Charlottesville, VA

Before I start my usual market reports this month, I thought I would share some sales and inventory statistics with you so that we can look at the overall trends in the Charlottesville VA and Albemarle County real estate market.

Sales and Inventory History

Friday, July 03, 2009
Category - Residential / PropType: Detached / Area: 01, 05

Note: The "Current Inventory" column(s) reflect the number of active and contingent (on market) listings on the 16th day of each month.The "Months Inventory" column(s) value(s) equal "Current Inventory" divided by "Monthly Sales".This reflects how many months it would take to sell out of inventory at the current months rate of sale.

There is a lot of information in this report. We can see that the average list and average sale prices are down from last year. In addition the homes are selling for a lower percentage of the list price. Not surprisingly days on market has gone up. For this year so far overall the graph tells us that there is 16.67 months of inventory on the market. However if you look at the figures for May and June even though there are more homes on the market the number of sales is way up. We haven't seen that many sales since August of 2008. In addition even though there are more homes on the market there is only 10.8 months of inventory on the market in the Month of June. Hopefully this is the start of a trend and we will see a steady rise over the rest of the year, although as you can see the peak selling months in the Charlottesville real estate market are April - August.

Figures are from the mls and while they are presumed correct they 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.

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 Market Sales And Inventory History".

This is my favorite "patriotic" photo!

I hope you have a wonderful 4th of July!

Note: Charlottesville Fireworks are not allowed in the city. Crozet has canceled the firework show, but McIntire Park is on as well as places like Keswick Estate and Farmington

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.

Today I received a nice email from a client whom I showed real estate in Charlottesville to this past weekend:

We wanted to thank you for your time, insight and support during our visit. It’s understandable how people spend some time in C-Ville and end up not leaving. It’s combines a scenic, bucolic lifestyle with nearby areas of activity through the schools and downtown providing an attractive combination. This along with the school system, recreational programs and general cost of housing provide an overall great quality of life for families.
Chuck and Nancy

I spend a lot of time on my blog talking about our area, but I could not have said it better than my clients

come visit anytime

This Charlottesville VA market report will focus on the sales of attached homes during May 2009. This post will include the sales of attached homes in the greater Charlottesville area including sales in Albemarle County.

During May 2009, 24 Charlottesville VA townhomes had contracts that closed. They sold for an average price of $236,088 and had been on the market for an average of 101 days. The homes sold for an average of 95.44% of the list price.

For comparison we will look at the April and May sales of Charlottesville attached homes.

In April 2009, 15 townhomes sold in Charlottesville VA. The average sale price was $206,749, with an average DOM of 77. They sold for an average of 100.33% of the list price.

14 Charlottesville Virginia attached homes sold in March 2009. They sold for an average price of $234,354 and were on the market for an average of 52 days. These homes sold for an average of 102.32% of the list price.

You will notice that in March and April the homes sold for an average sale price that was over the list price. This is probably due to the fact that several of those sales were new construction townhomes. If that is the case the homes would have probably been listed at the base price, but often sell for over that price due to upgrades and other options.

To get an overall picture of the Charlottesville VA real estate market for attached homes, we will look at the figures of the sales to date compared with the same period last year. In the time frame from 1/1/2008-6/1/2008, 159 attached homes sold in Charlottesville Virginia. During the same period ihis year 152 homes sold. This is a decline in attahed home sales of -4.4%.

Today June 19,2009 there are 207 Charlottesville VA attached homes for sale. They are listed for an average price of $273,157, with a median of $249,900 and have been on the market for an average of 159 days so far.

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

Albemarle County VA Real Estate Market Report - May 2009

Charlottesville VA Real Estate Market Report - May 2009

Charlottesville VA Condominiums Real Estate Market Report - May 2009

Fluvanna County VA Real Estate Market Report - May 2009

Louisa County VA Real Estate Market Report - May 2009

Greene County VA Real Estate Market Report - May 2009

Lake Monticello Real Estate Market Report - May 2009

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.

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 Market Report Attached Homes - May 2009".

The University of Virginia (UVA) Art Museum is a must see!

"Just around the corner from Thomas Jefferson's Rotunda, the University of Virginia Art Museum presents art from cultures throughout the world..."

Located at 155 Rugby Road and open Tues-Sun from 1-5pm, plan a day to see some of the fine art in Charlottesville.

It is amazing to me how many things are available around Charlottesville, you can tour Monticello, Visit Vineyards, take in a show or see fine Art.

Come see what all the excitement is around Charlottesville, and remember the arts!

Also visit http://www.virginia.edu/artmuseum and for Charlottesville Real Estate

Make Art a part of your World!