Charlottesville, VA

This Albemarle County VA real estate market report focuses on the sales of single family detached homes during November 2009. As the year draws to a close it is interesting to continue our examination of the local real estate market as it slowly rebounds.

During the month of November 51 homes sold in Albemarle County. The average sale price was $396,262 after an average of 143 days on the market. The homes sold for an average of 95.26% of the list price.

In October 37 Albemarle homes had contracts that closed for an average sale price of $450,786. The homes had an average DOM of 125 and sold for an average of 89.81% of the list price.

52 Albemarle County homes sold in September. They sold for an average price of $399,352. The homes had been on the market for an average of 115 days and sold for an average of 94.33% of the list price.

As of December 1, 2009 there were 551 Albemarle County homes for sale. Tha average list price is $1,083,869 with a median of $459,900. The homes have been on the market for an average of 195 days so far.

During the period from 1/1/2009-12/1/2009, 589 homes sold on the Albemarle County VA real estate market. This represents a decline of -7.1% from the same time frame during 2008.

The Albemarle County real estate market has been seeing an active fall season. Much of this is probably the result of first time homebuyers hurrying to buy a home before the $8,000 First Time Homebuyer Tax Credit expired on November 30. Now that the tax credit has been extended into the spring of 2010 with an accompaning $6,500 credit for existing home buyers, we can be hopeful for a continuing recovery through the normally slow winter months. Of course we still have a ways to go in the recovery process. At the current rate of sales we have almost 12 months of inventory on the market. It is still important for sellers to price their homes agressively and to present those homes in the best possible condition as there are a lot of competing listings.

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

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 Real Estate Market Report - November 2009".

Whenever people ask me about Charlottesville real estate they are always interested n what price homes are selling.

The graph below shows Charlottesvile and Albemarle County sales of single family detached homes for the year to date. As you can see the largest number of the homes purchased by far have been in the $200,000 - $400,000 price range. In addition the graph shows that about three quarters of the homes sold this year on the Charlottesville VA real estate market have been under $500,000. Many of these sales have been to first time homebuyers.

The above figures are from the 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 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 blogs 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, "Charlottesville VA Real Estate - What Price Homes Are Selling?"

Brookwood Single Family Homes

While Brookwood is known for its proximity to Downtown Charlottesville, it's also becoming known in the real estate world for its brisk sales pace. While the majority of sales have been attached homes, there are still single family options available.

Detached sales peaked last year with 16 detached closings, after a strong 7 in 2008. However, the numbers have dropped through the first 11 months of 2009. There have been only 3 sales to date. However, the main reason for the major drop has been the inventory levels. After 16 sales last year, there were only a limited number of single family home sites remaining. At the current time, there is only 1 existing single family home for sale in Brookwood (there are also 3 pre-sale opportunities listed in the Charlottesville MLS). In addition, there is one home under contract.

While Brookwood home sale numbers have remained positive, price per square foot for single family Brookwood homes has suffered. However, price per square foot of these homes hasn't suffered any more or less than other Albemarle County homes or neighborhoods. In fact, psf for detached Brookwood homes has declined at an almost identical rate to other detached Albemarle County homes.

Overall, Brookwood seems to be holding fairly steady in the current real estate market. It's location is probably the #1 reason behind that. However, the current Brookwood builders (including Southern Development, Winn Homes, and Eagle Construction) have been proactive in their pricing strategies and have adjusted with the market...which has helped to stimulate sales in an otherwise down year.

About Brookwood

Located in Charlottesville
1.5 miles to Downtown / 3 mins by car
Closest Vineyard: Jefferson Vineyards (5 miles)

Brookwood's city villas and single family homes offer 1500 - 3300 finished square feet, ideally located in the City of Charlottesville. Superbly styled homes, Brookwood reflects the American Arts & Crafts movement with its emphasis on classic design, artisan individuality and quality craftsmanship. Brookwood homes are convenient to UVA Grounds and Hospital, as well as I-64. Proximity to the Downtown Mall means that unique shopping and dining experiences are only minutes away. Brookwood also offers easy access to walking trails along Rock Creek. Brookwood is now offering Charlottesville homes built by Winn Homes and Southern Development.

Homes for sale in Brookwood.

Homes for sale in Charlottesville.

View the video of Charlottesville.

We talk a lot about Statistics when it comes to real estate. Let’s look a little closer at Charlottesville Real Virginia Estate.

Have you heard about Charlottesville Virginia? You deserve to have the quality of life that Charlottesville has to offer. We are a small town that has everything you want to enjoy life. Think about visiting soon…

(Photo – taken in downtown Charlottesville Virginia at Court Square by Charles McDonald)

Let’s Talk Charlottesville Real Estate!

We are very fortunate to live in such a wonderful area. We have four season, Blue Ridge Views and theUniversity of Virginia! Sales are starting to pick up in Charlottesville and our year is moving along nicely!

• In Charlottesville City we have SOLD 416 HOMES.
  
• There are currently 315 HOMES on the market. (+4 from last report)
• Our average DOM (Days on the Market) is at 124 Days . (+1 from last report)
• Our Average selling price is $274,182 ($276,512 from last report)

We have some excellent neighborhoods to see like:

Glenmore Foxchase Old Trail Forest Lakes Dunlora

Click Here for a link to other Great Neighborhoods in our area!

Please visit my website at Charlottesville Virginia Real Estate for details about our area and other homes on the market in Charlottesville, Albemarle County and the surrounding counties!

Nelson Greene Madison Fluvanna Orange Louisa

Come visit and tour our area anytime!

About The Author

Charles McDonald, Associate Broker at RE/MAX Assured Properties and dedicated Buyers Agent is the author of this blog, and several other sites on the Internet. Charles and his group of experts in the Charlottesville area are always available to help you with your Real Estate needs. Call our group anytime at 434-981-1585 or to search for homes visit: Charlottesville Real Estate

Copyright © 2009 Charles McDonald, All Rights Reserved.

During the past year in the Charlottesville VA real estate market condominum sales have been the hardest hit portion of the local market.

Earlier in the decade we saw a lot of building of new condominium projects as well as many condo conversions of appartments.  Many of these were aimed at the large student commnity.  Logically it stands to reason that these units should be good affordable options for first time home buyers.  So why aren't Charlottesville condominiums selling?  Inability to find financing for condos is the answer.

This week Realty Times published a good article explaining the problems with obtaining financing for a condo purchase.  FHA has just tightened their regulations for condo loans which will make it harder for first time homebuyers to purchase a condo.  Unfortunately until the market stabilizes and FHA loosens their regulations we will continue to see slow condominium sales figures.  In the interim many condominium buyers will have to look for creative financing solutions.

Read the list of FHA rules and regulations.   

There are many condos for sale on the Charlottesville real estate market and there are still a few loans available for their purchase.

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, "Charlottesville VA Real Estate - Condominium Sales".