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.
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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.
Pam, do you have an Orange County, VA report? What is your assessment about raw land sales? Are they selling for less than asking price? Or is this a different animal? Thanks for the info!
Rhett - Thanks for stopping by. I will put an Orange County market report up tomorrow evening and will include figures on land as well as detached home sales. Land sales have been slow. One of the things that will figure into those numbers is the fact that construction is way down. Therefore builders are not buying more lots to put spec homes on. Everything is selling below asking price the question is how much below. There are some very good deals possible but there are also a lot of people who will take a reasonable offer, but are not going to give their homes away. Previously we were seeing homes selling for 99-98% of list price; now we are generally seeing more like 95%. Of course this varies by area and neighborhood.
Rhett- Here are links to the two reports that I promised.
Central Virginia land market report
Orange County October Market Report
I will add these two areas to my monthly market reports which I post the first week of each month.