as buying activity has reacted to the volatile ecconomic climate. Prices are down for the year as a whole as are sales totals, but not dramatically. Unfortunately inventory amounts also remain fairly stable, which means that we remain firmly in a sellers market. We will need to see a pickup in sales to buy down inventory to a 6 month inventory level before Greene County real estate will enter a balanced market. This is pretty much what we are seeing throughout Central Virginia.

Albemarle County Real Estate Market News

Fluvanna County VA Real Estate Market Report – May 2012

Fluvanna County VA Real Estate Market Report – May 2012

Charlottesville Real Estate Market Report – May 2012

Charlottesville Real Estate Market Report – May 2012

Albemarle County VA Market Report – May 2012

Albemarle County VA Market Report – May 2012

Charlottesville First Quarter Market Report

Fluvanna County Real Estate Market Report – January 2011

Fluvanna County Real Estate Market Report – January 2011

Albemarle County Real Estate Market Report – January 2012

Albemarle County Real Estate Market Report – January 2012

Charlottesville Farms Real Estate Market Report – 2011

Albemarle County VA Real Estate Market Report – November 2011

Albemarle County VA Real Estate Market Report – November 2011

Greene County VA Real Estate Market Report – November 2011

Greene County VA Real Estate Market Report – November 2011

Areas of Expertise

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Fluvanna County VA Real Estate Market Report – May 2012

Charlottesville Real Estate Market Report – May 2012

Albemarle County VA Market Report – May 2012

Fluvanna County Real Estate Market Report – January 2011

Albemarle County Real Estate Market Report – January 2012

Albemarle County VA Real Estate Market Report – November 2011

Greene County VA Real Estate Market Report – November 2011

Areas of Expertise

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Contact Pam