In the Charlottesville region*, there are 484 properties that are currently under contract or pending. Of these, 184 were on the market for fewer than 30 days (per the “continuous days on the market” tag of our MLS which is supposed to account for crafty Realtors trying to game the MLS). Nearly 40% of new sellers “get it.”
Of course, there are still 2354 properties on the market, 20% of which have come on the market in the past 30 days (42% have been on for longer than six months, and 11% more than one year)
* Charlottesville, Albemarle, Greene, Fluvanna, Nelson
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Yes, that is an encouraging statistic. Over the last couple of weeks in the Fredericksburg market, I have made mention of another interesting stat. Homes currently under contract, which represent a 30 to 45 day window of the market, outnumber the last 30 day home sales figures by two or three to one. That has held true in each county around Fredericksburg, the city itself, and in each particular subdivision. Is it just the Spring Market? Is it because banks are dropping out the bottom on pricing their foreclosures? Or are many more sellers of all types – starting to get it, as you say?