Albemarle County VA Real Estate Market Report - June 2009

This Albemarle County VA Real Estate Market Report will focus on the sales of single family detached homes during June 2009.

56 homes sold in Albemarle County during June 2009. The average sale price was $436,792. The homes were listed for an average of $464,519 and they were on the market for an average of 102 days. The median price was $379,500 and the homes sold for an average of 94.03% of the list price.

To compare we will also look at the May sales figures. In May 2009, 69 Albemarle County homes had contracts that closed for an average sale price of $424,143 and a median of $338,000. The homes were listed for an average price of $451,884 and sold for an average of 93.86% after being on the market for an average of 134 days.

Lets go back one more month and examine the April sales figures. 38 homes sold in April for an average sale price of $599,980. The average list price was $668,493, with a median of $315,000. The homes were on the market for an average of 118 days and sold for an average of 89.75% of the list price.

In 2008, during the period from 1/1/2008-6/31/2008, 352 Albemarle County homes sold. During the same time frame this year only 248 homes sold in Albemarle County VA. This represents a decline in sales of -29%.

Today 7/11/2009 there are 657 Albemarle County VA homes for sale. The median list price is $470,000 and they have been on the market for an average of 158 days so far.

The contingent and pending sales figures show the most recent real estate activity. Looking at the median price figures of the past several months we can see that the current buyers are more comfortable buying in a slightly lower price range. You can also see this on the graph of the year to date sales which shows the highest number of sales between 250,000 and 350,000. Also traditionally the spring is the busiest time in the Charlottesville - Albemarle County real estate market. On the graph we can see that the contingent sales numbers have been steadily rising over the past several months. It will be interesting to see if this trend continues or if it begins to level off. You should also be aware that majority of the homes in the sold columns went under contract at least 30-60 days ago.

The 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.

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Copyright © 2009 by Pam Dent, all rights reserved, "Albemarle County Real Estate Market Report - June 2009".