In light of the national new-home sales numbers showing their largest drop in 12 years, here is some local context. These are for all inventory, re-sale and new homes; I don’t trust the MLS data sufficiently regarding new homes sales.

December 2003 –
215 residential properties sold.

December 2004 –
249 residential properties sold.

December 2005 –
258 residential properties sold. 1379 active units on the market = 5.34 months of inventory

December 2006 –
192 residential properties sold. 1922 active units on the market = 10.01 months of inventory

December 2007 –
138 residential properties sold. 2169 active units on the market = 15.72 months of inventory

*The MLS now only allows statistical analysis reports back only three years, so I am unable to pull inventory data for anything earlier than January 2005.
*These numbers are for Albemarle, Charlottesville, Fluvanna, Greene & Nelson Counties.

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