Charlottesville's Real Estate Blog. Buyer &/or Seller Representation, Real Estate News
Given yesterday to the Charlottesville Area Association of Realtors:
Barry Merchant has annually provided some of the best, most realistic market insight to the state, regional and Charlottesville area real estate markets.
Barry Merchant’s presentation to CAAR – 10-26-2011
More after the jump …
Nest Realty’s 3rd Quarter Market Report (PDF)
Download, read it, print it, mark it with your questions and let me know what you think. There are some bright spots (Charlottesville Single Family home sales up nearly 30%) and some bizarre data points that highlight how every market is local (Nelson’s sales are off 48%).
More to come.
More to come. In the meantime, have a look at the market report.
CAAR 3rd Quarter Real Estate Market Report – 2011
This post will be updated throughout the day as I get opportunities to look at the data. …
Notes:
– The above report is for the entire Charlottesville MLS area, not Charlottesvill and Albemarle or even the Charlottesville MSA (Charlottesville, Albemarle, Fluvanna, Greene, Nelson) or even the Charlottesville MSA + Louisa. So take it for what it’s worth – a very broad overview of the entire Central Virginia region. Example: in Amherst, Augusta, Buckingham, Goochland, Rockbridge and Lexington, there are 156 closed transactions in our MLS … which isn’t particularly relevant to real estate consumers in the Charlottesville area.
– Days on Market is not statistically accurate, as it does not reflect relistings of properties.
– The Charlottesville market is still declining.
– Detailed market report from Nest coming soon, as is county by county break down.
– Townhouse/Attached median sold price is down in the Charlottesville/Albemarle area, in no small part due to Ryan Homes’ driving prices through the floor market-wide.
– Median sales prices are down, but inventory is down as well; the latter qualifying as a good data point.
– What questions do you have about the market data?
Interactive Charts are after the jump; I choose to use the static charts rather than the interactive reports as I don’t like to be locked into a service; I pay $30 a month for access to the deeper data and if I choose to not pay for the service, the interactive charts go away … not a good option.
With the overwhelming flood of real estate data and information, what matters to you? I know what I think is important, but what’s important to you?
What’s happening the Albemarle County real estate market? Lots of stuff. Perhaps the two most relevant posts I’ve written in the past few weeks are these:
– Goodbye, 0-5 Buyer -OR- Finance a House or an Education? in which I discuss the elimination of the short-term homeowner and this effect on the Charlottesville area real estate market
and
– Categorizing the Charlottesville Real Estate Market – in which I break the market down into four segments – from distressed to price aggressively.
This is just a reasonably high-level overview of the Albemarle real estate market. But … this matters little to you if you’re looking for a home in Albemarle, start your home search here. If you’re curious about what’s happening in your location in Albemarle, or are currently searching for homes for sale in Albemarle, please feel free to contact me anytime with questions.
Sold listings are down in Albemarle County year over year:
See also:
Charlottesville MSA Real Estate Market Update – 30 August 2011 – How this matters to You
The City of Charlottesville Real Estate market continues to be slow. Download the City of Charlottesville Detailed Real Estate Market Report A balanced market is still a ways off.
As I noted in 2006 (Good Lord, it’s been that long that we’ve been searching for a bottom?!)
How do we know that the housing “bust/correction/adjustment†(how about “changeâ€) is over? My answer – when we are able to look back from a perspective of nine to eighteen months and say, “see, here are the data, this is the trend of where we were, and here is where we are.†Until then, speculation about every move – a move of any kind - of the market is just that – speculation, even if it’s educated speculation.
This is just a reasonably high-level overview of the City of Charlottesville’s real estate market. If you’re curious about what’s happening in your location in Charlottesville, or are currently searching for homes for sale in Greene, please feel free to contact me anytime with questions.
Sold listings are up ever so slightly in the City of Charlottesville year over year:
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What does this mean? It means simply that the Greene County real estate market – and Greene County itself – is becoming more self-sufficient and independent of Charlottesville-Albemarle (CharlAlbemarle). People are choosing to buy and live in Greene County and don’t have to commute into the City of Charlottesville or Albemarle to work. I’d *love* to see updated commuting data from the US Census.
This is just a reasonably high-level overview of the Greene County real estate market. If you’re curious about what’s happening in your location in Greene, or are currently searching for homes for sale in Greene, please feel free to contact me anytime with questions.
Sold listing volume is down just a bit in Greene County year over year:
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