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.

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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. 

Copyright 2012 by Pam Dent all rights reserved “Fluvanna County Real Estate Market Report – January 2012“.

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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.

Copyright 2012 by Pam Dent all rights reserved “Albemarle County Real Estate Market Report – January 2012“.

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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.

Copyright 2011 by Pam Dent all rights reserved “Charlottesville Farms Real Estate Market Report – 2011“.

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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.

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

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