Charlottesville Real Estate Talk

I have been asked by a reader for a compilation of my market reports for the past several years.  These are the reports that I wrote during 2008 examining the sales data for single family detached homes in Albemarle County VA during 2008.  Reports for 2009 and 2010 to date will follow.

June Albemarle County Market Report

July Albemarle County Market Report

August Albemarle County Market Report

September Albemarle County Market Report

October Albemarle County Market Report

November Albemarle County Market Report

December Albemarle County Market Report

This Albemarle County real estate market report focuses on the sales of single family detached homes during the month of January as compared with the two previous months.

For those of you who have been following my market reports, look closely at the graphs.  I have added a new field titled new for new homes that have come on the market during the particular month.   This has replaced the contingent field.  Hopefully this new field will provide you with some additional useful information.

In January 21 Albemarle County homes sold for an average price of $329,833.  The homes had been on the market for an average of 183 days and sold for an average of 96% of the list price.

During December 53 Albemarle County homes had contracts that closed.  The average sale price was $711,108.  They had been on the market for an average of 126 days and sold for an average of 94% of the list price.

63 Albemarle homes sold in November.  They sold for an average price of $393,361 after spending an average of 133 days on the market.  They sold for an average of 96% of the list price.

Today, February 1, 2010, there are 513 homes for sale in Albemarle County VA.  They are listed for an average of $1,010,863, the median is $450,000 and they have been on the market for an average of 191 days so far.

This year so far 21 homes have sold on the Albemarle County real estate market.  Compare this with the 22 homes sold during the same time frame last year.

As you can see from the graphs a lot of new listing s came on the market in January.  We still have a lot of inventory that needs to sell down before we can get to a balanced market.  In addition if we look at the median and average prices of the active listings on the market we can see that these are still quite a bit above the median price of the homes that are actually selling.

Information from the mls and while it is deemed correct is not guaranteed.

Contact Pam Dent, e-PRO, SRES, NHD, REALTOR®, Real Estate III, Charlottesville, Virginia at 434 960-0161 to buy a property in the following areas in Central Virginia: Charlottesville, Albemarle County, Keswick, Glenmore, Ivy, Crozet, Earlysville, Free Union, Cismont, Scottsville, Fluvanna County, Palmyra, Lake Monticello, Louisa County, Louisa, Mineral, Spring Creek, Orange County, Gordonsville, Orange, Barboursville, Greene County, Ruckersville.  Email Pam Dent.

View all of the Charlottesville Virginia homes for sale.

View my website Charlottesville Horse Farms or visit my other blog Charlottesville Horse Farms and Country Homes for more information on Charlottesville Virginia horse farms, homes, events and real estate. 

Copyright © 2009 by Pam Dent, all rights reserved, "Albemarle County VA Real Estate Market Report - January 2010".

This Albemarle County VA real estate market report focuses on the sales of single family detached homes during December 2009.

50 Albemarle County homes sold during December.  They sold for an average price of $713,277 after spending an average of 129 days on the market.  The homes sold for an average of 94.63% of the list price.

63 homes sold in Albemarle during November.  Their average sale price was $393,361.  They had an average DOM of 133 days and sold for an average of 95.54% of the list price.

37 Albemarle homes had contracts that closed in October.  The homes sold for an average of $450,786 and were on the market an average of 125 days.  They sold for an average of 89.81% of the list price.

Today, 1/2/2010, there are 488 Albemarle County homes for sale.  They are listed for an average of $1,142,349 and have a median of $462,450.  The homes have been on the market for an average of 207 days so far.

During 2009, 652 homes sold in the Albemarle County real estate market.  This marks a decline of in sales of 6.60% as compared with 2008.

The first 4 months of 2009 were particularly slow.  After that home sales began to rebound, ending with an comparatively strong November and December, two months that are historically slow.  Hopefully we will this momentum continue into the New Year.

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

Contact Pam Dent, e-PRO, SRES, NHD, REALTOR®, Real Estate III, Charlottesville, Virginia at 434 960-0161 to buy a property in the following areas in Central Virginia: Charlottesville, Albemarle County, Keswick, Glenmore, Ivy, Crozet, Earlysville, Free Union, Cismont, Scottsville, Fluvanna County, Palmyra, Lake Monticello, Louisa County, Louisa, Mineral, Spring Creek, Orange County, Gordonsville, Orange, Barboursville, Greene County, Ruckersville.  Email Pam Dent.

View all of the Charlottesville Virginia homes for sale.

View my website Charlottesville Horse Farms or visit my other blog Charlottesville Horse Farms and Country Homes for more information on Charlottesville Virginia horse farms, homes, events and real estate. 

Copyright © 2009 by Pam Dent, all rights reserved,  "Albemarle County Real Estate Market Report - December 2009".

Albemarle County VA real estate market report for October 2009.  Its the beginning of a new month and the perfect time to reflect on the activity in the local real estate market during the past month.  This report will focus on the sales of single family detached homes in Albemarle County.

In October 32 Albemarle County homes sold for an average sale price of $473,967 which was 89.25% of the list price.  The homes were on the market for an average of 120 days.

In September on 2009, 51 homes had contracts that closed in Albemarle County, with an average sale price of $402,281.  They sold for an average of 94.31% of the list price and had been on the market for an average of 116 days.

August saw the highest number of sales during the past three months with 74 Albemarle County homes having contracts that closed.  They sold for an average of $476,397 which was an average of 93.06% of the list price and were on the market for an average of 101 days.

Today there are 602 Albemarle County homes for sale.  They are listed for an average price of $603,404 and a median of $459,900.  They have been on the market for an average of 191 days so far.

If we compare this years sales to date with the same period in 2008, we will see that from 1/1/2009-11/1/2009 532 homes sold on the Albemarle County real estate market.  This represents a -12.1% decline in home sales from last year.

Historically we would not be surprised that the October Albemarle home sales were down from August and September as home sales moving into the holiday season and winter months usually slow down.  However this year I would have expected September and the first half of October to be particularly strong as the first time homebuyers took advantage of the rapidly expiring First Time Homebuyers Tax Credit.  There has been some talk about the possibility of an extension of the tax credit, but that still has a long way to go to get through Congress.  It is much too early to count on passage.

These figures are from the mls and while they are presumed correct are not guaranteed.

Contact Pam Dent, e-PRO, SRES, NHD, REALTOR®, Real Estate III, Charlottesville, Virginia at 434 960-0161 to buy a property in the following areas in Central Virginia: Charlottesville, Albemarle County, Keswick, Glenmore, Ivy, Crozet, Earlysville, Free Union, Cismont, Scottsville, Fluvanna County, Palmyra, Lake Monticello, Louisa County, Louisa, Mineral, Spring Creek, Orange County, Gordonsville, Orange, Barboursville, Greene County, Ruckersville.  Email Pam Dent.

View all of the Charlottesville Virginia homes for sale.

 View my website Charlottesville Horse Farms or visit my other blog Charlottesville Horse Farms and Country Homes for more information on Charlottesville Virginia horse farms, homes, events and real estate. 

Copyright © 2009 by Pam Dent, all rights reserved, "Albemarle County Real Estate Market Report - October 2009".