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 Real Estate Update – Its Time To Change Our Perception

For the last few years we have had a lot of inventory and homes have been taking a long time to sell.  Buyers have had the mindset that homes stay on the market for a long time.  They are used to thinking that there is no need to make a decision, because that home is not going anywhere.  There has been the feeling that if they wait long enough the price will be reduced again or a better home at a better price may come on the market.  There has been no sense of urgency to buy.

Well, its time for a new way of thinking.  The “times they are a changing”.  Starting in January the Charlottesville real estate market has seen a major increase in activity.  We have seen a big increase both in people out looking at homes and in contracts being written.  The last five contracts that I have written have all either had multiple offers, or another offer that came in within hours of the first being accepted.  This is especially true for Albemarle County.  No longer can a purchaser drag their feet and expect that well priced home in good condition to stick around. 

Its a great time to look at Charlottesville homes for sale, there is still a lot of inventory to choose from, prices are down and interest rates are still low.  But more homes are selling and there is competition for the best ones.  When you find the one you like, it is important to move quickly or you may lose it.

Copyright 2011 by Pam Dent all rights reserved “Charlottesville Real Estate Update – Its Time To Change Our Perception“.

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1939 Browns Gap TPKE Charlottesville VA – Investor Opportunity

1939 Browns Gap Turnpike, Charlottesville VA home for sale.  $120,000.00

 1 bedroom, 1 bath, 1080 sq ft, living room, kitchen, greatroom, den, home office, screened porch.

This home on a landscaped lot is located in Albemarle County close to Crozet and Charlottesville.  At this affrodable price the darling bungalow is perfect for investors or first time homeowners.

Cpoyright all rights reserved by Pam Dent “1939 Browns Gap TPKE Charlottesville VA – Investor Opportunity“.

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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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