We have been looking at the September figures for the area real estate market over the past week. To tie it all together it is important to look at the larger picture. In this post we will consider how the figures for the year to date compare with the figures for last year during the same time. We will be looking at the figures for homes sold from January 1 through September 30.
In Albemarle County, Virginia 822 homes have sold since the beginning of 2008. Compare this with the figures for 2007 when 1,211 homes had been sold by the end of September. This translates to a decrease in homes sold of 32.1%.
In the city of Charlottesville 477 homes have sold this year to date, however in 2007 525 homes sold in the same time frame. This is a decrease in sales of 9.1%.
The above figures are of all types of residential property, ie. detached, attached, condos and farms.
While we are examining the trends in the Charlottesville/Albemarle real estate market, lets focus on sales specifically of condos and attached homes. In 2008 up to the end of September 450 condos and townhomes in Charlottesville and Albemarle County sold. However in 2007, 688 Charlottesville/Albemarle condos and townhomes sold. This is a decrease of 34.6% from 2007.
As we can see the Charlottesville market over all is holding its own better than the Albemarle County real estate market. However both the detached home market and the condo market present opportunities for buyers. The large inventory translates into a lot of choices as well as a chance to purchase your dream home at a deal of a price. For buyers it could be the chance of a lifetime.
If you are selling in this market, it is crucial that you price your home correctly the first time. Properly priced homes are still selling. In addition, it is important to prepare your home so that it is in the best condition possible in order to ensure that it is the home that buyers will pick over all of the other homes that are on the market. In addition, since 85% of buyers start their home search on line, you need to choose an agent with a strong internet marketing presence.
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 , 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 blogs Charlottesville Real Estate Talk and Charlottesville Horse Farms and Country Homes.
