Charlottesville Real Estate Talk

Its the first of a new month and time to take stock of what is happening in our local real estate market.  This report will feature sales of detached homes in Albemarle County Virginia in November 2008.

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

15 homes had contracts pending.  The average list price was $500,070 and the median was $397,500.  The homes had been on the market for an average of 169 days.

24 Albemarle County homes sold in November of 2008.  They sold for an average price of $679,729.  The average list price was $744,581 and the median was $357,000.  The homes were on the market for an average of 118 days and sold for 91.29% of the list price.

As of November 1, 2008 there are 681 homes actively listed on the Albemarle County market.  The average list price is $987,796 and the median is $519,000.  The homes have been on the market for an average of 188 days.

Lets see how November of 2008 compared with October.

In October 2008 31 Albemarle County homes had contingent contracts.  The average list price was $702,938 and the median was $349,248.They had been on the market for an average of 153 days.

18 homes had pending contracts in October with an average list price of $880,142 and a median of $399,450 and an average days on market of 115.

40 Albemarle County homes sold in October of 2008.  The average sale price was $631,205, the average list price was $697,112 and the median was $435,679.  The homes were on the market for an average of 133 days and sold for an average of 90.55% of the list price.

Lets see how this compared with November of last year.

In November 2007, 48 homes sold in Albemarle County for an average sale price of $417,960.  The average list price was $444,662 and the median was $314,500.  The homes were on the market for an average of 90 days and sold for an average of 93.99% of the list price.

Finally we will look at the year to date figures for 2008 and 2007.  In 2007 from January 1 - November 1, 820 homes sold in Albemarle County.  In the same time period in 2008, 609 Albemarle County homes were sold.  This represents a decline of -25.7%.

As you can see, Albemarle County is still in a declining market.  This translates to a lot of inventory on the market, lower sale prices, and longer days on the market.  If you are selling a home, it needs to be in perfect condition and must be priced agressively.  In addition since over 85% of home buyers begin their search on the web, it is important to hire a REALTOR who has a strong internet presence.

If you are buying a home, the current market presents a great opportunity.  You have a large selection of homes to choose from, prices are down and many sellers are ready to negotiate.  Also interest are remaining very low.  This is the perfect time to buy your dream home at an exceptional price.

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 other blog Charlottesville Horse Farms and Country Homes for more information on Charlottesville homes, farms, events and real estate.

Due to a reader's request I am adding Orange County to my local market reports.  This report will cover the sales of single family detached homes in Orange County Virginia during October 2008.

In October 2008, 4 Orange County homes had contingent contracts.  Their average list price was $298,663 and the median was $182,825 with an average days on market of 245.

6 homes in Orange County had contracts pending.  The average list price was $256,283, the median was $182,000 and they were on the market for an average of 326 days.

IN the month of October 5 homes sold in Orange County, Virginia.  They sold for an average price of $244,100 and had been listed at an average price of $263,918.  The median was $215,000 and the average days on market was 247.  The homes sold for an average of 92.49% of the list price.

As of November 14, 2008 there are 138 homes actively listed on the market in Orange County.  The average list price is $417,622 and the median is $269,450.  The homes have been on the market for an average of 181 days.

For comparison let's look at the figures from September of 2008. 

In September of this year 1 home had a contingent contract.  The home had been listed for $450,000 and was on the market for 526 days.

2 homes had contracts pending.  They were listed for an average price of $309,995 and had been on the market for an average of 305 days.

In September of 2008, 4 Orange County homes sold.  The average sales price was $176,500 and the average list price was $179,200.  The median was $178,500 and the average days on market was 99.  The homes sold for an average of 98.49% of the list price.

Let's also look at the sales figures from October of 2007.

In October 2007, 12 Orange County homes sold for an average sales price of $294,053.  The homes had an average list price of $289,170 and a median of $332,250.  They were on the market for an average of 100 days and sold for an average of 101.69% of the list price.

Lets also compare the year to date figures for 2007 and 2008.  From January 1, 2007-Novemver 14, 2007 105 homes sold in Orange County.  During the same period this year only 68 homes went under closed contracts.  This is a decline in home sales of -35.2%.

As you can see home sales are way down from last year.  Also homes are selling for less.  In addition inventory is high and homes are staying on the market for a long time.  If you are considering selling your home it means that your home must be the one that buyers will notice.  Buyers are looking for a deal and your home must be priced aggressively or buyers will not tour it to see all of the special features that it offers.  Once your home is priced properly, make sure that it is in the best condition possible.  Your Realtor will be able to give you tips on what you can do to prepare your home for sale.  It is also important that you hire an agent who has an internet presence since over 58% of the buyers are starting their home search on the web.

If you are buying, it is the perfect time to find your dream home at a great price.  Homes are still good investments if you are planning to live in them for at least five years.

Figures are from the mls and while 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 the Charlottesville, Virginia and Central Virginia Homes for Sale click here and click on the mls search button.

Visit my wother blog Charlottesville Horse Farms and Country Homes for more information on Charlottesville and Central Virginia homes, horse farms, events and real estate.

Continuing our examination of the Central Virginia real estate market, we will look at the October sales of single family detached homes during October 2008 in Louisa County, Virginia.

In October 2008, 9 Louisa County homes had contingent contracts with an average list price of $319,516 and a median of $152,500.  The average days on market was 85.

5 homes had contracts pending.  The average list price was $175,788,  the median was $152,000 and the days on market was 124 on average.

11 Louisa County homes sold in October 2008.  They sold for an average price of $235,627, the average list price was $245,259 and the madian was $227,000.  The homes were on the market for an average of 90 dys and sold for 96.07% of the list price.

As of November 1, 2008 267 homes were listed on the market in Louisa County.  The average list price is $358,492, the median is $249,900 and the average days on market is 182.

Lets see how these figures compare with September 2008.

In October 2007, 10 Louisa County homes had contingent contracts for an average list price of $312,400.  The median was $238,000 and the homes were on the market an average of 168 days.

9 Louisa homes had contracts pending.  The average list price was $312,400 and the median was $238,000.  The average days on market is 125.

In September 2008, 19 Louisa County homes were sold at an average sales price of $207,773.  The average sales price is $215,507 and the median is $205,990.  The homes were on the market for an average of 128 days and sold for 96.41% of the list price.

Let's also look at the figurse from a year ago.  In October 2007 in Louisa
County 17 homes sold for an average sales price of $279,063.  The average list price is $274,451 and the average days on market is 189.  The homes sold for an average of 101.68% of the list price.

During the time period of January 1, 2008 - October 31, 2008 157 homes slod in Louisa County.  During the same time frame in 2007, 170 Louisa homes sold.  This is a decline of -7.6%.

These figures are from the local mls and are deemed correct, but 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.

For more information on Charlottesville and Central Virginia real estate news and local events visit my other blog at Charlottesville Horse Farms and Country Homes.

This week we are continuing to examine what happened in the Central Virginia real estate market during the month of October.  This post will focus on the sales figures of single family detached homes in Fluvanna County, Virginia.

In October 2008, 12 Fluvanna County homes had contingent contracts.  The average list price was $313,333.00 and the median was $244,450.  The homes had been on the market for an average of 115 days.

4 Fluvanna homes had contracts pending.  Their average list price was $298,688, with a median of $230,425 and an average days on market of 140.

In October 2008, 26 homes sold in Fluvanna County for an average sales price of $257,161.  They had been listed at an average price of $264,774 and the median was $234,982.  The homes had been on the market for an average of 97 days and they sold for an average of 97.12% of the list price.

On November 1, 2008, 335 Fluvanna homes are actively listed for sale at an average list price of $302,933 and a median of $250,000.  So far they have been on the market for an average of 161 days.

To further see what is going on in the Fluvanna real estate market, we should compare these figure with the sales in September of 2008.

13 Fluvanna homes had contingent contracts in September 2008.  The average list price was $261,638, the median was $249,000, and days on market was 108.

In September 14 homes had contracts pending with an average list price of $255,312 and a median of $249,000.  They were on the market for an average of 129 days.

20 Fluvanna County homes sold in September 2008.  The average sales price was $251,906, and the average list price was $259,301.  The median was $223,750 and the had been on the market for an average of 113 days.  They had an average of 113 days on the market.

We should also consider the home sales from last year.  In October 2007, 35 Fluvanna County homes sold.  The average sales price was $301,706, the average list price was $306,002, with a median of $266,740.  They were on the market for an average of 95 days and sold for an average of 98.60% of the list price.

In addition let's look at the sales that have take place this year to date.  From January 1, 2008 - October 31, 2008 270 homes sold in Fluvanna County.  During the same time period in 2007 379 homes sold.  This is a decline in sales of -28%.

As you can see from these figures if you do have to sell your home at this time it is important to price your home aggressively and to have it in the best possible condition so that it will be the one that stands out from the competition.  In sddition with 85% of homebuyers now starting their search online it is necessary to hire an agent who has a strong internet presence.  If you are buying, you may have the opportunity of a lifetime.  With the high inventory of homes on the market you have a lot of choices, interest rates have remained low, and many sellers have become more negotiable.  You may be able to purchase that dream home at a great price.

Figures are from the mls, and while deemed accurate 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.

For more information on Charlottesville, and Central Virginia real estate news and events visit my other blog at Charlottesville Horse Farms and Country Homes.

This post is continuing our examination of real estate activity in the Charlottesville, Virginia area.  In order to make our comparisons as accurate as possible, we need to compare similar types of homes.  This post will look at sales of condos and townhomes in Charlottesville, Virginia and the surrounding Albemarle County.

In October 2008, 10 Charlottesville - Albemarle condos and townhouses were under contingent contract.  The average list price was $228,460 and the median was $237,400 with an average of 87 days on market.

3 condos and townhomes had contracts pending.  They had an average list price of $358,283 and a median of $325,000 with an average of 202 days on the market.

In October of 2008, 7 condos and townhouses sold in Charlottesville, Virginia and Albemarle County.  They sold for an average sales price of $270,686, and were listed for an average price of $279,093.  The median was $251,900 and they were on the market for an average of 153 days.  These homes sold for an average of 96.99% of the list price.

On November 1, 2008, there were 276 condos and townhomes actively listed in Charlottesville, Virginia and Albemarle County.  The average list price was $256,378, median $227,450, average days on market 182.

To see where we are headed it is useful to consider where we have been.  Let's examine the figures from September of this year.

In September 2008, 12 Charlottesville-Albemarle townhomes and condos were under contingent contracts at an average list price of $280,529 and a median of $213,000.  They had been on the market for an average of 116 days.

8 townhomes and condos had contracts pending in September.  They had been listed for an average price of $360,586 and the median was $217,950, average days on market = 251.

In Charlottesville/Albemarle in September of 2008, 28 condos and townhomes sold.  The sales price averaged $275,822 with an average list price of $294,259, and a median of $219,500.  The average days on market was 141 and they sold for an average of 93.73% of the list price.

Compare the above figures with October 2007 sales figures.  In October of last year 36 townhomes and condos sold in Charlottesville, Virginia and Albemarle County.  The average sales price was $304,330 and they had been listed for an average price of $311,048 with a median of $271,389.  They were on the market for 104 days on average and sold for an average of 97.84% of the list price.

Finally lets compare the figures for this year to date with the same time period last year.  In 2008 from January 1-October 31, 470 condos and townhomes sold in Charlottesville-Albemarle, compared with 735 that sold in the same time period in 2007.  This represents a 36.1% decline in sales.

The above figures are from the mls, and while they are deemed accurate, they are not guaranteed.

As you can tell from these figures, if you are selling a Charlottesville, Virginia condo or townhome you need to make sure that your home is the one that buyers want to buy.  In order to do this it is important that your home is priced aggressively and is in the best condition possible.  It is also important to hire a real estate agent who has a strong internet presence, since 85% of homebuyers are starting their search online.  If you are considering a purchase of a Charlottesville or Albemarle County home, it is the perfect time to buy!  There are a lot of homes to choose from, interest rates are still low, and many sellers are ready to be negotiable.

____________________________________________________________________________________________________

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.

For more information on Charlottesville, Virginia and Albemarle County events and real estate visit my othe blog Charlottesville Horse Farms and Country Homes.

We all hear daily via our tv sets about the national real estate market, but what is happened locally?  It's the first of the month and we will explore the real estate activity in our local market.  This post will cover the figures of detached single family homes in the city of Charlottesville during October 2008.

In October of 2008, 13 Charlottesville homes had pending contracts.  The average list price was $267,093 and the median was $265,000 with an average of 83 days on the market.

1 Charlottesville home had a pending contract.  The list price was $299,990 and it was on the market for 12 days.

In October 2008, 13 homes in Charlottesville, Virginia were sold.  The average sales price was $290,999, with an average list price of $305,471 and a median of $249,900.  The homes had been on the market for an average of 65 days and sold for an average of 95.26% of the list price.

 As of November 1, 2008 there are 194 homes active listed on the Charlottesville, Virginia real estate market.  The average list price is $389,716 and the median is $325,000.  The homes have been on the market for an average of 157 days.

Let's look at the September 2008 figures in order to compare:

In September 2008, 18 Charlottesville homes were under contingent contracts.  The average list price was $296,461, with a median of $257,200 and they were on the market for 128 days on average.

10 Charlottesville homes had contracts pending.  They were listed for an average price of $329,119 and the median was $312,445.  The average days on market was 174.

In September 2008, 26 Charlottesville homes sold at an average sales price of $314,890.  The average list price was $327,721 with an average median of $260,316 and an average days on market of 28.  These homes sold for an average of 96.08% of the list price.

Lets compare with the figures from October 2007 when 19 Charlottesville, Virginia homes were sold at an average sales price of $376,554.  The average list price was $382,439, with a median of $350,000 and an average days on market of 77.  These homes sold on average for 98.46% of the list price.

In 2008 to date 307 Charlottesville homes were sold compared with 334 homes sold from January 1, 2007 through October 31, 2007.  This is a decline of 8.1% from 2007.

As you can see from these figures, real estate activity in October 2008 was down from September.  If you do need to sell your home it is imperative that it is priced aggressively and is in as good condition as possible.  With 85% of buyers beginning their search on time, you will need to hire a REALTOR with an internet presence.  On the other hand if you are buying a home in the Charlottesville area, you will have a lot of choices, interest rates are still low and savvy sellers are ready to negotiate.  It is a great time to buy!

 Figures are from the mls and while they are deemed accurate they are not guaranteed.

___________________________________________________________________________________________________

ontact 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.

For more information on Charlottesville, Virginia events, farms and real estate visit my other blog at Charlottesville Horse Farms and Country Homes.

Its the beginning of a new month and the perfect time to evaluate what has been going on in the local Albemarle County real estate market.  We have been hearing on the national news a lot about the state of the real estate market, but how does Albemarle County compare?

The following data is for single family detached homes in Albemarle County, Virginia.

In October 2008, 31 Albemarle County homes were under contingent contracts.  The average list price was $702,938 and the median was $349,248 with an average of 153 days on the market.

12 homes had pending contracts.  Their average list price was $1,119,563 and the median was $462,450.  They were on the market for an average of 98 days.

In October 2008, 33 Albemarle County homes sold.  The average sales price was $637,347, with an average list price of $709,451, and a median of $432,500.  They were on the market for an average of 138 days and sold for an average of 89.84% of the list price.

Currently there are 715 homes actively listed in Albemarle County.  The average list price is $968,151, the median is $500,000 and they have been on the market an average of 176 days.

Lets see how this compares with the figures from last month.  In September 2008, 45 Albemarle County homes sold at an average sales price of $513,605 and an average list price of $591,088.  The median was $492,000 and they had been on the market for an average of 147 days.  The homes sold for an average of 95.46% of the list price.

In addition we should compare this with last year.  In October 2007, 59 Albemarle County homes sold.  The average sales price was $556,805 and they had been listed at an average price of $591,088.  The median was $440,000 and they were on the market for an average of 108 days.  They sold for an average of 94.20% of the list price.

This year to date 577 Albemarle County homes have sold compared to 777 homes sold by this time last year.  This marks a 25.7% reduction of sales from last year.

As you can see sales have slowed ove the past year.  If you do have to sell in this market it is important to make sure that your home is properly priced and it is imperative to make sure that your home is in the best possible condition.  If you are considering buying an Albemarle County home, the timing couldn't be better.  There is a lot of inventory on the market, which translates into a lot of choices, and importantly interest rates are still low.

Figures are from the local mls and while deemed accurate 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.

For more information about Charlottesville and Albemarle as well as the local real setate scene visit my other blog at Charlottesville Horse Farms and Country Homes.

While examining the trends in the local real estate market, lets focus for a moment on the Spring Creek community in Louisa County Virginia.  Spring Creek is a gated community with an acclaimed new golf course.  The development is located in Louisa County, Virginia convenient to both Charlottesville and Richmond, Virginia.  This is the Spring Creek market report for August 2008 and contains data for both single family detached and attached homes.

In August 2008 there were not any Spring Creek homes under contract.

1 Spring Creek home had a pending contract.  It was listed for $282,950 and had been on the market for 15 days.

3 Spring Creek homes sold in August 2008.  The average sales price of these homes was $354,186 and they had been listed for an average price of $358,815.  The median price was $369,150 and they were on the market for an average of 138 days.  These homes sold for an average of 98.71% of the list price.

On September 1, 2008 there were 36 homes actively listed on the market in Spring Creek.  The average list price is $389,020 and the median is $380,450.  They have been on the market for an average of 178 days.

In July of 2008 1 Spring Creek home sold.  The sold price was $366,445 and it had been listed for $374,317.  The home was on the market for 52 days and it sold for 97.90% of the list price.

What do these figures tell us?  First of all there is a lot of inventory on the market in Spring Creek and the homes have been on the market on average for a long time.  It does not look like the homes that are selling are going for a lot under the list price however this can be misleading.  Many of the homes on the market in Spring Creek are new construction.  In the current soft real estate market, many builders while they may not accept huge price reductions, may be offering very desirable builer consessions. 

If you are considering buying in Spring Creek, I would love to show you this special community.  Contact me and we can talk about how I can hlep you find that perfect Spring Creek home. 

If you do need to sell a home in Spring Creek, it is important to price your home correctly from the beginning.  I would be happy to do a free CMA to help determine what your home would bring in today's competitive market.  Let me sit down with you and lets work out a strategy to ensure that your home is the one that sells.

Search all of the Spring Creek homes that are currently on the market.

Information from the CAAR mls and while deemed correct is not guaranteed.

Pam Dent, e-PRO, SRES, NHD
Real Estate III
Charlottesville, VA
434 960-0161
Charlottesville Homes
Charlottesville Horse Farms

This post will focus on what happened in the Greene County Virginia real estate market in August 2008.  Greene County lies north of Charlottesville, Virginia along route 29.  Greene County homes are a popular choice for people relocating and planning to work at NGIC, GE Fanoc or in Charlottesville itself.

In August 2008, 13 Greene County homes were under contingent contract.  The average list price was $270,792 and the median was $249,900.  The average days on market was 107.

3 homes were under pending contracts with an average list price of $225,633 and a median of $249,000, averaging 189 days on market.

In August 2008, 5 Greene County homes sold.  The average sold price was $266,500, the average list price was $279,720 and the median was $279,999.  They were on the market for an average of 185 days and sold for an average of 95.27% of the list price.

There are currently 204 homes actively listed in the Greene County real estate market.  they are listed for an average price of $423,544 and a median of $299,000.  They have been on the market for an average of 148 days.

In July 2008, 16 Greene County homes sold.  The average sale price was $268,150, with an average list price of $281,138 and a median price of $273,750.  They were on the market of an average of 161 days and sold for an average of 95.38% of the list price.

Compare these numbers with the Greene County home sales in August of 2007.  At that time 22 homes sold in Greene County Virginia.  They sold for an average price of $301,868, and had been listed for an average price of $313,764.  The median was $299,950, the average days on market was 80 and they sold for an average of 96.21% of the list price.

If you look at these figures, you can see that the Greene County real estate market is softer than it was in 2007.  Fewer homes are selling and they are selling for less money.  The homes are also selling for a lower percentage of the list price.

What does this mean for the consumer?  If you are thinking about buying in Greene County, the timing couldn't be better.  There is a lot of inventory which translates into a lot of choices.  Interest rates are low and many homes have been on the market for a long time so sellers may be ready to deal.  I would be happy to help you with your home search and talk with you about how we can find you the best home at the best price. 

If you  need to sell at this time, it is important to make sure that your home is the one that buyers will want over all of the others listed in the same price range.  Competitively priced homes are still selling.  Therefore it is important to price your home correctly from the beginning.  I would be happy to perform a free CMA to give you an idea of what your home might bring in todays Fluvanna County real estate market.  Location, condition and marketing are  other important factors that infulence home sales.  I would be happy to talk with you about a strategy to make sure that your home will be the one that sells.

Search the all of the Greene County homes curently for sale.

Information obtained from the CAAR mls and while deemed correct is not guaranteed.

Pam Dent, e-Pro, SRES, NHD
Real Estate III
Charlottesville, VA
434 960-0161
Charlottesville Homes
CharlottesvilleHorseFarms

Its the first of the month and time to assess the current trends in the Albemarle County real estate market.  This report will look at what has been going on in sales of Albemarle County condos and townhomes.

In August of 2008, 18 Albemarle County condos and townhomes were under contingent contract at an average list price of $274,256, and a median of $229,900.  They were on the market for an average of 124 days.

2 homes were under pending contract.  The average list price was $348,425 with an average of 80 days on market.

22 Albemarle County condominiums and townhouses sold in August of 2008,  The average sales price was $200,486 and they were listed for an average price of $210,165.  The median was $183,750.  The homes were on the market for an average of 104 days and sold for an average of 95.39% of the list price.

There are currently 302 condos and townhomes actively listed in Albemarle County, Virginia.  The average list price is $251,309, the median is $229,000 and the average days on market is 163,

In July 2008, 29 Albemarle condos and townhomes sold at an average sales price of $220,313.  The average list price was $230,216 and the median was $212,900.  The average days on market was 85 and these homes sold for an average of 95.70% of the list price.

Compare these figures with the sales of Albemarle townhomes and condos in August of 2007.  The average sales price was $224,365 and they had been listed at an average price of $225,949.  The median price is $211,000, with an average of 67 days on market.  The homes sold for an average of 99.30% of the list price.

What can we conclude from these figures?  Two things stand out right away.  One is the fact there is still a lot of inventory on the market compared to the present rate of sales.  The second thing that is apparent is that homes in August of 2007 were selling for almost full price, whereas in August of 2008 Albemarle townhomes and condos sold for almost 5% less than the listing price.

How does this translate for you, the consumer?  If you are considering buying a condo or townhome in Albemarle County, Virginia, now is a great time to buy.  The large inventory means that you have a lot to choose from.  Interest rates are still low and sellers are increasingly willing to negotiate either over price or consessions or both.  The current market offers the opportunity to get a great deal.  Contact me and I will help you find the perfect Albemarle County townhome or condominium to suit your particular wants and needs.

If you are selling, the most important thing is to make sure that your home is priced right the first time.  Homes that are priced competively are still selling.  I would be happy to do a free CMA of your home to give you an idea of what it might bring in today's market.  Other important factors to consider are the location and the condition of your home.  Contact me and we can go over  strategies that we could use to ensure that your home is the one that sells.

Figures courtesy of the CAAR mls and are believed accurate but not guaranteed.

Search all of the Albemarle County homes that are currently on the market.

Pam Dent, e-PRO, SRES, NHD
Real Estate III
Charlottesville, Virginia
434 960-0161
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