Albemarle County VA Farms Real Estate Market Report – July 2011

Albemarle County farms and equestrian properties come in a variety of sizes.  For the purpose of this report we will consider a property a farm if it contains at least 10 acres.  This post will examine the sales of Albemarle farms during the month of July.

July 2010 average list price $1,184,975.
July 2011 average list price $460,000.

July 2010 average sale price $1,057,750.
July 2011 average sale price $422,500.

July 2010 median sold price $1,237,500.
July 2011 median sold price $422,500.

July 2010 %sold/list 89.26%.
July 2011 %sold/list 91.84%.

July 2010 average continuous days on market 291.
July 2011 average continuous days on market 209.

1/1/2010 – 7/31/2010, 26 Albemarle County farms sold.
1/1/2011 – 7/31/2011, 25 farms sold on the Albemarle County Real Estate Market.

As of today 8/5/2011 there are 147 Albemarle County farms for sale.  The farms range in price from $189,900 to $16,000,000.  At the current rate of sales it will be several years before the inventory is sold down.  With this number of farms for sale, you can see how crucial it is to price your farm correctly and make sure that it is in the best possible condition to ensure that it is the one that sells.

The above figures are from the mls and while they are deemed correct, they are not guaranteed.

Copyright 2011 by Pam Dent, all rights reserved “Albemarle County VA Farms Real Estate Market Report – July 2011“.