Charlottesville Real Estate Talk

Albemarle County VA Real Estate Market Report - May 2011

This Albemarle County VA real estate market report will examine the sales of single family detached homes during May 2011.

May 2010 average list price $372,790.
May 2011 average list price $383,001.

May 2010 average sale price $356,689.
May 2011 average sale price $362,923.

May 2010 median sold price $326,500.
May 2011 median sold price $315,000.

May 2010 %sold/list 95.68%.
May 2011 %sold/list 94.75%.

1/1/2010 - 5/31/2010, 257 homes sold on the Albemarle County real estate market.
1/1/2011 - 5/31/2011, 284 Albemarle County homes sold.

As you can see, sales are up overall from the same time period last year, but median home prices are down.  Prices are predicted to continue to fall throughout 2011, so if you have a home to sell it would be a good idea to put it on the market now rather than waiting.  If you are thinking of purchasing a home this year, there is a lot of inventory to select from and many home on the Albemarle County real estate market are at very good prices.  You might think that it would be a good idea to wait to buy hoping  prices will drop further, but that could be a risky move.  Even if prices do drop, if interest rates go up your monthly payments would end up higher.  If you would like to see how these numbers break down, your real estate agent or mortgage professional will be able to show you.

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

This Albemarle County VA real estate market report will look at the sales of single family detached homes during January 2011.

January 2010 average list price $342,109.
January 2011 average list price $471,878.

January 2010 average sale price $315,251.
January 2011 average sale price $428,985.

January 2010 median sold price $248,647.
January 2011 median sold price $225,000.

January 2010 %sold/list 92.14%.
January 2011 %sold/list 90.91%.

January 2010 homes sold 50.
January 2011 homes sold 54.

If we look at the graph we can see from the pending sales that Albemarle County home sales are fairly stable.  January closings are down as wood be expected since it is only natural that fewer contracts would have been written during the December holiday season.  As I have been talking to other Realtors in my company this week I am hearing reports of increased attendance at open houses and an increase in buyer inquiries.  It will be interesting to see if this activity translates into an increase in sales. 

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

Does your Albemarle County horse farm have staff?

Shadowfax LLC, an Albemarle County horse farm has staff of the four legged variety.  Like many Virginia horse farms they have several Jack Russel Terriers.  These little guys are constantly on the alert patrolling for mice and supervising everything that is going on.

No Albemarle farm is complete without at least one feline mousetrap and usually there is an entire regiment.

Below you will meet Simon, Stella, and Heathcliff.

This Albemarle County VA real estate market report focuses on the sales of single family detached homes during May 2010.

May 2009 average list price $454,678
May 2010 average list price $380,771

May 2009 average sale price $427,751
May 2010 average sale price $363,747

May 2009 median sold price $344,000
May 2010 median sold price $326,500

May 2009 homes sold for an average of 94.07% of the list price
May 2010 homes sold for an average of 95.52% of the list price

This year from 1/1/2010 - 5/31/2010, 244 homes sold on the Albemarle County real estate market.  During the same time period last year 202 Albemarle homes sold.  This represents a 20.8% increase in sales over last year.

As you can see from the graph many more homes have come on the market that have been sold.  Until inventory sells down we will remain in a buyers market.  It is also apparent that many of the sales were driven by the expiring first time home buyers tax credit.  This would account for the highest number of pending sales being in March and April.  We will see those sales closing through the month of June.  It remains to be seen what will happen to sales now that the tax credit has expired.  Personally, I am still very busy so I remain optomistic that the housing market will continue to improve over the next quarter.  Time will tell.

Albemarle County VA got the opportunity this evening to meet Bink their new police canine.

At a press conference this evening the Charlottesville community was introduced to the new Albemarle County police dog.  Bink, handled by officer David Hooper, is a 4 year Belgian Malinois imported from Holland.  The canine and handler have completed their training and have been on the street for the past week.  This dog will be used as a dual purpose dog for both apprehension and drug detection.

The purchase of this canine was made possible by cooperation between the Charlottesville Albemarle Kennel Club and the Charlottesville community.  CAKC put up half of the funds necessary for the purchase and training of the dog and challenged the community to match their donation.  Charlottesville rose to the challenge and the remainder of the necessary money was quickly donated.

The Albemarle County Police Department's committment to its canine program is a benefit to the area. 

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 Meets Their New Canine".