Charlottesville Real Estate Talk

Albemarle County VA Real Estate Market Report - April 2011

This Albemarle County market report will focus on the sales of single family detached homes during April 2011.

April 2010 average list price $541,687.
April 2011 average list price $577,102.

April 2010 average sale price $508,630.
April 2011 average sale price $549,484.

April 2010 median sold price $364,000.
April 2011 median sold price $409,000.

April 2010 %sold/list 93.89%.
April 2011 %sold/list 95.21%.

1/1/2010 - 4/30/2010 homes sold 173.
1/1/2011 - 4/30/2011 homes sold 198.

 

The graphs show the typical pattern of new homes coming on the Albemarle County real estate market in preparation for the spring real estate market.  Spring is historically the strongest sales time in our local market.  As you can see the largest number of new listings come on in March.  Many sellers are anxious to get their home listed by the first of April.  However a lot of homes are still coming on the market in April.  You can also see the steady increase in both pendings and properties going under contract over the past several months.  The downside is the fact that there is still too much inventory on the market.  Even though sales have increased over the past several months it is nnot enough to begin to bring us back to a balanced market.  At the April level of sales there is still 9.95 months of inventory in Albemarle County.  In April we have also seen an increase in the price point numbers.  However the sold prices have been lower this year as compared with 2010, so we will have to watch over the next several months to see if this is a trend or simply an aberation.

There are many reasons why this is a good time to buy: low interest rates, many homes that are priced competitively and a lot of inventory to choose from.  It will be interesting to see when the Albemarle County real estate market reaches the tipping point and sales increase enough to buy down the inventory.

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

Copyright 2011 by Pam Dent all rights reserved "Albemarle County VA Real Estate Market Report - April 2011". 

This Albemarle County VA real estate market report examines the sale of single family detached homes during March 2011.

March 2010 average list price $551,023.
March 2011 average list price $462,362.

March 2010 average sale price $511,945.
March 2011 average sale price $437,542.

March 2010 median sold price $409,000.
March 2011 median sold price $338,500.

March 2010 %sold/list 92.90%.
March 2011 %sold/list 94.63%.

1/1/2010 - 3/31/2010 homes sold - 108.
1/1/2011 - 3/31/2011 homes sold - 122.

 As you can see from the graphs, we have a lot of new listings coming on the market in preparation for spring.  We can also see that sales have been flat over the past three months.  However the pendings were up in March wich should translate into an uptick in sold numbers for April.

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

 

This Albemarle County VA real estate market report focuses on the sales of single family detached homes during November 2009.  As the year draws to a close it is interesting to continue our examination of the local real estate market as it slowly rebounds.

During the month of November 51 homes sold in Albemarle County.  The average sale price was $396,262 after an average of 143 days on the market.  The homes sold for an average of 95.26% of the list price.

In October 37 Albemarle homes had contracts that closed for an average sale price of $450,786.  The homes had an average DOM of 125 and sold for an average of 89.81% of the list price.

52 Albemarle County homes sold in September.  They sold for an average price of $399,352.  The homes had been on the market for an average of 115 days and sold for an average of 94.33% of the list price.

As of December 1, 2009 there were 551 Albemarle County homes for sale.  Tha average list price is $1,083,869 with a median of $459,900.  The homes have been on the market for an average of 195 days so far.

During the period from 1/1/2009-12/1/2009, 589 homes sold on the Albemarle County VA real estate market.  This represents a decline of -7.1% from the same time frame during 2008.

The Albemarle County real estate market has been seeing an active fall season.  Much of this is probably the result of first time homebuyers hurrying to buy a home before the $8,000 First Time Homebuyer Tax Credit expired on November 30.  Now that the tax credit has been extended into the spring of 2010 with an accompaning $6,500 credit for existing home buyers, we can be hopeful for a continuing recovery through the normally slow winter months.  Of course we still have a ways to go in the recovery process.  At the current rate of sales we have almost 12 months of inventory on the market.  It is still important for sellers to price their homes agressively and to present those homes in the best possible condition as there are a lot of competing listings.

The above figures are from the mls and while they are presumed to be 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 VA Real Estate Market Report - November 2009". 

This Albemarle County Real Estate Market Report for March 2009 examines the sales of detatched single family homes in Albemarle County Virginia.  Albemarle is the county surrounding the city of Charlottesville and is located in Central Virginia nestled in the foothills of the Blue Ridge Mountains.

In March 2009 there was a slight increase in Albemarle County home sales over the past two months.  32 Albemarle County homes sold for an average sale price of $595,764.  The homes had been listed for an average of $617,783 and were on the market for an average of 157 days.  These Albemarle homes sold for an average of 96.44% of the list price.

Lets compare this with the sales in the Albemarle County real estate market during February 2009.  28 Albemarle County homes sold for an average sale price of $495,470.  They had been listed at an average list price of $539,092 and were on the market for an average of 140 days.  These homes sold for an average of 91.91% of the list price.

 

 

 

 

 

 

 

 

Currently there are 653 Albemarle County homes for sale.  The average list price is $953,516 and the median is $459,950.  These homes have been on the market for an average of 158 days so far.

This year to date 82 Albemarle County homes have sold.  During the same period in 2008 (1/1/2008-4/1/2008) 126 homes sold in the Albemarle County real estate market.  This translates to a decline in Albemarle County home sales of -34.9%.

The above graph compares the sales of Albemarle homes during the beginning of the year in 2008 and 2009 by price point.

The above figures are courtesy of the CAAR mls and while they are deemed correct are not guaranteed.

 

Charlottesville Virginia Real Estate Market Report - March 2009

Charlottesville Virginia Real Estate Market Report Condominiums - March 2009

Fluvanna county Real Estate Market Report - March 2009

Louisa County Real Estate Market Report - March 2009

Central Virginia Real Estate Market Reports - February 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 - March 2009".

First published on Charlottesville Real Estate Talk.