Albemarle County VA Real Estate Market Report - October 2011

This Albemarle County real estate market report will focus on the sales of single family detached homes.

October 2010 average list price $744,446.
October 2011 average list price $422,777.

October 2010 average sale price $718,213.
October 2011 average sale price $403,453.

October 2010 median sold price $364,250.
October 2011 median sold price $331,049.

October 2010 average coninuous days on market 160 days.
October 2011 average continuous days on market 135 days.

October 2010 %sold/list 96.47%.
October 2011 %sold/list 95.42%.

1/1/2010 - 11/1/2010, 599 homes sold on the Albemarle County real estate market.
1/1/2011 - 11/1/2011, 624 homes Albemarle County homes sold.

If you look at these numbers you can see that we don't have anything to get overly excited about. Overall sales are stable as compared with last year and are even up slightly. Median sold price is down as we would expect, and days on market has come down a bit. However we are still a low way from a balanced market. The Albemarle County real estate market is still very much a buyers market. With the low prices, high inventory offfering lots of choices and historically low interest rates, if you are in the position to buy, now is a great time.

Lets see how Albemarle County home sales compare with the rest of Central Virginia.

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Contact Pam Dent, e-PRO, SRES, SFR, President Blue Ridge Chapter Women's Council of Realtors, Montague Miller & Company, 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.

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