Charlottesville VA Real Estate Market Report Condominiums - July 2011
This Charlottesville VA real estate market report will examine the sales of condominiums in the city of Charlottesville and in the surrounding county of Albemarle.
July 2010 average list price $267,172.
July 2011 average list price $147,219.
July 2010 average sale price $258,161.
July 2011 average sale price $136,386.
July 2010 median sold price $165,200.
July 2011 median sold price $138,000.
July 2010 %sold/list 96.62%.
July 2011 %sold/list 92.64%.
1/1/2010 - 7/31/2010, 116 Charlottesville condos sold
1/1/2011 - 7/31/2011, 130 condominiums sold on the Charlottessville real estate market.
Condominium sales are one of the few areas of the Charlottesville real estate market that showed an increase over last year during June and July. Upon a closer observation of the June and July sales figures, one of the facts that stands out is the large number of developer units that were offered at several condominium complexes at very attractive prices. I would not be surprised if a number of these units were picked up by investors. Also a number of the sales were in condominium communities where the developer/seller was able to find a source of financing. Unfortunately we still have a several condo communities that do not qualify for financing (non warrantable condos) and units from those communities need to be priced very aggressively to make them attractive to an investor with cash.
The above figures are from the mls and while they are presumed to be correct, they are not guaranteed.
Contact Pam Dent, e-PRO, SRES, SFR, President Blue Ridge Chapter Women's Council of Realtors, Montague Miller & Company, 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.
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Copyright 2011 by Pam Dent, all rights reserved "Charlottesville VA Real Estate Market Report Condominiums - July 2011".