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Charlottesville Real Estate update (YTD - Oct 5,2008)

(Photo - home recently under contract with my clients)
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 the University of Virginia! Sales are starting to pick up in Charlottesville and our year is moving along nicely!
NOTE: These are just homes in the city of Charlottesville
Click Here for a link to see Great Neighborhoods in our area!
Some of our Spotlight Neighborhoods are: Glenmore Foxchase Old Trail Forest Lakes Dunlora
When you are looking for the right home, visit Charlottesville Real Estate for details about our area and other homes on the market. This includes Charlottesville, Albemarle County and the surrounding counties like Nelson, Greene, Madison, Fluvanna, Orange and Louisa.
Please look at our local phonebook for contact information on local companies.
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 team of experts in the Charlottesville area are always available to help you with your Real Estate needs. Call our team anytime at 434-981-1585 or to search for homes visit: Charlottesville Real Estate
Copyright © 2008 Charles McDonald, All Rights Reserved.
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We are starting a new month and it is the perfect time to look at what has been going on over the past month in the Charlottesville, Virginia real estate market. The following market report will deal with the sales of single family homes, condos and townhomes in the city of Charlottesville.
In September, 2008 26 Charlottesville homes had contingent contracts. The average list price was $301,996 and the median was $257,200. The homes were on the market for an average of 168 days.
8 Charlottesville homes had pending contracts. The average list price was $262,538 and the median was $269,700. They were on the market for an average of 161 days.
In September, 2008 45 Charlottesville, homes sold. The average sales price was $257,153, the average list price was $270,224 and the median was $215,000. The homes were on the market for an average of 59 days and sold for an average of 95.16% of the list price.
Lets compare these figures with August, 2008 when 49 homes sold for an average sales price of $284,243, an average list price of $284,243, and a median price of $256,250. They were on the market for an average of 81 days and sold for an average of 95.01% of the list price.
For further comparison lets look at the sales of Charlottesville homes in August of last year. In August of 2007, 47 Charlottesville homes were sold. The average sales price was $324,871 and the average list price was $332,177. The median was $299,000 and the homes were on the market for an average of 100 days. The homes sold for an average of 97.80 percent of the list price.
Currently there are 325 homes actively listed in the Charlottesville, Virginia market. The average list price is $350,529 and the median is $299,000. They have been on the market for an average of 149 days.
As you can see from these figures it is still very much a buyers market. There is a lot of inventory to chose from and homes are selling on average for 2 1/2% less of their asking price than they were a year ago. With the length of time that many of these homes have been on the market, you may be able to get your dream home for a very good price. If you are considering selling, it is very important to price your home properly. I would be happy to perfom a cma on your home to give you an idea of what your home may bring in today's market.
Information obtained from mls and while believed accurate is 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.
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A Chocolate Festival
Lee Park
10.18
An Art Show!
October 25, 2008 5:00 pm to 10:00 pm
Twenty artists, including Lee Alter, Bill Finn, Vee Oswalds, and John Trilby, contribute works to a one-night art show to benefit Children, Youth & Family Services, Inc. The event features music by 6 Day Bender. Montessori Community School, Pantops Mountain, 305 Rolkin Road. 979-0096.
This month at Monticello
Oct. 4
Tufton Fern Walk
Meets at the Tufton Farm, 9:30 a.m. $10
Oct. 11, 12
Plantation Community Weekend
10 a.m. to 4 p.m
Oct. 18
Apple Tasting
Reservations required.
Meets at 9:30 a.m. at the Tufton Farm nursery. $10
Oct. 23
Lecture: The First Emancipator . . . Robert Carter
4 p.m. at Kenwood, home of Monticello's Robert H. Smith International Center for Jefferson Studies. Free.
This month at UVA
Sports, Sports and More Sports
EJ and JayZ at the JPJ ( not together )
Reba and Kelly at the JPJ ( together ) and
don't forget trick or treating on the lawn!!
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SunTrust Mortgage Inc. Sandy Madison
Charlottesville, VA 22901 sandy.madison@suntrust.com
Fax 434-978-4259 434-566-2420
Rates
October 3, 2008
Loan Amounts: 417,000 and below
Conventional
Rate: 6.25 - APR 6.28
FHA & VA
Rate: 6.375 - APR 6.859
Rural Housing - 100% LTV
Rate: 6.25 - APR 6.298
VHDA
Rate: 5.875 - APR 6.21
VHDA - FHA Plus - 102.75% LTV
Rate: 6.125 - APR 6.96
100% Doctor Loan Bridge Loans Jumbo Available Upon Request Rates subject to change based on current market, loan to value and credit
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If you read (and listen to the news) you would think the market is not moving at all. Well for Charlottesville Real Estate that just is not true!
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I just closed on the above home. It is fabulously finished with grand details. Full finished terrace level with theater area, rec-room and additional bed and bath.
I for one am a little tired of the "talking heads" on the news telling us how bad things are and that we have to do this or that....
Do not beleive the news, talk to an expert in your area!
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 team of experts in the Charlottesville area are always available to help you with your Real Estate needs. Call our team anytime at 434-981-1585 or to search for homes visit: Charlottesville Real Estate
Copyright © 2008 Charles McDonald, All Rights Reserved.
ActiveRain Corp. is not responsible for the accuracy of the site's content (which is written by members of the ActiveRain Real Estate Network) and does not endorse the views of the real estate agents, mortgage brokers, and others listed here.
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