Charlottesville Real Estate Talk

This Albemarle County real estate market report for April 2009 will focus on the sales of single family detached homes.

We are bombarded on television with national real estate news, but as you know all real estate is local and what is true for one part of the country is not necessarily the case for another.  This is the first in a series of posts designed to examine what has happened during the past month in the various Central Virginia real estate market.

During the month of April 2009, 32 Albemarle County homes sold for an average sale price of $378,384.00.  The homes were on the market for an average of 119 days and sold for an average of 95.76% of the list price.

In comparison 37 homes had contracts that closed in Albemarle County during the month of March.  The average sale price was $576,340.  They had been on the market for an average of 142 days and sold for an average of 96.56% of the list price.

There are currently 710 Albemarle County homes for sale listed in the CAAR mls.  The average list price is $936,748, with a median of $479,000 and an average DOM of 151.

Let's also compare the statistics of the Albemarle County home sales for this year to date with the sales from the sale period in 2008.  During the time frame from 1/1/2008-5/1/2008, 183 homes sold in Albemarle County.  In the same time fram this year 123 Albemarle County homes sold.  This represents a decline in sales of -32.8%.

 If you would like to know how these figures would relate to your home sale or purchase, I would be happy to talk with you.

The Albemarle County real estate market is changing daily and I am happy to make sure that you have up to date information.

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

Charlottesville Virginia Real Estate Market Report - April 2009

Charlottesville VA Real Estate Market Report Condos - April 2009

Charlottesville VA Real Estate Market Report Attached Homes - April 2009

Fluvanna County Real Estate Market Report - April 2009

Louisa VA Real Estate Market Report - April 2009

Greene County VA Real Estate Market Report - April 2009

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, Troy, Palmyra, Lake Monticello, Louisa County, Louisa, Mineral, Spring Creek, Orange County, Gordonsville, Orange, Barboursville, Greene County, Ruckersville.

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 - April 2009".

First published on Charlottesville Real Estate Talk.

This market report will look at the sales of detatched homes in Albemarle County, Virginia during January 2009.  Albemarle County surrounds the city of Charlottesville, Virginia.

In January 2009, 30 Albemarle County homes had contingent contracts.  The average list price was $500,047 and the median was $328,500.  The homes were on the market for an average of 178 days.

8 homes had contracts pending.  The average list price was $662,734 and the median was $432,400 with a DOM of 137 days.

17 Albemarle homes sold during January of 2009.  The sale price was $497,253.  The homes had been listed for an average of $515,480 with a median of $359,900.  The homes were on the market for an average of 132 days and sold for an average of 96.46% of the list price.

There are currently 577 homes actively listed in Albemarle County.  The average list price is $983,435 and the median is $499,000 with an average DOM of 188 days.

Lets see how this compares with the real estate activity in December.

In December 2008, 21 Albemarle County homes had contingent contracts.  The average list price was $496,218 and the median was $339,000 with an average DOM of 107 days.

18 homes had contracts pending.  They had been listed for an average list price of $418,545 with a median of $310,884.  They were on the market for an average of 113 days.

In December 2008, 46 homes in Albemarle County had contracts that closed.  They sold for an average price of $570,811.  The homes had been listed for an average price of $604,461 and the median was $409,250.  The homes were on the market for an average of 118 days and sold for an average of 94.43% of the list price.

Let's also look at the figures from a year ago.

In January 2008, 40 homes sold in Albemarle County.  They average sale price was $502,241, with an average list price of $531,459 and a median of $387,000.  The homes were on the market for an average of 137 days and sold for an average of 94.5% of the list price.

As you can see from these figures, the Albemarle County real estate market continues to be slow.  There is a lot of inventory on the market that will have to sell down before we see a return to a stable market.  The winter is traditionally a slow season and hopefully we will see a pick up in activity with the spring market.  It is still very much a buyers market with a lot to choose from, opportunities to find good buys and very low interest rates.

Figures are from the mls and while deemed correct are not guaranteed.

Contact Pam Dent, e-PRO, SRES, NHD, REALTOR®, Real Estate III, Charlottesville, Virginia at  434 960-0161 , pam@JumpintoGreenerPastures.com, to list your property for sale or 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, Troy, Palmyra, Lake Monticello, Louisa County, Louisa, Mineral, Spring Creek, Orange County, Gordonsville, Orange, Barboursville, Greene County, Ruckersville.

To view all of the Charlottesville, Virginia and Central Virginia Homes for Sale click here and click on the mls search button.

Visit my website  Jump into Greener Pastures or read my other blog Charlottesville Horse Farms and Country Homes for more information on Charlottesville homes, horse farms, events and real estate.

.

This market report will cover sales of detached single family homes in Albemarle County, Virginia.

In December 2008, 21 homes in Albemarle County had contingent contracts.  The average list price was $496,218 and the median was $339,000.  The homes were on the market for an average of 107 days.

9 Albemarle homes had contracts pending with an average list price of $393,735, a median of $321,868 and an average DOM of 68.

41 Albemarle County homes sold in December 2008.  The average sale price was $600,136.  The average list price was $636,457 and the median was $437,500.  The homes had been on the market for an average of 126 days and sold for an average of 94.29% of the list price.

There are currently 587 homes actively listed on the Albemarle County market.  The average list price is $996,442 with a median of $499,950.  The homes have been on the market for an average of 208 days.

Lets see how this compares with the home sales in November of 2008.

32 Albemarle homes had contingent contracts in November 2008.  The average list price was $475,119 with a median of $419,700.  The homes were on the market an average of 151 days.

26 homes had contracts pending.  Their average list price was $491,583 and the median was $398,700.  The average DOM was 175.

In November 2008, 27 Albemarle County homes sold.  The average sale price was $632,774 and the average list price was $691,643.  The median was $329,500 and the homes were on the market for an average of 125 days.  The homes sold for an average of 91.49% of the list price.

To compare further we will consider the home sales from last year.

In December 2007, 46 homes sold in Albemarle County.  The average sale price was $512,226 and the average list price was $537,153.  The median was $424,398 with an average DOM of 119.  The homes sold for an average of 95.36% of the list price.

We should also compare the overall figures for 2007 and 2008.

In 2007 in Albemarle County 866 homes sold for an average sale price of $494,924.  The average list price was $514,964 and the homes sold for an average of 96.11% of the list price.  In 2007 there was an average of 10.83 months of inventory on the market.

In 2008 in Albemarle County 657 homes sold.  The average sale price was $522,491 and the average list price was $556,417.  The homes sold for an average of 93.90% of the list price and the average DOM was 121.3.  There was an average of 14.67 months of inventory on the market.

This represents a decline in sales of 24.14% from 2007.  In addition you can see that homes are staying on the market longer and are also selling for a lower percentage of the list price.  However, unlike what we would expect the average sale and list prices have gone up. 

If you would like more information on the local real estate market and insite on how this might affect your home, either call or email me and I would be happy to speak with you.

Contact Pam Dent, e-PRO, SRES, NHD, REALTOR®, Real Estate III, Charlottesville, Virginia at  434 960-0161 , pam@JumpintoGreenerPastures.com, to list your property for sale or 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, Troy, Palmyra, Lake Monticello, Louisa County, Louisa, Mineral, Spring Creek, Orange County, Gordonsville, Orange, Barboursville, Greene County, Ruckersville.

  To view all of the Charlottesville, Virginia and Central Virginia Homes for Sale click here and click on the mls search button.

 Visit my website  Jump into Greener Pastures or read my other blog Charlottesville Horse Farms and Country Homes for more information on Central Virginia homes, events and real estate.

The following is the July real estate market report for sales of condos and attached homes in Albemarle County, Virginia.

In July 24 condos and attached homes were under contingent contract with an average list price of $221,967 and a median price of $199,687.  The homes were on the market an average of 102 days.

7 homes were under a pending contract at an average list price of $222,864 and a median price of $214,948 and were on the market an average of 89 days.

In July the market saw 34 sales of condos and attached homes .  These homes had an average list price of $231,836 and an average sold price of $223,036.  The median price was $213,450 and the average days on market was 80.  The sale price to list price ratio was 96.20%.

There are 319 condos and townhomes actively on the market at this time with an average list price of $259,692 and a median price of $229,950.

To compare 51 condos and attached homes sold in June in Albemarle County with an average sales price to list price ratio of 97.87%.

As you can see from these figures, it is still a very good time to buy in Albemarle County.

Information from CAAR MLS, deened correct but not guaranteed.

Click here to search all of the condos and townhomes on the market in Albemarle County.

Pam Dent, e-PRO, SRES
Real Estate III
Charlottesville, Virginia
434 960-0161
Jump into Greener Pastures
Charlottesville Horse Farms and Country Homes

In the Charlottesville, Virginia area we still have a buyer's market.  The number of homes sold in July of 2008 is down in comparison with the number of homes sold in July of 2007.  The following is the market report of the sales of detached homes in July for Albemarle County.

In July of 2008 64 homes were under contingent contract for an average list price of $433,469, a median price of $391,700 and an average days on market of 116.
There were 16 homes pending at an average price of $451,513, a median price of $489,500 and 11 days on the market.
77 homes sold in July for an average sales price of $521,194, and a median price of $438,000 after an average of 134 days on the market.  These homes sold for an average of 93.75% of the list price.
At this time there are 708 detached homes actively on the Albemarle County, Virginia real estate market.  The average list price is $983,820, with a median price of 498,750 and they have been on the market an average of 160 days.

In July of 2007 we saw 60 homes go under contingent contract with an average list price of $542,466 and a median price of $471,700.  The average days on market was 107.
There were 42 homes pending at an average list price of $609,414, a median price of $482,475 and an average days on market of 109.
99 homes sold for an average list price of $513,445, a median price of $399,900, and an average days of market of 84.  The sale price is an average of 96.07 of the list price.

Sales are continuing to be slow, and inventory is high providing buyers with a lot of choices.  It is a great time to buy.

Information from CAAR MLS, deemed correct but not guaranteed.

If you would like to search all of the homes for sale in the Charlottesville area click here.

Please contact me if you have questions about the Charlottesville, Virginia real estate market.  If you are buying or selling let me put my local knowledge and attention to detail to work for you.

Pam Dent, e-PRO, SRES
Real Estate III
Charlottesville, Virginia
   434 960-0161   
Jump into Greener Pastures
Charlottesville Horse Farms and Country Homes