Charlottesville Real Estate Talk

This Louisa County real estate market report will focus on the sales of single family detatched homes in Louisa County Virginia during January 2009.  Louisa County is located to the east of Albemarle County and Charlottesville, Virginia.  A Louisa County home is perfectly situated for a commute to eaither Charlottesville or Richmond, Virginia.

In January 2009, 6 homes in Louisa County had contingent contracts.  The average list price was $162,033 and the median was $149,900.  The homes were on the market for an average of 84 days.

4 Louisa County homes had contracts pending.  They were listed for an average price of $236,415 and the median was $242,330 with an average DOM of 172 days.

Only 1 home sold in Louisa County during January of 2009.  The home sold for $217,000 and had been listed for $225,660.  It had been on the market for 320 days.  The home sold for 96.16% of the list price.

There are currently 255 homes for sale in Louisa County.  The average list price is $346,930 with a median of $239,990.  The homes have been on the market for an average of 183 days.

Lets see how this compares with the home sales during the month of December.

In December 2008, 5 Louisa homes had contingent contracts.  The average list price was $172,320 and the median was $169,500.  The homes were on the market for an average of 110 days.

5 Louisa County homes had contracts pending.  The average list price was $188,696 and the median was $155,000.  The average DOM was 141 days.

8 homes sold in Louisa County during December 2008.  The average sale price was $222,505.  The homes had been listed for an average price of $223,966 and the median was $237,070.  The homes had been on the market for an average of 53 days and sold for an average of 99.35% of the list price.

Lets also look at the home sales from a year ago.
In January 2008 10 Louisa County homes sold.  The average sale price was $366,253.  The homes had been listed for an average price of $385,193 and the median was $289,990.  The homes were on the market for an average of 70 days and sold for an average of 95.08% of the list price.

As you can see the real estate market in Louisa County continues to be extremely slow.  The other thing that is apparent is the fact that the buyers that are out there are not comfortable spending as much on a home as they were a year ago.  The lower median does not mean that home values have gone down that much, but rather it shows us what todays home buyer is comfortable spending.

If you would like to discuss the Louisa County real estate market and how it might relate to your situation, I would be happy to speak with you.  If you are considering buying a Louisa home, now is a great time.  The large inventory offers a lot of choices, interest rates are at historic lows and with the large number of days that some of these homes have been on the market you might be able to get the home of your dreams at a very good price.

Figures from the local 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 , 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 theLouisa County homes for sale and the Charlottesville, Virginia and Central Virginia Homes for Sale click here and then 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.

Copyright © 2009 all rights reserved, "Louisa County Real Estate Market - January 2009".

This Louisa County real estate market report will focus on the sales of single family detached homes in Louisa County, Virginia during December 2008.

The first segment that we will examine will be the statistics on real estate activity for December 2008.

In December 2008, 5 Louisa County homes had contingent contracts.  The average list price was $172,320 and the median was $269,500.  The homes were on the market for an average of 110 days.

3 homes had contracts pending.  The average list price was $124,500 with a median of $119,000.

8 Louisa County homes sold in December 2008.  The average sale price was $222,505, with an average list price of $223,966 and a median of $237,070.  The homes were on the market for an average of 53 days and sold for 99.35% of the list price.

There are currently 258 homes actively listed on the Louisa County real estate market.  The average list price is $349,209 and the median is $242,410.  The homes have been on the market for an average of 188 days.

Lets look at the November 2008 sales for comparison purposes.

In November 2008, 6 homes in Louisa county had contingent contracts.  The average list price was $288,203 and the median was $267,400.  The homes were on the market for an average of 93 days.

8 homes had contracts pending.  The average list price was $257,177 and the median was $184,413.  The average DOM was 175.

9 Louisa County homes sold in November 2008.  The average sale price was $278,241 and the homes had been listed for an average price of $288,133.  The median was $211,465, with an average DOM of 158.  The homes sold for an average of 96.57% of the list price.

Lets also look at the figures from December of 2007. 
15 Louisa County homes sold in December 2007.  The average sale price was $299,095 and the homes had been listed for an average price of $292,475.  The median was $290,000.  The homes were on the market for an average of 78 days and sold for an average of 102.26% of the list price.

The beginning of the new year is the perfect time to look at what happened in the Louisa County real estate market over the previous year as a whole and compare the activity with the year before.

In 2007, 198 homes sold in Louisa County.  The average sale price was $286,005.  The homes were listed for an average price of $285,294.  They were on the market for an average of 129.8 days and sold for an average of 100.25% of the list price.  During 2007 there was an average of 17 months inventory on the market.

In 2008, 181 Louisa County homes sold.  The average sale price was $267,252 and the homes were listed for an average price of $273,370.  The average DOM was 122.6 days and the homes sold for an average of 97.76% of the list price.  During 2008 there has been an average of 21.5 months of inventory on the Louisa County real estate market.

This represents a decline in sales of -8.59% from 2007 to 2008.

As you can see from the above figures, the real estate market in Louisa County has been flat for the past two years.  Although there has not been a great decline from 2007 to 2008,  The amount of inventory on the market has been increasing and prices have been decreasing.  We need to see a major reduction in inventory in order for this market to pick up.  With the current low interest rates,  the large selection of choices, and sellers who may be ready to negotiate, this can represent a good opportunity for buyers.

Please contact me if you would like more information on the Central Virginia real estate market or would like to talk about how this relates to your particular property.

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.

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This post will focus on the sales of single family detached homes in Louisa County Virginia during November 2008.

6 Louisa County homes were under contingent contracts in November 2008.  The average list price was $288,203, with a median of $267,400 and an average of 93 days on market.

6 homes had contracts pending.  The average list price was $305,419 and the median was $219,408 with an average of 119 days on market.

In Louisa 8 homes sold in November of 2008.  The average sale price was $295,021.  The homes had an average list price of $307,025 and a median of $234,865.  The average DOM was 166 and the homes sold for an average of 96.09% of the list price.

As of December 1 there were 276 homes actively listed on the Louisa County real estate market.  The average list price is $343,817 and the median is $240,975.  The homes have been on the market for an average of 186 days.

Lets compare these figures with October 2008 sales.

In October 2008, 9 Louisa County homes were under contingent contracts.  The average list price was $319,516 and the median was $152,500.  The average days on market was 85.

6 homes had contracts pending.  The average list price was $171,480 and the median was $150,971 with an average of 129 days on market.

In October 2008, 18 homes sold in Louisa County.  The average sale price was $264,441 and the homes had been listed for an average price of $261,732.  The median was $242,000 and the average days on market was 79.  The homes sold for an average of 101% of the list price.

To further compare lets look at the home sales from a year ago.

In November of 2007, 14 homes sold in Louisa County.  The average sales price was $324,326 and the homes were listed at an average price of $321,487.  The median was $317,000 with an average DOM of 120 days.  The homes sold for an average of 100.88% of the list price.

For further comparison lets compare the year to date sales between this year and last.

In 2007 during the period from January 1 - December 1, 183 homes sold in Louisa County; during the same period in 2008, 172 Louisa County homes sold.  This represents a decline in sales of -6.0%

What can we tell from these figures?  One ray of hope for Louisa County is the fact that while home sales are slow this represents the smallest decline in sales in the Central Virginia area.

There is still a great deal of inventory on the market and homes are selling for less than they were last year.  Sellers will need to price their homes aggressively and make sure that they are in the best condition possible to capture the attention of buyers in this market.  Also since 85% of buyers are starting their home search online it is important to hire a Realto with a strong internet presence.

Buyers have a lot to choose from, prices are low, and interest rates so far have remained low.  With the long time that homes are remaining on the market many sellers are ready to negotiate.  This is the perfect time to find a great home at a great price.

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, farms, events and real estate.

The first of the month is the perfect time to reflect on what is going on in the area real estate market.  This market report will focus on home sales in the Louisa Couny, Virginia market.

In September 2008 10 Louisa County homes were contingent.  The average list price was $312,400 and the median was $238,000.  The homes were on the market for an average of 168 days.

8 Louisa County homes had pending contracts.  The average list price was $300,044 and the median was $224,950.  They have been on the market for an average of 135 days.

In September, 2008, 18 Louisa County homes sold.  The average sales price was $198,159, the average list price $206,938 and the median $203,040.  They had been on the market for an average of 135 days and sold for an average of 95.76% of the list price.

Compare these figures with the August home sales in Louisa County.  In August 2008, 22 Louisa homes sold for an average sales price of $258,396.  The average list price was $262,690, and the median was $256,200.  They had been on the market for an average of 111 days and sold for an average of 98.37% of the list price.

Lets look at what happened in the Louisa County real estate market a year ago.  In September 2007, 14 homes sold in Louisa County, Virginia.   The average sales price was $291,417 and the average list price was $300,915.  The median price was $274,000.  The homes had been on the market for an average of 117 days and sold for an average of 96.84% of the sales price.

At this time there are 292 homes actively listed in Louisa County.  The average list price is $368,698 and the median is $264,450.  The homes have been on the market for an average of 177 days.

What can we deduce from these figures?  Number one, there is a lot of inventory on the market.  At the current rate of sales it will take about 16 months to buy down all of the inventory on the market.  This translates into alot of choices for buyers.  If you are a seller it is important to make sure that your home is in perfect condition to ensure that your home will "out shine" all of the other homes in the same price range.  You will also notice that the homes that did sell are priced much lower on average that the homes that sold a year sgo.  Buyers are looking for a deal in this market and the homes that are selling are priced agressively.  Many properties that have been on the market for a long time may have had significant price reductions.  There are opportunities right now to find the perfect home at a great price.
If you are selling a home it is crucial in this market to make sure that your home is priced properly.  I would be happy to do a cma on your home and discuss with you what your home could bring in today's market.  Also since 85% of all buyers are starting their home search on line it is important to choose an agent who has a strong internet presence.

All figures are curtesy of the local mls and are deemed correct but 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.