Looking at the first 77 Days of the past six years …
Just in Albemarle County, these are the number of homes with asking prices over one million dollars that have gone under contract in the first 77 days:
And a very basic list to sell chart for homes listed for at least one million dollars in Albemarle County. This does not take into account properties that
– Went under contract late in the year and closed in the following year
– Were withdrawn and re-listed (for less)
In Charlottesville and Albemarle County:
All told, the “million dollar” plus category has been a relatively small segment of the Charlottesville area real estate market, and from a high-level view seems to be relatively stable. More analysis to come …
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Jim
It is good to see there is some stability in parts of the market now. Do you have any predictions for this segment in the coming year? More sales, less? Prices going lower or remaining where they are? Thanks.
I wouldn’t be surprised if we saw prices lower in this segment of the market. I’ll have a deeper analysis shortly.
(I emailed you a related story)
This is interesting. It looks like high-end real estate was pretty insulated from the housing crash. Then again, with such small numbers it might just be a blip. I wonder if the numbers sold in a full year show a similar picture …
A variance of 3 houses seems like mostly noise. The more important question is what does the inventory for 1mm homes look like over the past 5 years.
Craigger –
Thank you for the suggestion. I added that above.