Charlottesville Real Estate Talk

Charlottesville VA Real Estate Market Report - August 2011

This Charlottesville VA real estate market report examines the sales of single family detached homes in the city of Charlottesville.

August 2010 average list price $374,466.
August 2011 average list price $381,601.

August 2010 average sale price $355,163.
August 2011 average sale price $347,421.

August 2010 median sold price $303,450.
August 2011 median sold price $295,000.

August 2010 %sold/list 94.84%.
August 2011 %sold/list 91.04%.

1/1/2010 - 8/31/2010, 191 Charlottesville homes sold. 
1/1/2011 - 8/31/2011, 191 homes sold on the Charlottesville real estate market. 

We can see that the sales of single family detached homes in the city of Charlottesville have remainded flat as compared with 2010 for the year to date.  The median sale price in the Charlottesville real estate market  has gone down as compared with last year, but on a good note inventory has gone down as well.  We can also see from the pending sales that the summer real estate activity in July and August has not been as strong as it was in June.  However this is not unexpected.  July and August are vacation months for many people.  Now that school has started I hope that we will see an increase in sales for September and October.  

The above figures are from the mls and while they are presumed 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.

Licensed to sell real estate in Virginia.

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 2011 all rights reserved by Pam Dent "Charlottesville VA Real Estate Market Report - August 2011".  Written by Pam Dent.

This Charlottesville VA real estate market report examines the sale of attached homes and townhouses in the city of Charlottesville and Albemarel County during January 2011.

January 2010 average list price $250,554.
January 2011 average list price $200,445.

January 2010 average sale price $247,420.
January 2011 average sale price $191,284.

January 2010 median sold price $249,050.
January 2011 median sold price $195,570.

January 2010 %sold/list 98.74%.
January 2011 %sold/list 95.42%.

January 2010 homes sold - 17.
January 2011 homes sold - 16.

The sales of Charlottesville townhouses was down almost 25% in 2010 from 2009 sales.  We have also seen a decline in prices as the above figures show.  Remember these are the prices that buyers are willing to pay; it is not necessarily a corresponding decline in your home's value, although market vallue has definately gone down.  The good news is that inventory has gone down too.  By the January rate of sales and number of homes on the market there is 8.06 months of inventory on the market. 

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

This Charlottesville VA real estate market report is looking at the sales of condominiums in Charlottesville and Albemarle County during December 2009.

10 Charlottesville condos sold in December.  They sold for an average price of $212,940 after being on the market for an average of 116 days.  The homes sold for an average of 96.24% of the list price.

7 comdominiums in Charlottesville sold in November.  The average sale price was $146,486 with an average DOM of 155.  They sold for an average of 96.80% of the list price.

16 Charlottesville VA condominiums had contracts that closed in October.  Their average sale price was $159,416 and they were on the market for an average of 122 days.  The condos sold for an average of 91.15% of the list price.

Today 1/12/2010 there are 189 Charlottesville VA condominiums for sale.  The homes are listed for an average of $249,699 with a median of $192,792.  The condos have been on the market for an average of 251 days so far.

In 2009, 146 condominiums sold on the Charlottesville real estate market.  This is a 31.43% decline in sales compared with 2009.

The Charlottesville condominium market continues to be the hardest hit portion of the local real estate market.  At the December rate of sales there is 27.43 months of inventory on the Charlottesville condo market.  This segment of the market is going to continue to have difficulties until it becomes easier to obtain financing for condominium purchases.  At this time mortgage regulations on condo purchases continue to be tight.

The above figures are from the mls and while they are assumed to be correct they 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, "Charlottesville VA Real Estate Market Report Condominiums - December 2009".

This Charlottesville VA real estate market report examines the sale of condominiums in Charlottesville and Albemarle County during October 2009.

15 Charlottesville condos sold during October for an average price of $160,377.  They were on the market for an average of 118 days and sold for an average of 91.01% of the list price.

During September 13 condos sold in Charlottesville-Albemarle.  They sold for an average price of $273,727 and had been on the market for an average of 72 days.  They sold for an average of 86.95% of the list price.

17 Charlottesville condominiums had contracts that closed during August.  Their average sale price was $196,941 with an average DOM of 115.  The condos sold for an average of 94.30% of the list price.

Today 11/12/2009 there are 208 Charlottesville VA condos for sale for an average price of $238,401 and a median of $189,000.  They have been on the market for an average of 221 daysso far.

From 1/1/2009-11/1/2009, 129 condominiums sold on the Charlottesville VA real estate market.  This represents a -34.5% decline in sales as compared with the same time period in 2008.

The Charlottesville condominium market continues to remain the most depressed sector of the Central Virginia real estate market.  One of the factors that impacts this is the difficulty in obtaining financing for purchasing a condo in many of the condo projects.  Many of the condos in Charlottesville and Albemarle County are student occupied and many of these are also investor owned.  A purchase in one of these projects is very difficult to obtaining financing for.  I do know of a mortgage company that will write investor loans for many of these hard to finance condos.

The above figures are from the mls and while they are deemed 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, "Charlottesville Real Estate Market Report Condominiums - October 2009".

This Charlottesville VA real estate market report will look at the sales of single family detached homes within the city limits of Charlottesville during the month of September.  We will see how the September sales compare with the previous two months and also what has happened in the year to date.

21 Charlottesville homes had contracts that closed in September 2009.  They sold for an average price of $307,010 which was an average of 97.28% of the list price.  The homes had been on the market for an average of 79 days before going under contract.

In August 2009, 25 Charlottesville VA homes sold for an average price of $340,642.  They had been on the market for an average of 101 days and sold for an average of 97.61% of the list price.

July saw the greatest number of home sales with 51 Charlottesville homes selling.  They sold for an average price of $296,652 which was an average of 95.14% of the list price.  The average DOM was 81.

Today, 10/4/2009 there are 186 Charlottesville VA homes for sale.  They are listed at an average price of $358,569 with a median of $299,900 and have been on the market for an average of 163 days so far.

To look at the bigger picture we will compare the year to date figures from this year and 2008.  From 1/1/2008-10/2/1008, 301 homes sold on the Charlottesville VA real estate market, but during the same time frame this year only 231 Charlottesville homes have sold.  This represents a decline in sales of          -23.3%.

it is not unusual to see home sales drop off in August, but I would have hoped for a bigger boost to the Charlottesville real estate market from first time homebuyers purchasing homes before the $8,000 tax credit runs out.  They will only have until October 15 to get a home under contract if they want to have a good chance to be able to close before the November 30 deadline.  I am afraid that many of them do not realize that the home must be closed by November 30 and more importantly they do not understand how long it takes to get a home to close.  In todays market it is taking about 45-60 days to get a home from contract to closing.  We are seeing FHA and VA loans take longer than conventional loans.  So if you are a first time homebuyer the clock is ticking!

The above figures are from the mls and while they are deemed correct, they 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, "Charlottesville VA Real Estate Market Report - September 2009".