This Albemarle County VA real estate market report focuses on the sale of land during March 2011. This includes all raw land whether it is a building lot in a subdivision or a several hundred acre parcel of farm land.
March 2010 average list price $369,000.
March 2011 average list price $282,612.
March 2010 average sale price $337,500.
March 2011 average sale price $237,687.
March 2010 median sold price $300,000.
March 2011 median sold price $177,250.
March 2010 %sold/list 91.46%.
March 2011 %sold/list 84.10%.
1/1/2010 - 3/31/2010 parcels sold - 20.
1/1/2011 - 3/31/2011 parcels sold - 17.
As you can see Albemarle County land sales continue to be very slow. One contributing factor is the large number of resale homes that are on the market at very good prices. For many people it could be cheaper to purchase an existing home rather than building a new home. However, if you want to build your dream home there is a large selection of land on the market and you may be able to get a parcel at an excellent price.
The above figures are from the mls and while they are presumed correct they are not guaranteed.
