Charlottesville VA Real Estate Market Sales And Inventory History

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

Month	Year	Monthly Sales	Avg ListPrice	Avg Sale Price	% Diff Sell/list	Avg DOM	Curr Inventory	Months Inventory
January	2006	86	$470,044	$457,490	97.33%	82.0	546	6.35
February	2006	93	$483,421	$474,033	98.06%	76.0	641	6.89
March	2006	113	$424,964	$423,674	99.70%	81.0	747	6.61
April	2006	114	$439,065	$431,954	98.38%	78.0	855	7.50
May	2006	155	$431,015	$426,985	99.06%	59.0	955	6.16
June	2006	205	$463,570	$454,685	98.08%	55.0	978	4.77
July	2006	155	$438,783	$431,068	98.24%	67.0	954	6.15
August	2006	144	$515,571	$496,912	96.38%	77.0	935	6.49
September	2006	78	$527,744	$513,346	97.27%	78.0	980	12.56
October	2006	83	$484,038	$463,625	95.78%	88.0	930	11.20
November	2006	103	$631,620	$598,559	94.77%	104.0	861	8.36
December	2006	72	$553,946	$529,611	95.61%	100.0	796	11.06

Total		1401	$488,648	$475,162	97.24%	78.8	848	7.83

January	2007	57	$468,250	$448,318	95.74%	102.0	760	13.33
February	2007	59	$403,778	$395,346	97.91%	110.0	783	13.27
March	2007	95	$431,987	$416,971	96.52%	103.0	878	9.24
April	2007	112	$463,986	$449,955	96.98%	101.0	980	8.75
May	2007	159	$464,782	$451,769	97.20%	80.0	1027	6.46
June	2007	196	$464,162	$451,827	97.34%	68.0	1022	5.21
July	2007	144	$455,017	$439,179	96.52%	72.0	998	6.93
August	2007	133	$550,351	$531,777	96.63%	97.0	975	7.33
September	2007	71	$452,118	$435,097	96.24%	105.0	991	13.96
October	2007	78	$540,264	$512,898	94.93%	100.0	974	12.49
November	2007	71	$413,044	$395,137	95.66%	95.0	940	13.24
December	2007	77	$493,501	$472,664	95.78%	123.0	876	11.38

Total		1252	$466,770	$450,078	96.42%	96.3	934	9.92

January	2008	60	$487,611	$464,255	95.21%	118.0	840	14.00
February	2008	60	$530,688	$501,568	94.51%	132.0	881	14.68
March	2008	73	$389,507	$371,417	95.36%	129.0	951	13.03
April	2008	88	$440,946	$417,420	94.66%	123.0	1028	11.68
May	2008	120	$441,232	$417,155	94.54%	110.0	1024	8.53
June	2008	140	$424,786	$405,606	95.48%	95.0	1011	7.22
July	2008	139	$496,461	$469,054	94.48%	113.0	982	7.06
August	2008	101	$428,019	$412,333	96.34%	104.0	966	9.56
September	2008	74	$448,799	$429,235	95.64%	116.0	962	13.00
October	2008	59	$583,915	$532,563	91.21%	109.0	968	16.41
November	2008	43	$620,926	$572,598	92.22%	107.0	929	21.60
December	2008	57	$572,835	$537,012	93.75%	130.0	860	15.09

Total		1014	$488,810	$460,851	94.28%	115.5	950	12.75

January	2009	29	$418,159	$399,138	95.45%	122.0	801	27.62
February	2009	47	$471,386	$437,171	92.74%	135.0	806	17.15
March	2009	54	$496,089	$474,906	95.73%	150.0	882	16.33
April	2009	58	$528,756	$477,917	90.39%	129.0	973	16.78
May	2009	93	$441,291	$414,423	93.91%	127.0	1031	11.09
June	2009	95	$405,237	$383,979	94.75%	87.0	1035	10.89

Total		376	$460,153	$431,256	93.72%	125.0	921	16.67

Total	2006-2009	4043	$476,095	$454,337	95.43%	104.0	913	12.00

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.

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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.

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Posted Friday Jul 03