Localism: Albemarle County, VA

Charlottesville Virginia Market Report - November 2008

Tue, 02 Dec 2008 14:30:52 -0600

This is the second in our series of local market reports. This report will focus on the sales of single family detached homes in Charlottesville, Virginia during November 2008.

9 Charlottesville homes were under contingent contracts in November 2008. The average list price was $330,250 and the median was $346,000 with an average days on market of 239.

One Charlottesville home had a contract pending. The list price was $214,900 and the home had been on the market for 143 days.

In November 2008, 10 Charlottesville homes had contracts that closed. The average sales price was $331,191 with an average list price of $339,637 and a median of $329,500. The homes had an average time on market of 43 days and sold for 97.51% of the list price.

As of December 1, 2008 there are 185 Charlottesville homes actively listed. The average list price is $376,549 with a median of $315,000 and an average days on market of 163.

To compare lets look at the figures for October of 2008.
In October 2008, 13 Charlottesville homes were under contingent contracts. Their average list price was $267,093 and the median was $265,000, with an average DOM of 83.

2 Charlottesville homes had contracts pending in October. Their average list price was $304,945 and they were on the market for an average of 13 days.

15 homes sold in Charlottesville, Virginia during October 2008. The average sales price was $290,599, with an average list price of $306,401 and a median price of $249,900. They had been on the market for an average of 68 days and sold for an average of 94.84% of the list price.

To compare further we should examine the home sales in November of 2007.
23 Charlottesville homes sold in November of 2007. The average sales price was $347,506, with an average list price of $347,060 and a median of $277,000. The homes were on the market for an average of 105 days and sold for an average of 100.13% of the list price.

To put the real estate market in further perspective lets compare sales of the year to date with last year.
In 2007 from January 1 - December 1, 355 homes sold; in the same period in 2008, 320 Charlottesville homes sold. This represents a decline of -9.9%.

What can we tell from these numbers? For the year over all, Charlottesville home sales have held their own compared to the surrounding Albemarle County. Homes are staying on the market longer. Sellers need to price their homes agressively and make sure that the property is in the best condition possible. With the large amount of inventory on the maket it is important to do everything possible to ensure that your home is the one that will sell. It is also important to hire a REALTOR with a significant internet prescence, since over 85% of buyers begin their home search on line.

For buyers the current market offers a wonderful opportunity. Home prices are the lowest that they have been in 4 years, there is a wide selection to choose from, interest rates at this time are low, and many sellers are ready to negotiate. This is the time to find your dream home at a great price!

Figures are from the local mls and while deemed correct are 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.

For more information on Central Virginia homes, farms, events and real estate visit my website Jump into Greener Pastures or read my other blog Charlottesville Horse Farms and Country Homes.

Albemarle County Virginia Real Estate - (YTD Dec 2, 2008)

Tue, 02 Dec 2008 13:36:25 -0600

Albemarle County Virginia Real Estate - (YTD Dec 2, 2008)

When you are looking for Charlottesville Real Estate remember that Charlottesville is in Albemarle County. We have grand estates and horse farms in Albemarle. The back roads will give you a feeling of peace and harmony as you drive by these beautiful properties. When you are ready to tour, just give me a call, it is my favorite thing to do in our area.

Albemarle County Virginia Home Information

The Real Estate market everywhere is constantly changing and Charlottesville and Albemarle are no exception.

In Albemarle we have SOLD 1017 HOMES.
There are currently 955 HOMES on the market.
Our average DOM (Days on the Market) is at 109 Days .
Our Average selling price is $454,358.

We have some excellent neighborhoods to see like:

Glenmore Foxchase Old Trail Forest Lakes Dunlora

Click Here for a link to other Great Neighborhoods in our area!

Please visit my website at Charlottesville Real Estate for details about our area and other homes on the market in Charlottesville, Albemarle County and the surrounding counties!

Nelson, Greene, Madison, Fluvanna, Orange and Louisa

Come visit and tour our area anytime!

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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

Charlottesville Real Estate update (YTD - Dec 2,2008)

Tue, 02 Dec 2008 07:47:08 -0600

Charlottesville Real Estate update (YTD - Dec 2,2008)

(Photo - Charlottesville Bus taken by Charles McDonald, Charlottesville Virginia)

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!

In Charlottesville City we have SOLD 541 HOMES.
There are currently 301 HOMES on the market.
Our average DOM (Days on the Market) is at 110 Days .
Our Average selling price is $300,047.

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.

Come visit Charlottesville Real Estate and tour our area anytime!

About The Author

Albemarle County Virginia - November Market Report

Mon, 01 Dec 2008 17:10:26 -0600

Its the first of a new month and time to take stock of what is happening in our local real estate market. This report will feature sales of detached homes in Albemarle County Virginia in November 2008.

32 homes had contingent contracts in November of 2008. The average list price was $475,119 and the median was $419,700. The homes were on the market for an average of 151 days.

15 homes had contracts pending. The average list price was $500,070 and the median was $397,500. The homes had been on the market for an average of 169 days.

24 Albemarle County homes sold in November of 2008. They sold for an average price of $679,729. The average list price was $744,581 and the median was $357,000. The homes were on the market for an average of 118 days and sold for 91.29% of the list price.

As of November 1, 2008 there are 681 homes actively listed on the Albemarle County market. The average list price is $987,796 and the median is $519,000. The homes have been on the market for an average of 188 days.

Lets see how November of 2008 compared with October.

In October 2008 31 Albemarle County homes had contingent contracts. The average list price was $702,938 and the median was $349,248.They had been on the market for an average of 153 days.

18 homes had pending contracts in October with an average list price of $880,142 and a median of $399,450 and an average days on market of 115.

40 Albemarle County homes sold in October of 2008. The average sale price was $631,205, the average list price was $697,112 and the median was $435,679. The homes were on the market for an average of 133 days and sold for an average of 90.55% of the list price.

Lets see how this compared with November of last year.

In November 2007, 48 homes sold in Albemarle County for an average sale price of $417,960. The average list price was $444,662 and the median was $314,500. The homes were on the market for an average of 90 days and sold for an average of 93.99% of the list price.

Finally we will look at the year to date figures for 2008 and 2007. In 2007 from January 1 - November 1, 820 homes sold in Albemarle County. In the same time period in 2008, 609 Albemarle County homes were sold. This represents a decline of -25.7%.

As you can see, Albemarle County is still in a declining market. This translates to a lot of inventory on the market, lower sale prices, and longer days on the market. If you are selling a home, it needs to be in perfect condition and must be priced agressively. In addition since over 85% of home buyers begin their search on the web, it is important to hire a REALTOR who has a strong internet presence.

If you are buying a home, the current market presents a great opportunity. You have a large selection of homes to choose from, prices are down and many sellers are ready to negotiate. Also interest are remaining very low. This is the perfect time to buy your dream home at an exceptional price.

Figures are from the mls and while they are deemed correct they are not guaranteed.

To view all of the Charlottesville, Virginia and Central Virginia Homes for Sale click here and click on the mls search button.

Visit my other blog Charlottesville Horse Farms and Country Homes for more information on Charlottesville homes, farms, events and real estate.

UVA - The University of Virginia

Sun, 30 Nov 2008 11:08:01 -0600

So what is the history of UVA? The land was first owned by James Monroe...Read this marker:

So Monroe purchased this farm later Jefferson, Monroe and Madison laid the cornerstone of the University.

There is so much history around Charlottesville that many of our residents do not even realize it.

When I am showing Charlottesville Real Estate I will often stop by the University and do a "quick" tour. It is great to see our local history.

BTW, a walk around the campus can be both beneficial to your mind and body!

All the best, Charles